Solana‘s impressive surge in 2023 has propelled Meme coins like BONK and Dogwifhat (WIF) into the spotlight. Analysts, especially Bluntz, suggest WIF might have bottomed out below $0.10 and could revisit higher levels once the current market cycle ends. WIF’s price chart, according to Bluntz, indicates it’s in the second wave of an Elliott Wave formation, potentially reaching above $1 by the fifth wave.
The Elliott Wave theory, used by Bluntz, analyzes price movements in a five-wave pattern for the main trend and a three-wave pattern for corrections. WIF has recently seen a 323% gain from its $0.0759 close on January 8, trading at $0.3718 in the last 24 hours.
WIF operates on the Solana (SOL) network, which should not be overlooked. Bluntz predicts a potential 72% increase for SOL, possibly reaching over $150. An analysis of SOL’s 8-hour chart suggests it may have completed a three-wave decline and could test and reclaim the $90 to $100 price range before initiating a surge past $150.
In the last 24 hours, Solana’s price has increased by 1.5%, trading at $87.50 at the time of writing. The potential for significant gains in both WIF and SOL is highlighted by the recent market movements and Bluntz’s analysis.