Crypto Analyst Predicts 470% Surge for Solana-Based Memecoin WIF

A prominent crypto analyst, recognized for accurately predicting Bitcoin’s 2018 bottom, has shifted focus to an unexpected asset: a Solana-based memecoin known as dogwifhat (WIF). The trader, identified online as Bluntz, has highlighted WIF as a token with significant potential, forecasting a possible surge of over 470% from its current price levels. This projection suggests that WIF could potentially exceed its previous all-time high, which was reached in March 2024.

Bluntz’s analysis is grounded in Elliott Wave theory, a technical framework that posits prices move in structured five-wave patterns during an uptrend. According to the analyst, WIF began such a formation earlier this month, indicating the potential start of a new bull cycle. However, the path to this rebound may not be immediate. In the near term, Bluntz anticipates a minor correction—possibly around 10%—before momentum resumes. On shorter timeframes, WIF has shown a complete five-wave pattern from its recent lows, which typically precedes a temporary cooldown before another upward move.

WIF, primarily known for its meme appeal rather than its fundamentals, remains a speculative asset. Nevertheless, given the surprising rallies many memecoins have experienced in the current market climate, Bluntz’s projection has garnered attention from traders seeking the next breakout candidate within the Solana ecosystem. The analyst’s forecast, while optimistic, comes with the inherent volatility and risk associated with the crypto world. If the chart holds, WIF could be one of the unexpected stories to watch in the coming months.