A leading crypto strategist believes that memecoin dogwifhat (WIF) is now poised to witness a surge of over 350%.
Earlier this month, pseudonymous analyst Bluntz told his 265,200 followers that WIF was in the early stages of a new wave of five waves.
The analyst relies on the Elliott Wave theory, which states that a bullish asset tends to experience a five-wave rally after completing an ABC correction.
With WIF trading at $2.21, Bluntz believes that WIF’s ABC correction is over and the memecoin is ready to unleash a massive upward move.
“$10 WIF is encrypted by law.
Do you think that once things get going, all those people who missed the last run from cents to $5 will miss the second round?
No chance.”
The analyst is also bullish on fellow memecoin Floki (FLOKI). He thinks FLOKI has completed its ABC correction and is gearing up for a rally to a new all-time high around $0.00045.
Bluntz adds that FLOKI is also showing a bullish divergence on the daily chart, indicating that a trend reversal may be in sight.
“Floki is one of my favorite memes right now.
Clear macro ABC structure, five waves clearly visible within the C and high time frames [bullish divergence] at the low points.
An all-time high on the road, in my opinion.”
At the time of writing, FLOKI is worth $0.00019.
Another memecoin on Bluntz’s list is the Solana (SOL)-based altcoin Popcat (POPCAT). According to the analyst, there are blue skies ahead for POPCAT after it cleared its latest resistance level at $0.72.
“Presented without comment.
Popkat.”
At the time of writing, POPCAT is trading at $0.853, up almost 13% on the day.
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Generated image: Midjourney