This memecoin is 'insanely bullish', according to analyst
With the return of the uptrend for Bitcoin (BTC), memecoins entered a new bullish phase. Proof of this recovery is that the best results this Wednesday (30) came from these cryptocurrencies, with the memecoin POPCAT registering the biggest increase of the day, appreciating 20%.
A cryptocurrency trader known as Bluntz places POPCAT and also Dogwifhat (WIF) as his favorite memecoins. Speaking to his more than 289,000 followers, Bluntz stated that the two cryptocurrencies are ready to trigger a strong uptrend.
Along with them, two other memecoins that could stand out in 2024 are still in the pre-sale phase, which gives them even greater profit potential. These memecoins are Crypto All Stars and Flockerz, which are among the most innovative projects of 2024.
WIF and POPCAT Analysis
In his analysis, Bluntz states that WIF is exhibiting several bullish signs in the Solana pair (WIF/SOL), as shown in the chart below. For the trader, these signs indicate that memecoin is preparing for a major bullish reversal.
Bluntz practices Elliott wave theory, which states that an asset's trend tends to end after a five-wave movement. Based on the trader's chart, it appears to suggest that WIF/SOL has completed a five-wave correction, during which WIF has trended lower.
As the wave pattern suggests a trend reversal, Bluntz believes WIF has already made a bottom this cycle. Now, the trader projects that memecoin should begin its recovery trend.
“SOL is leading the market now and the WIF/SOL pair is bottoming out. The pair records a huge five-point decline on the four-hour chart and is diverging sharply. With SOL looking insanely bullish, I think WIF is about to go crazy. I’m ready to accumulate,” said the trader.
Optimism with pre-sales
Although WIF is one of the market's greatest promises, its value is already very high by memecoin standards. If you want to acquire cheaper tokens with greater return potential, one of them is Crypto All Stars, a project that has already accumulated almost US$3 million in its pre-sale.
The main attraction of Crypto All Stars is a staking service open to any memecoin, including names like FLOKI, SHIB and WIF. Whoever owns these tokens can leave them on the platform's staking service, whose yield exceeds the 520% return mark.
In return, the user receives STARS tokens – and if you purchase your tokens, you can stake them immediately. The faster you enter, the higher your returns, which also offer a bonus in the case of STARS staking.
Flockerz is an even more recent pre-sale and has an innovative business model, which gives voting power to its users and also rewards them for exercising this power. Whoever owns FLOCKERZ tokens can decide the direction the project should take and which updates will be approved or rejected.
In addition to contributing to the evolution of the network, this entitles you to special rewards, such as discounts and very generous staking rates.