A top analyst updated his outlook on the Dogecoin rival, which exploded more than 300% in three weeks, and said Solana could see higher gains.

A widely respected cryptocurrency analyst is expressing optimism about Memecoin, which has soared to triple digits in less than three weeks.

Analyst known by the pseudonym Bluntz says 237,900 followers on social media platform

According to Bluntz’s 1-day chart of the asset, the analyst known for applying Elliott Wave theory to technical analysis appears to be hinting that WIF is currently in the second wave of a five-wave pattern and could see the next one. It eventually reaches a price of over $1.

Elliott Wave Theory states that major trends in asset prices move in a five-wave pattern, while corrective waves occur in a three-wave pattern.

WIF is trading at $0.321 at the time of this writing, up a whopping 323% from its close of $0.0759 on January 8.

Next is the smart contract platform Solana (SOL). Blunts Called The fifth-largest cryptocurrency asset by market capitalization could soar above $150, an increase of about 72% from current levels.

According to Bluntz’s 8-hour chart for the layer 1 cryptocurrency project, Solana has potentially completed a three-wave downtrend pattern and appears to be trying to “test and reclaim” the area currently around $90 to $100. There is an upward trend that could lead to a rebound above $150.

Solana is trading at $87.45 at the time of writing, up 5.66% in the last 24 hours.

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