A extensively adopted analyst and dealer who precisely predicted the Bitcoin (BTC) backside in 2018 is highlighting one crypto asset that might go up by triple-digit proportion factors.
The dealer pseudonymously referred to as Bluntz tells his 321,100 followers on the social media platform X that dogwifhat (WIF), a memecoin constructed within the Solana (SOL) ecosystem, may go up by about 472% to reclaim and surpass the all-time excessive recorded in March of 2024.
“Nonetheless a variety of work to place in and must see worth motion affirm, however I feel there’s a really actual likelihood a brand new impulse again to all-time excessive on WIF has commenced.”
In keeping with the analyst who frequently applies the Elliott Wave idea in his technical evaluation, WIF began a bullish uptrend earlier this month in a five-wave sample. The Elliott Wave idea states that the principle development of the value of an asset strikes in a five-wave sample whereas a correction happens in a three-wave sample. Primarily based on Bluntz’s chart on the three-day timeframe, WIF bottomed out earlier this yr.
Over the brief time period, the pseudonymous analyst says WIF may bear a correction earlier than rallying. Primarily based on the extensively adopted analyst’s chart of the one-hour timeframe, WIF may pull again by round 10% from the present stage.
“Very apparent five-wave rise from the lows on hourly for WIF, would anticipate a little bit of a pullback right here earlier than the subsequent main leg up.”
WIF is buying and selling at $0.845 at time of writing.
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