Renowned for accurate predictions, a crypto analyst named Bluntz has forecasted a significant decrease in the meme coin WIF, which holds a position in the top 50 of market value. The analyst anticipates a decline of over 50% for this altcoin.
Insight into Analyst Bluntz’s Forecast for WIF
Bluntz, an anonymous crypto analyst, cautioned users on X social media platform of a potential decline of approximately 66% in WIF, a meme coin functioning on the Solana Blockchain.
Known for utilizing Elliott Wave theory in technical analyses, Bluntz indicated that WIF may be nearing the completion of a corrective three-wave pattern. As per Elliott Wave theory, price trends primarily manifest in a five-wave structure, with corrections happening in a three-wave formation.
By observing the shared price chart, it seems that the analyst foresees WIF establishing a base around $1 before progressing towards record highs.
Presently ranked as the 43rd largest cryptocurrency concerning market value, WIF was valued at $2.94 during the drafting of this article. The meme coin basing on Solana encountered a low of $0.069 on January 10, 2024, marking an over 42-fold increase in value within a span of four months.
Credible Crypto Also Anticipates a Decrease in WIF
In conjunction with Bluntz, another reputable crypto analyst, identified as Credible Crypto, cautioned about a projected decrease in WIF and various other meme coins. Credible Crypto indicated a potential drop of around 47% from the present price levels of WIF.
While issuing the alert, the analyst highlighted the nearing decrease, mentioning, “If you have not assessed yet, and/or do not anticipate a substantial decline in WIF under $2, Dogecoin (DOGE), and other meme coins, it is not too late for that.”
Originally published on COINTURK NEWS: Crypto Analyst Predicts Significant Drop for Meme Coin WIF
