A well-known cryptocurrency analyst and trader is sharing positive sentiments about a memecoin built on the Solana blockchain, while also revealing his predictions for Ethereum’s future. The analyst, who goes by the pseudonym Flow Horse, has a large following of 216,400 users on the social media platform X. He suggests that dogwifhat (WIF), a memecoin with a logo featuring a dog wearing a hat, is currently going through a consolidation phase on the daily chart. According to Flow Horse, WIF could potentially experience a bullish run after this consolidation period. He humorously adds, “It looks like WIF isn’t ready to take off the hat.” At the time of writing, WIF is trading at $2.97, which is a decline of approximately 38% from its all-time high in March.
Flow Horse then shifts his focus to Ethereum (ETH) and discusses the potential impact of the U.S. Securities and Exchange Commission (SEC) approving a spot Ethereum exchange-traded fund (ETF). He believes that if this approval occurs months after Bitcoin’s ETF approval, it could lead to a weeks-long uptrend for ETH. Flow Horse states that the Ethereum ETF trade offers more benefits than Bitcoin for numerous reasons, but highlights the surprise factor and lingering doubt as key factors in its potential success. He predicts a short-term increase and correction followed by a strong upward trend lasting for weeks. Additionally, he emphasizes that it is easier to move ETH compared to BTC. Currently, Ethereum is trading at $3,864, showing a growth of approximately 29% over the past seven days.
It is important to note that the opinions expressed in this article are not investment advice, and investors should conduct their own research before engaging in high-risk investments involving Bitcoin, cryptocurrency, or digital assets. The Daily Hodl, where this information was sourced, does not endorse the buying or selling of any cryptocurrencies or digital assets, nor is it an investment advisor.
