A prominent crypto strategist has expressed optimism about the future of memecoin dogwifhat (WIF), suggesting that it could see a significant increase of over 350%.
In a recent analysis, renowned analyst Bluntz shared with his large following that WIF is on the verge of embarking on a fresh five-wave uptrend.
Utilizing the Elliott Wave theory, which posits that a bullish asset typically undergoes a five-wave surge following an ABC corrective phase, Bluntz is confident that WIF has completed its correction and is primed for a substantial upward movement.
“$10 WIF is coded by law.
Once it starts properly going, do you think all those people who missed the last run from cents to $5 are going to miss round two?
Not a chance.”
Bluntz also expressed positive sentiments towards another memecoin, Floki (FLOKI), suggesting that it has completed its corrective phase and is poised to rally to a new all-time high of around $0.00045.
He highlighted a bullish divergence on the daily chart for FLOKI, indicating a potential trend reversal on the horizon.
“Floki is right up there as one of my favorite memes at the moment.
Clear as day macro ABC structure done, five waves clearly visible within the C and high time frame [bullish divergence] at the lows.
All-time high en route, in my opinion.”
As of the latest data, FLOKI is valued at $0.00019.
Furthermore, Bluntz highlighted Popcat (POPCAT), a Solana (SOL) based altcoin, as another promising memecoin with potential for significant growth after surpassing its previous resistance level at $0.72.
“Presented without comment.
Popcat.”
At the time of writing, POPCAT is trading at $0.853, showing a nearly 13% increase for the day.
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Generated Image: Midjourney