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) submit that WIF’s subsequent transfer to the upside may very well be the one which makes its value 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 transfer occurred.
Bluntz is understood 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 submit, he boldly claimed that WIF to “$1 is programmed.”
WIF is presently ranked because the sixth-largest meme token by market cap, based on information 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?
Additionally it is 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 value is approach decrease at round $0.0000114.
Apparently, Arthur Hayes, the previous CEO and co-founder of crypto alternate BitMEX, had highlighted WIF as one in all two altcoins he would put money into. He additionally prompt that the meme coin overtake BONK, stating that the latter was the “final cycle’s doggy cash.” 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%. Compared, BONK has seen a decline of over 14%. The crypto token can be better off since extra eyes are anticipated to be on the Solana ecosystem heading into the subsequent bull run.
On the time of writing, WIF is buying and selling at round $0.29, down over 11% within the final 24 hours, based on information from CoinMarketCap.
Meme coin’s value drops to $0.3 | Supply: WIFUSDT on Tradingview.com
Featured picture from Crypto Every day, chart from Tradingview.com
