A top crypto strategist believes that memecoin dogwifhat (WIF) is now poised to witness an increase of more than 350%.
Earlier this month, pseudonymous analyst Bluntz told his 265,200 followers that WIF was in the early stages of a fresh five-wave surge.
The analyst relies on the Elliott Wave theory, which states that a bullish asset tends to go through a five-wave rally after completing an ABC corrective move.
With WIF now trading at $2.21, Bluntz believes that WIF’s ABC correction is over and the memecoin is ready to ignite a massive upside move.
“$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.”
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 at around $0.00045.
Bluntz adds that FLOKI is also flashing a bullish divergence on the daily chart, indicating that a trend reversal may be in sight.
“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.”
At 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, blue skies are ahead for POPCAT after taking out its last resistance level at $0.72.
“Presented without comment.
Popcat.”
At time of writing, POPCAT is trading at $0.853, up nearly 13% on the day.
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