Cryptocurrency analyst Bluntz Capital We recently provided a bullish commentary on the Dogwifhat (WIF) token. As part of his analysis, he suggested that meme coins could compete with the best meme coins, Dogecoin (DOGE) and Shiba Inu (SHIB).
WIF switches to “turbo parabolic”.
Bluntz alluded to X (formerly Twitter). post WIF’s next upward move could be what sends the price “turbo parabolic”. He added that Mimcoin is unlikely to see any further declines above the $0.50 resistance level. From the attached chart shared by the analyst, one could see that he was hinting that the meme coin would reach $1 at this moment. parabolic movement Happened.
Bluntz is known to be very bullish on meme coins and has shared some technical analysis of meme coin charts on his X platform. This is not the first time he has suggested that cryptocurrency tokens would rise to $1. previously X postHe boldly claimed that WIF was “programmed for $1.”
According to data from CoinMarketCap, WIF is currently ranked as the 6th largest meme token by market capitalization. The cryptocurrency token’s market capitalization is $296 million, which lags far behind other tokens. DOGE and SHIBTheir market capitalizations amount to $12 billion and $5.5 billion, respectively.
New Meme Coin to Overtake Bonk?
WIF(a) is also worth mentioning. Solana-based tokens) is not the largest meme coin in the Solana ecosystem. Cryptocurrency tokens are currently in second place. Behind the BONK (Market cap is $725 million) However, if altcoins rise to $1, meme coins could potentially take the top spot. This is mainly because the price of BONK is much lower at around $0.0000114.
fun, Arthur HayesHe is the former CEO and co-founder of cryptocurrency exchange BitMEX. highlighted WIF is one of two altcoins he plans to invest in. He also suggested that meme coins would overtake BONK, calling the latter “puppy money of the last cycle.” He then added, “If it’s not a Wif Hat, it’s not a big deal.”
The altcoin has already made significant progress to start the year, boasting annual gains of over 90%. In comparison, BONK fell more than 14%. Cryptocurrency tokens are also beneficial as they are expected to attract more attention to the Solana ecosystem. next bull market.
At the time of writing, WIF is said to be trading around $0.29, down more than 11% in the last 24 hours. data From CoinMarketCap.
Meme coin's price drops to $0.3 | Source: WIFUSDT on Tradingview.com
Featured image from Crypto Daily, chart from Tradingview.com