Bluntz, a well-respected cryptocurrency analyst, is most famous for calling Bitcoin’s bottom during the bear market of 2018. Looking forward, he thinks the Solana-based memecoin Dogwifhat (WIF) has potential for massive increases. Even so, Bluntz believes WIF has room for growth of at least 472% before surpassing its current all-time high in March 2024.
WIF, a memecoin that runs on the Solana ecosystem, is trading at $0.845 at press time. Although hopeful for WIF, Bluntz does expect a short-term correction before a big rally.
This correction, according to Bluntz, may be as much as 10% lower from here. Bluntz applies the Elliott Wave theory in his analysis of WIF’s price movements.
The Elliott Wave theory suggests that WIF’s price overall follows a five-wave movement in one direction before reversing. Corrections always occur in a 3 wave structure. Bluntz, who has 321,100 followers on social media platform X, brought that analysis to his audience. Plus, he notes that WIF recently bottomed out earlier this year.
"Still a lot of work to put in and need to see price action confirm, but I think there’s a very real chance a new impulse back to all-time high on WIF has commenced." - Bluntz
If Bluntz’s crypto forecast comes true, there is a chance for WIF to recover and reach much higher than its all-time high made way back in March 2024. This trend was unmistakable when we looked at WIF’s recent performance, according to the pseudonymous analyst.
"Very obvious five-wave rise from the lows on hourly for WIF, would expect a bit of a pullback here before the next major leg up." - Bluntz
