Dogwifhat (WIF) predicts a 44% surge, marking a staggering 994% growth since February and bolstering the Solana ecosystem. Meanwhile, Pepe (PEPE) has surged by 780% in just one month, suggesting further potential gains without any sudden downturns.
Solana (SOL) is attracting significant trader attention, driven by the remarkable performance of memecoins like dogwifhat (WIF) and Pepe (PEPE). Analyst Bluntz anticipates continued growth for these memecoins, suggesting potential earnings for investors and subsequently for the Solana ecosystem.
Dogwifhat (WIF) Sparks Interest with V-Shaped Recovery
Dogwifhat (WIF) has caught the attention of Bluntz and his substantial following of 244,400 traders after experiencing a V-shaped recovery on its hourly chart. This recovery hints at a potential uptrend, backed by Elliott Wave theory, which suggests the completion of a correction with the fulfillment of a three-wave pattern.
the $wif turbo V reversal here is pretty amazing, next leg up is gonna be a monster pic.twitter.com/D7zC8X48zT
— Bluntz (@Bluntz_Capital) March 5, 2024
At the time of writing, WIF is trading at $2.08, marking an impressive 994% surge from its value of $0.190 on February 7th. Bluntz predicts that WIF could witness a further 44% increase in value in the next phase of the rally, potentially reaching between $2.50 and $3.
Missed Opportunities: Developers’ Losses Amidst Price Surge
On-Chain Analysis by Lookonchain: According to data from on-chain analysis provided by Lookonchain, developers may have overlooked significant potential earnings amounting to more than $693 million during the recent price spike in the cryptocurrency market.
The saddest thing is that the $WIF dev sold 350M $WIF for 511 $SOL($29K) within 2 days after open trading.
The 350M $WIF is worth 693M currently!https://t.co/gDNKlLslfP pic.twitter.com/UhpXNrrvp2
— Lookonchain (@lookonchain) March 8, 2024
Missed Earnings: Reports from Lookonchain indicate that the developer exchanged 350 million WIF tokens for 511 SOL (equivalent to $29,000) just two days after trading commenced. However, with the current market valuation, these tokens are now estimated to be worth over $693 million.
The saddest thing is that the $WIF dev sold 350M $WIF for 511 $SOL($29K) within 2 days after open trading.
The 350M $WIF is worth 693M currently!https://t.co/gDNKlLslfP pic.twitter.com/UhpXNrrvp2
— Lookonchain (@lookonchain) March 8, 2024
Developer’s Strategy Unveiled Amidst WIF Token Dynamics
Despite the significant rise in token value, the developer of WIF has opted to retain some tokens in a wallet instead of immediately liquidating them. Additionally, reports highlight a transaction where 489,674 WIF tokens were acquired for 2 SOL ($110), followed by the sale of 12.4 million WIF tokens for 896,000 USDC.
Source: X/@Bluntz_Capital
In tandem with WIF’s developments, Bluntz draws attention to Pepe (PEPE), another memecoin witnessing remarkable growth, soaring approximately 780% in the last month. Unlike WIF, PEPE has not displayed any signs of impulsive decline, indicating potential for further highs according to Bluntz.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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