Popular cryptocurrency analyst Bluntz has suggested that Solana-based meme coin WIF has the potential to experience a major rally. The pseudonymous analyst told his 268,500 followers on social media platform X that WIF is about to break out of a falling wedge formation. This formation usually signals waning selling momentum and therefore a potential bullish signal.
According to Bluntz’s chart, WIF is expected to rise to $8 after breaking out of this formation. According to CoinGecko data, WIF is currently trading at $1.63. The analyst also shared positive views on the native token of Solana-based decentralized liquid staking protocol Jito (JTO). Bluntz stated that JTO hit the bottom after completing the ABC correction.
Bluntz noted that when WIF moves, it usually moves fast and hard, and he emphasized that if he hadn’t already taken a position, he would have definitely kept buying. The analyst also shared a chart that shows that WIF could be making a parabolic rally towards $8.
If WIF rises from $1.8 to $8 as the analyst predicts, that would mean an increase of approximately 444%.
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