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$WIF Going to at Least $1, Predicts Prominent Crypto Analyst

2 Mins read

Over the past week, pseudonymous crypto analyst Bluntz has been analyzing the price action of Solana meme token DOG WIF HAT ($WIF), offering a bullish outlook on its future.

On January 4, Bluntz observed what he described as a “nice clean 5 wave rise” in the price of $WIF. This term refers to a pattern in technical analysis, often used in the Elliott Wave Theory, where a price trend is expected to unfold in five distinct waves. Following this rise, he noted a 77% decline in the token’s value, a movement he referred to as an “abc down.” This is another technical analysis term indicating a three-part corrective pattern. Seeing this as an opportune moment, Bluntz mentioned accumulating $WIF, believing it to be an excellent entry point for potential significant gains.

Further, on the same day, he highlighted a “beautiful 5 wave move” from the previous lows and a subsequent abc correction, praising the token’s response to a critical price level of $0.08, which reinforced his positive bias towards $WIF.

On January 8, Bluntz shared that he observed bullish divergences on the 12-hour charts for $WIF. Bullish divergences occur when the price of an asset makes a new low, but a technical indicator used to predict future price movements does not, suggesting a potential reversal in the downward trend of the asset. He also commented on the passionate community around $WIF, noting its extreme market behavior.

By January 10, Bluntz pointed out signs of accumulation in $WIF, a term used to describe a phase where investors are actively buying or ‘accumulating’ an asset, often in anticipation of a future price increase. He encouraged followers to take note of those promoting the token at its current lower prices rather than when it’s significantly higher.

On January 11, Bluntz reported a 165% gain on his $WIF position, expressing confidence that the token could reach at least $1, highlighting the community’s enthusiasm and potential for driving the price up.

In a related development reported by CoinDesk, a significant trade involving $WIF took place, where a buyer spent nearly $9 million on the token in three transactions. This trade was executed in a low-liquidity pool, meaning there wasn’t enough trading volume to absorb the large order without affecting the price. Consequently, the price of $WIF spiked to as high as $3 before crashing down to around 15 cents.

This resulted in a slippage loss of over $5.7 million for the trader. Slippage in trading refers to the difference between the expected price of a trade and the price at which the trade is actually executed. Some market observers have speculated that this trade could have been a marketing stunt to draw attention to $WIF, especially given its recent price decline.

At the time of writing, $WIF, which was launched last month, is trading at around $0.2242, up 63.5% in the past 24-hour period. Its $209.59 million market cap makes it the 263th most valuable cryptoasset.

Featured Image via DogWifHat


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Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
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