Memecoin Market Heats Up as Crypto Analyst Foresees Surge
Release: 2024/02/28 23:24 Reading: 883
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Noted cryptocurrency analyst Bluntz, recognized for his successful prediction of the Bitcoin market’s downturn in 2018, now forecasts a bullish trend for two influential memecoins. Over the recent weekend, Bluntz detected a robust uptrend which, in his assessment, could signal the commencement of a much-anticipated memecoin rally within the digital currency sphere.
Prospects for Dogwifhat (WIF) Look Promising
Bluntz’s positive outlook predominantly features the Solana-powered Dogwifhat (WIF) coin. He highlighted the coin’s resilience in maintaining a sequence of higher lows subsequent to a corrective pattern consisting of three waves, suggesting a robust underlying support for WIF.
Utilizing Elliott Wave theory, a method that interprets market trends as psychological patterns, Bluntz observed WIF’s consistent higher lows that follow each corrective wave, suggesting a pattern of steady accumulation. According to his analysis, WIF is on the cusp of a breakout from an ascending triangle pattern, leading him to predict a potential surge toward a $1.40 price level. WIF’s recent 42% leap in value within a 24-hour span aligns with the analyst’s bullish stance.
Pepe (PEPE) Coin Gains Traction
Bluntz also cast a spotlight on Pepe (PEPE), another memecoin which he believes is positioned for growth. He pointed to PEPE just concluding its own three-wave correction, preparing for an upward trajectory towards a target of $0.0000022.
At present, with a 30% rise in the last day, PEPE trades at $0.000001832, paralleling the prediction by Bluntz. Despite the current waves of optimism stirred by his forecasts, potential investors should note that memecoins are notorious for their high volatility, which can lead to fluctuations and rapid market shifts, potentially diverging from the expected trend for both WIF and PEPE.
The post first appeared on BH NEWS: Memecoin Market Heats Up as Crypto Analyst Foresees Surge
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