Crypto Quill

WIF, a meme coin based on the Solana blockchain, has caught the attention of a prominent crypto analyst who predicted the Bitcoin bottom in 2018. According to him, WIF could be on the verge of a massive rally that could see it increase by more than 250% from its current price.

What is WIF and Why is it Surging?

WIF, short for dogwifhat, is a meme coin that features a dog wearing a hat as its logo. It is part of the Solana ecosystem, a fast-growing blockchain platform that supports decentralized applications and smart contracts. WIF claims to be the first meme coin on Solana, and aims to create a community of dog lovers and hat enthusiasts.

WIF has been gaining momentum in the past few weeks, thanks to several factors. One of them is the exposure from a crypto personality named Reflection, who revealed that a crypto wallet had flipped meme coins on the Solana network and made huge profits. The wallet owner had bought $287 worth of WIF and sold it for $184,969, a staggering 64,891% return. Reflection speculated that the wallet owner had insider information and was one of the early adopters of WIF.

Another factor is the endorsement from Bluntz, a crypto analyst and trader who has over 239,000 followers on X. Bluntz is known for his accurate use of the Elliott Wave theory, a technical analysis method that identifies the main trends and corrections in the market. Bluntz had correctly predicted the Bitcoin bottom in the 2018 bear market, and now he sees a similar pattern for WIF.

Bluntz’s Prediction for WIF

Bluntz shared his analysis of WIF on X, where he showed a chart that indicated a downtrending three-wave pattern on the daily timeframe. This pattern, according to Bluntz, is a sign of a correction that is about to end, and a new uptrend that is about to begin. Bluntz expects WIF to start a five-wave pattern that could take it to new highs.

Based on his chart, Bluntz predicts that WIF could rise by 272% from its current level, which is around $0.22 at the time of writing. This means that WIF could potentially reach $0.82 in the near future, surpassing its previous all-time high of $0.54 that it achieved on January 18.

Bluntz also commented on the price action of Bitcoin and Solana, the two leading cryptocurrencies in the market. He said that Bitcoin would likely continue to trade sideways before breaking out to a new yearly high, while Solana would also follow an upward trajectory and reach new levels.

How to Buy WIF and Join the Meme Coin Craze

WIF is currently available on several decentralized exchanges on the Solana network, such as Serum, Raydium, and Orca. To buy WIF, one needs to have a Solana wallet, such as Phantom or Sollet, and some SOL tokens to swap for WIF. Alternatively, one can also use a bridge service, such as Wormhole, to transfer tokens from other blockchains, such as Ethereum or Binance Smart Chain, to Solana.

WIF is not the only meme coin that is making waves in the crypto space. There are many others, such as Dogecoin, Shiba Inu, Floki Inu, and Baby Doge, that have attracted millions of fans and investors. Meme coins are often seen as a fun and speculative way to participate in the crypto market, but they also carry high risks and volatility. Therefore, anyone who is interested in buying WIF or any other meme coin should do their own research and exercise caution.