Analyst bullish on Solana altcoin after triple-digit surge

Analyst bullish on Solana altcoin after triple-digit surge

Summary

A well-known cryptocurrency analyst and trader expresses bullish sentiment for the altcoin “dogwifhat” (WIF) in the Solana (SOL) ecosystem. The coin has risen by triple-digit percentages in the last four weeks and the analyst predicts further increases. Based on the analyst's chart, the coin has completed a three-wave pattern, signifying the end of a correction according to the Elliott Wave theory. The analyst believes that WIF could rise by another 44%. He also expresses a positive forecast for the Pepe (PEPE) Coin.

Detailed article

The cryptocurrency analyst and trader, who goes by the pseudonym Bluntz, said on Twitter that altcoin dogwifhat (WIF) in the Solana (SOL) ecosystem could be poised for a “monster” surge in the next few days. The coin has seen a V-shaped recovery on the hourly chart, which, according to Bluntz's analysis, indicates an end to the correction phase.

According to Elliott Wave theory, WIF has completed a three-wave pattern, indicating the end of a correction. Elliott Wave theory states that the major trend in an asset's price is in a five-wave pattern, while a smaller corrective trend is in a three-wave pattern. Based on this analysis, Bluntz expects WIF could rise by up to 44% in the next few days.

Historically, WIF has seen significant appreciation in value over the last four weeks. The coin was trading at $0.190 on February 7th and has since gained an impressive 994% to $2.08. Bluntz's projected rise could further drive this appreciation.

It is important to note that Bluntz also gives a positive forecast for the Pepe (PEPE) coin in the Solana ecosystem. PEPE has also seen triple-digit increases in value over the past 30 days. Bluntz currently sees no signs of a sharp decline in PEPE and expects further highs for the coin.

At current prices, PEPE is trading at $0.000008116 and is up about 780% in the last 30 days. There is also a 1000PEPE perpetual contract that tracks the Pepe token and represents – as the name suggests – 1000 PEPE tokens.

It remains to be seen whether Bluntz's predictions will come true and whether WIF and PEPE will continue their impressive appreciation. However, traders and investors should be careful and do their own due diligence before investing in these high-risk coins.

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