A prominent analyst renowned for timely crypto predictions has set a bold price target for the Solana (SOL)-based meme coin known as dogwifhat (WIF).
Operating under the pseudonym Bluntz, the analyst informed his 264,200 followers on the X social media platform that WIF appears to be initiating a new five-wave uptrend. Bluntz adheres to the Elliott Wave theory, which suggests that bullish assets typically undergo a five-wave upward movement. Sharing a chart, he indicated that WIF could surge to as high as $11 by November of this year, marking the conclusion of its five-wave rally.
“Don’t hesitate to dream a little bigger. WIF.”
Source: Bluntz/X
As of the latest update, WIF is trading at $2.26, implying a potential upside of more than 386% if the meme coin achieves the analyst’s target.
Bluntz is also closely monitoring Bitcoin (BTC), expressing continued optimism about the crypto leader after its recent quarterly candle flipped resistance around $60,000 to support.
“Imagine thinking this BTC quarterly chart looks bearish, not me.”
Source: Bluntz/X
Analyzing Bitcoin’s weekly timeframe, Bluntz shared a chart suggesting that BTC is consolidating within a triangular pattern. According to his analysis, BTC seems poised for a rally above $68,000 (D wave) before a final dip to $62,000 (E wave).
“BTC weekly setup shaping up nicely.”
Source: Bluntz/X
The chart further suggests that BTC is likely to break out and surge above $80,000 following the E-wave correction.
At the time of reporting, Bitcoin is priced at $62,842.
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