Analyst Predicts Over 100% Appreciation for Promising Solana-Based Cryptocurrency

The cryptocurrency market has many promising new projects. Recently, a highly followed cryptocurrency analyst known by the pseudonym The Flow Horse shared a bullish outlook on dogwifhat (WIF), a memecoin based on the Solana network, which has been attracting attention in the market. According to the analyst, on a social media platform, the WIF cryptocurrency has the potential to grow more than 116% compared to its current value.

The Flow Horse argues that despite recent daily drops in the price of WIF, now is an opportune time to accumulate more of the coin.

“Continuing to buy WIF on intraday dips. No top until a big explosion. Weekly VWAPs remained good entries. This is expected to persist as short-term leverage is continually eliminated and a strong spot supply remains. Aiming for at least $0.80,” he explained.

At the time of analysis, WIF was trading at $0.373, showing a drop of almost 10% in the last 24 hours. Despite this volatility, interest in dogwifhat remains high, especially considering the potential future valuations highlighted by the analyst.

Continuing to buy $WIF on intraday dips. No top until major blow off.

Weekly VWAPs have remained good entries. Expecting this to persist while short term leverage is continually wiped and a strong spot bid remains.

Targeting at least .80 pic.twitter.com/vXHWCu6HLm

— HORSE (@TheFlowHorse) February 15, 2024

In addition to his expectations for WIF, The Flow Horse also discussed the relationship between Bitcoin (BTC) and altcoins, including WIF. According to him, Bitcoin’s short-term movements have a significant influence on the price trends of altcoins.

“Alts are in a strange situation. I woke up this morning, saw some positions in the red and took some of them. If Bitcoin continues to rise, I think you will see a breakout for quality effect as people dump alts that are not moving. On the other hand, any sharper correction that would be normal for BTC also weighs on these same alts,” he noted.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.