๐ถ ๐๐ฎ๐ป ๐ช๐๐ ๐ฆ๐๐ฟ๐ฝ๐ฟ๐ถ๐๐ฒ ๐๐ด๐ฎ๐ถ๐ป? ๐ง๐ผ๐ฝ ๐๐ป๐ฎ๐น๐๐๐ ๐ฆ๐ฒ๐ฒ๐ ๐ฅ๐ผ๐ผ๐บ ๐ณ๐ผ๐ฟ ๐ฐ๐ณ๐ฌ% ๐ฅ๐ฎ๐น๐น๐
A well-known crypto analyst who nailed Bitcoinโs 2018 bottom has his eyes on WIF, a meme coin built on Solana and he says it may explode up to 470% from current levels.
๐ Whatโs Fueling the Forecast?
๐ The trader, Bluntz, is using Elliott Wave theory โ a popular pattern-based tool in technical analysis.
He believes WIF has started a 5-wave bullish pattern, which typically signals the beginning of a strong uptrend. If the pattern continues, WIF could surpass its March 2024 all-time high and possibly go much higher.
But thereโs a catchโฆ
Bluntz also expects a small dip first (around -10%) as part of a normal market cycle before the price kicks off the next big wave upward.
๐ง What Traders Need to Know
โ Current Trend: WIF looks to be in the early stages of a bullish cycle
๐ป Short-Term Expectation: A healthy pullback of 10% might happen
๐ Mid-Term Target: If the wave structure holds, a 470%+ upside move could unfold
โ ๏ธ Risk Factor: WIF is a memecoin โ moves are fast, sentiment-driven, and highly volatile
This means traders should stay alert, especially if the expected dip creates a good entry zone.
๐ Why It Matters
Memecoins have been making major comebacks lately and WIF, with its Solana backing and growing popularity, could become a leader of the next memecoin cycle. If whales or social buzz return, technical setups like this could move very quickly.
๐ Summary for Traders
WIF is showing signs of a major reversal, but it may dip slightly before taking off. For those watching the Solana ecosystem or meme coin sector, this could be a prime breakout setup but only if the technical pattern holds.
๐ Keep an eye on support zones during dips
๐ Watch for renewed volume and social buzz
๐ Consider small entries during weakness if trend stays intact