Leading Analyst Anticipates Soaring Prices for Solana-Based Memecoin, Highlighting SOL’s Resilience Amidst Market Correction
A prominent trader, renowned for correctly predicting Bitcoin’s price bottom during the 2018 bear market, has identified a memecoin operating on the Solana blockchain that he believes is set to achieve a new all-time high. Going by the pseudonym Bluntz, the analyst shares with his substantial social media following on X that the meme token dogwifhat (WIF) is likely to surge to an unprecedented $4.50 before the conclusion of its five-wave rally.
Bluntz utilizes Elliott Wave theory, which suggests that a bullish asset generally experiences a five-wave upward movement before pausing. Elaborating on his analysis, the analyst states, “From the low points in WIF’s performance, there is still one final leg up needed to establish new all-time highs, completing the full five-wave structure. Currently, I regard this pullback as another wave four, with the final surge to a new all-time high yet to come.”
As of now, WIF is being traded at $3.06, exhibiting a significant increase of over 35% within the last 24 hours.
Turning his attention to Solana, Bluntz expresses optimism about the altcoin’s prospects, emphasizing its resilience during the recent market correction. He observes, “Pay attention to the assets that experienced the least depreciation within the last 48 hours. While many tend to focus on those that decline the most, assuming they offer better entry points, I don’t subscribe to that viewpoint. SOL, in particular, stands out.”
At present, SOL is being traded at $202.89, manifesting a noteworthy surge of over 8% in the past day.