Crypto analyst Bluntz Capital not too long ago supplied a bullish narrative for the Dogwifhat (WIF) token. As a part of his evaluation, he prompt that the meme coin may go head-to-head with the foremost meme cash, Dogecoin (DOGE) and Shiba Inu (SHIB).
WIF To Go “Turbo Parabolic”
Bluntz hinted in an X (previously Twitter) post that WIF’s subsequent transfer to the upside could possibly be the one which makes its worth go “turbo parabolic.” He added that the meme coin would unlikely see any additional pullback on the $0.50 resistance. From the accompanying chart the analyst shared, one may see that he was hinting on the meme coin hitting $1 when this parabolic move occurred.
Bluntz is thought to be very bullish on the meme coin and has shared a number of technical analyses of the meme coin’s chart on his X platform. That is additionally not the primary time he has prompt that the crypto token will rise to $1. In a earlier X post, he boldly claimed that WIF to “$1 is programmed.”
WIF is presently ranked because the sixth-largest meme token by market cap, in response to knowledge from CoinMarketCap. The crypto token has a market cap of $296 million, far behind the likes of DOGE and SHIB, which boast a market cap of $12 billion and $5.5 billion, respectively.
New Meme Coin To Overtake Bonk?
It’s also value mentioning that WIF (a Solana-based token) isn’t the biggest meme coin within the Solana ecosystem. The crypto token is presently ranked second behind BONK (which has a market cap of $725 million). Nonetheless, the altcoin’s rise to $1 may see the meme coin doubtlessly declare the highest spot, primarily as a result of BONK’s worth is manner decrease at round $0.0000114.
Curiously, Arthur Hayes, the previous CEO and co-founder of crypto change BitMEX, had highlighted WIF as one in all two altcoins he would spend money on. He additionally prompt that the meme coin overtake BONK, stating that the latter was the “last cycle’s doggy money.” Then, he added that “if it ain’t Wif Hat, it ain’t shit.”
The altcoin has already made vital strides to start out this 12 months, boasting a year-to-date acquire of over 90%. As compared, BONK has seen a decline of over 14%. The crypto token can also be better off since extra eyes are anticipated to be on the Solana ecosystem heading into the next bull run.
On the time of writing, WIF is buying and selling at round $0.29, down over 11% within the final 24 hours, in response to data from CoinMarketCap.
Meme coin's worth drops to $0.3 | Supply: WIFUSDT on Tradingview.com
Featured picture from Crypto Day by day, chart from Tradingview.com
