A prime crypto strategist believes that memecoin dogwifhat (WIF) is now poised to witness a rise of greater than 350%.
Earlier this month, pseudonymous analyst Bluntz told his 265,200 followers that WIF was within the early phases of a recent five-wave surge.
The analyst depends on the Elliott Wave principle, which states {that a} bullish asset tends to undergo a five-wave rally after finishing an ABC corrective transfer.
With WIF now buying and selling at $2.21, Bluntz believes that WIF’s ABC correction is over and the memecoin is able to ignite an enormous upside transfer.
“$10 WIF is coded by regulation.
As soon as it begins correctly going, do you suppose all these individuals who missed the final run from cents to $5 are going to overlook spherical two?
Not an opportunity.”
The analyst can also be bullish on fellow memecoin Floki (FLOKI). He thinks FLOKI has accomplished its ABC correction and is gearing up for a rally to a brand new all-time excessive at round $0.00045.
Bluntz provides that FLOKI can also be flashing a bullish divergence on the day by day chart, indicating {that a} pattern reversal could also be in sight.
“Floki is true up there as one in all my favourite memes for the time being.
Clear as day macro ABC construction executed, 5 waves clearly seen inside the C and excessive time-frame [bullish divergence] on the lows.
All-time excessive en route, in my view.”
At time of writing, FLOKI is price $0.00019.
One other memecoin on Bluntz’s listing is the Solana (SOL)-based altcoin Popcat (POPCAT). In accordance with the analyst, blue skies are forward for POPCAT after taking out its final resistance stage at $0.72.
“Introduced with out remark.
Popcat.”
At time of writing, POPCAT is buying and selling at $0.853, up almost 13% on the day.
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