- One memecoin based on Solana (SOL), according to a trader who has been growing his following with timely calls about altcoins, is about to make a huge upside move.
On the social networking site X, pseudonymous expert Bluntz informs his 268,500 followers that dogwifhat (WIF) appears to be about to break out from a falling wedge formation.
Due to its indication of waning selling momentum, the pattern is frequently seen as a bullish reversal indicator.
WIF kicks things off strong.mI would definitely still be purchasing this if I wasn’t already positioned, even if it has increased by 80% in just one week. There’s not much longer before the train departs the station.
Based on the trader’s chart, it appears that a breakthrough from the wedge will lead to a surge in WIF that might reach as high as $8. As of the time of writing, WIF is worth $1.63.
The native asset of Jito (JTO), a decentralized liquid staking technology based in Solana, is another area in which the analyst is optimistic. After completing its ABC correction, the expert believes that JTO has reached its lowest point.
Elliott Wave theory, which says that an asset typically sees rallies following the completion of an ABC corrective wave, is applied by Bluntz.
The trader seems to be predicting that JTO would rise to $5 based on his chart.
JTO is now valued at $2.45.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
