Economist Henrik Zeberg believes that the memecoin dogwifhat (WIF) based on Solana (SOL) is showing similarities to Bitcoin’s setup back in November.
In a recent post to his 172,200 followers on X, Zeberg predicts that WIF could potentially reach the $19 mark.
“Just like before the significant BTC surge in November, we are witnessing similar technical indicators in WIF
– Positive RSI Divergence
– MACD on the verge of a Bullish Cross
– RVGI trending upwards
All of this while the price is consolidating in a Descending Wedge – within a larger wave 2.
INTERPRETATION:
WIF is poised to skyrocket in a larger wave 3 – potentially reaching as high as $18-19 in the upcoming move!”
Currently, WIF is trading at $2.02, showing a 13% increase in the last 24 hours. A surge to $19 would signify an approximate 840% rise.
Yesterday, Zeberg noted that the crypto market is displaying bullish signals for altcoins while cautioning about deteriorating macro conditions.
“We’ve witnessed the initial push in wave one of the BTC Dominance Index. It might have gone unnoticed! The real surge in altcoins will occur in wave three (which is commencing now). The cycle will continue through wave three, wave four, and wave five. The timing? It remains to be seen! The key is to be on the right side of the trade.”
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Generated Image: Midjourney