A prominent crypto strategist known for accurate predictions, Bluntz, has shared insights suggesting that a new meme coin might be primed for a massive rally. Bluntz, speaking to his 289,900 followers on the social platform X, believes that dogwifhat (WIF), a meme coin on the Solana (SOL) blockchain, shows strong potential for a major breakout.
Bluntz’s Insight on Meme Coins Sparks Interest
Bluntz noted that WIF/SOL is flashing multiple bullish signals. According to his analysis, these indicators suggest that the meme coin may be ready for a significant reversal. In his post, Bluntz stated, “SOL is leading the market right now, and WIF/SOL appears to be bottoming out,” adding:
“On the four-hour chart, we’re seeing a five-wave major decline and a strong divergence. With SOL showing an impressive uptrend, I think WIF is set to explode. I’ve stocked up on it.”
$sol is leading the market right now and wif/sol is bottoming out.
a huge 5 down on 4h and diverging heavily.
with sol looking insanely bullish i think $wif is about to go mental.
my bags are packed. pic.twitter.com/Aa7WYVghEt
— Bluntz (@Bluntz_Capital) October 27, 2024
Bluntz relies on the widely-used Elliott Wave Theory, which predicts that a trend typically ends after a five-wave movement. His shared chart suggests that WIF/SOL has completed a five-wave correction, indicating that dogwifhat could be set to outperform Solana. At the time of writing, WIF is trading at $2.59, marking a daily gain of 6%.
Bluntz’s Projections for Sui (SUI) and POPCAT
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Another key altcoin on Bluntz’s radar is the layer-1 protocol Sui (SUI). According to his analysis, SUI is in the early stages of a fifth wave rally, with the potential to reach an all-time high (ATH) at around $3. Bluntz commented, “SUI is nearing the end of its macro wave four correction. It has reached the 38% Fibonacci level of macro wave three, and I expect wave five to push it to new ATHs.” Currently, SUI is trading at $1.90, having surged by over 10% in the last 24 hours.
$sui macro w4 nearing completion, hit the 0.38 fib of the macro wave 3 and still expecting fresh ath’s and a 5th wave up https://t.co/SypcaZMu5h pic.twitter.com/L8ccrJnihB
— Bluntz (@Bluntz_Capital) October 27, 2024
The analyst also highlighted Popcat (POPCAT) as another meme coin worth watching. Bluntz believes POPCAT is in the midst of a five-wave uptrend, with a target price of approximately $2.10. He shared, “POPCAT saw a healthy correction over the weekend, and I believe it’s now gearing up for new highs.” As of this writing, POPCAT is trading at $1.69, with a 15% increase over the last 24 hours.
Meme Coin and Altcoin Trends: What’s Next?
As the crypto market often experiences rally trends centered around specific coins or tokens, experienced analysts like Bluntz provide valuable insights for investors. Using tools like Elliott Wave Theory, these analysts can spot coins with high growth potential, offering strategic guidance for future gains.
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