“It is not advisable to invest in WIF and SOL,” cautions cryptocurrency analyst Bluntz.

A well-known expert on cryptocurrency trading, Bluntz, is warning investors to be careful about a memecoin based on Solana that could potentially experience a significant downfall.

Bluntz, who shares his insights with over 260,700 followers on X, believes that dogwifhat (WIF) may experience a 70% drop in value from its current levels. He predicts that WIF is currently undergoing a C-wave correction that could potentially bring the price down to $1.

Bluntz, leveraging the principles of the Elliott Wave theory, proposes that there has been a completion of a five-wave uptrend in WIF and expects a final decrease in value. In a recent update, he provided a visual representation of this potential downward trend.

Currently, the value of WIF is $3.44, which is a noteworthy rise from its low of $0.087 in January.

Bluntz has negative views about Solana, the fourth highest-valued cryptocurrency. He argues that the recent increase in SOL value followed a three-wave pattern, which suggests a possible downward trend. Based on his assessment, there might be another surge in SOL’s value around $180 before it goes down to below $140.

50.

As of now, the current trading price for Solana is $168.50.

Investors are advised to stay cautious and avoid high-risk investments in cryptocurrencies like WIF and SOL. Make sure to subscribe to receive email alerts and stay updated on price action in the crypto markets.

Never miss a thing – Sign up to receive email notifications directly in your inbox.

Check Price Action

:

Connect with us on X, Facebook, and Telegram.

Surf The Daily Hodl Mix