A prominent economist who is closely followed believes that a popular memecoin based on Solana (SOL) may experience a significant breakout soon. Henrik Zeberg, who has 166,100 followers on the social media platform X, predicts that dogwifhat (WIF) could see an increase of over 337% in the near future compared to its current value.
Zeberg, who uses the Elliott Wave Theory for his analysis, suggests that WIF is poised for a massive rally. According to this theory, assets tend to go through a five-wave pattern, with the third wave being the longest and strongest upward movement.
“Now get ready for an even bigger move. WIF appears to have completed wave two and is now preparing for a monster move. The next level will likely be reached in a few weeks, around $12-$13!”
In September, Zeberg stated that WIF could surge as high as $79.26 in this cycle after breaking out of a key level. According to Elliott Wave principles, an ABCDE triangle indicates consolidation in an uptrend market, which could trigger a strong rally once it is completed.
“WIF: are you onboard? It is breaking out of a long ABCDE-consolidation. The potential is amazing.”
Currently, WIF is trading at $2.97, down 11.1% in the last 24 hours. The memecoin has a market cap of $2.9 billion, making it the 52nd largest cryptocurrency project.
Additionally, Zeberg suggests that the current crypto bull market may fizzle out earlier than many anticipate.
“I told you to relax and take it easy! Now enjoy! Stay away from the ‘analysts’ who believe in a multi-year run. It’s a bubble, and it will only last for a limited amount of time before crashing!”
Zeberg also predicts a growth of over 171% in the entire crypto market cap.
“New all-time high for crypto market capitalization! Are you ready for a $9 trillion crypto market?”
Disclaimer: The opinions expressed in this article are not investment advice. Investors should conduct their own research before making high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please be aware that your transfers and trades are undertaken at your own risk, and any losses incurred are your responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor is it a financial advisor. It is important to note that The Daily Hodl engages in affiliate marketing.
