A renowned analyst known for making timely cryptocurrency predictions has revealed a huge price target for the Solana (SOL)-based Mimecoin Dogwifhot (WIF).
Anonymous analyst Blunts told his 264,200 followers on social media platform X that WIF appears to be in the early stages of a new fifth-wave rally.
Blunts practices Elliott Wave theory, which states that bullish assets tend to go through five-wave uptrends. The trader shares a chart suggesting that WIF could surge to $11 before completing its five-wave surge by November of this year.
“Don’t be afraid to dream a little bigger.
“and.”
At the time of writing, WIF was trading at $2.26, indicating an upside potential of over 386% if Mimecoin hits the analyst’s target.
The trader is also watching Bitcoin (BTC) closely. Blunts says he remains bullish on the king of cryptocurrencies even after the most recent quarterly candle turned resistance near $60,000 into support.
“Imagine thinking this BTC quarterly chart is bearish. I can’t.”
Looking at Bitcoin’s weekly timeframe, Blunts shares a chart that suggests BTC is consolidating within a triangle pattern. According to the chart, BTC is likely to rally above $68,000 (wave D) and finally drop to $62,000 (wave E).
“The BTC weekly cracking is now starting.”
According to the chart, BTC looks set to rally above $80,000 after the E-wave correction.
As of this writing, Bitcoin is trading at $62,842.
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