Pseudo-analyst Bluntz Analyzes DOG WIF HAT ($WIF)
In the past week, Bluntz has been examining the price movements of the Solana meme token DOG WIF HAT ($WIF), offering a bullish perspective on its future.
Early Signals For Bullish Trend
On January 4, Bluntz saw a clear 5-wave increase and a 77% decline in the token’s value. He recognized this as a good opportunity, indicating $WIF as a potential path for considerable gains.
Positive Bias For $WIF
On the same day, he pointed out a strong 5-wave move from previous lows and a subsequent abc correction, showing $WIF’s positive response to a critical price level.
Bullish Divergence Indicated
By January 8, Bluntz highlighted bullish divergences on the 12-hour charts for $WIF, suggesting a potential reversal in the asset’s downward trend.
Encouragement To Investors
On January 10, Bluntz noted signs of accumulation in $WIF and encouraged followers to consider investing in the token at its current lower prices.
DOH WIF HAT ($WIF) Could Reach $1
On January 11, Bluntz reported a 165% gain on his $WIF position, expressing confidence that the token could reach a minimum of $1.
$9M Of $WIF Traded In Low Liquidity Pool
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, leading to a slippage loss of over $5.7 million for the trader.
$WIF’s Market Performance
As of now, $WIF is trading at around $0.2242, up 63.5% in the past 24-hour period, and has a market cap of $209.59 million, making it the 263th most valuable cryptoasset.
Hot Take
Bluntz’s analysis suggests a bullish trend for DOG WIF HAT ($WIF) with positive signals and potential gains for investors. However, the recent slippage loss due to the significant trade shows the potential risks of low-liquidity trading pools and market volatility.
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