A crypto strategist who continues to build a following with timely altcoin calls believes that one memecoin is poised to witness a big burst to the upside.
Pseudonymous analyst Bluntz tells his 289,900 followers on the social media platform X that he thinks the Solana (SOL)-based meme token dogwifhat (WIF) looks ready to ignite huge rallies.
Bluntz says that dogwifhat is flashing multiple bullish signals against Solana (WIF/SOL), indicating that the memecoin is gearing up for a big reversal.
“SOL is leading the market right now and WIF/SOL is bottoming out.
A huge five down on the four-hour [chart] and diverging heavily.
With SOL looking insanely bullish, I think WIF is about to go mental.
My bags are packed.”
Bluntz practices the Elliott Wave theory, which states that an asset’s trend tends to end after a five-wave move. Based on the trader’s chart, he seems to suggest that WIF/SOL has completed a five-wave correction, suggesting that the memecoin is primed to outperform Solana.
At time of writing, WIF is trading for $2.59, up nearly 6% on the day.
Turning to layer-1 protocol Sui (SUI), Bluntz believes that the altcoin is in the early stages of a wave-five rally to hit a new all-time high at $3.
“SUI macro wave four nearing completion, hit the 0.38 Fibonacci level of the macro wave three and still expecting fresh ATHs and a 5th wave up.”
At time of writing, SUI is worth $1.90, up over 10% in the last 24 hours.
The last altcoin on the trader’s radar is Popcat (POPCAT). Bluntz shares a chart suggesting that POPCAT is in the midst of a five-wave move-up with a target price of around $2.10.
“Nice flat on POPCAT also done over the weekend, en route to ATHs (all-time highs) again, in my opinion.”
At time of writing, POPCAT is trading for $1.69, up more than 15% in the past day.
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Generated Image: Midjourney