A top analyst known for making well-timed crypto calls is unveiling a huge price target for the Solana (SOL)-based memecoin dogwifhat (WIF).

Pseudonymous analyst Bluntz tells his 264,200 followers on the social media platform X that WIF appears to be in the early stages of a fresh five-wave rally.

Bluntz practices the Elliott Wave theory, which states that a bullish asset tends to go through a five-wave upside move. The trader shares a chart suggesting that WIF could skyrocket to as high as $11 by November of this year before concluding its five-wave surge.

“Don’t be afraid to dream a little bigger.

WIF.”

At time of writing, WIF is trading for $2.26, indicating an upside potential of over 386% if the memecoin hits the analyst’s target.

The trader is also keeping a close watch on Bitcoin (BTC). Bluntz says he continues to be bullish on the crypto king after its most recent quarterly candle flipped resistance at around $60,000 into support.

“Imagine thinking this BTC quarterly chart looks bearish, couldn’t be me.” 

Looking at Bitcoin’s weekly time frame, Bluntz shares a chart suggesting that BTC is consolidating within a triangle pattern. According to the chart, BTC looks poised for a rally above $68,000 (D wave) before a last leg down to $62,000 (E wave).

“Cracking BTC weekly shaping up now.”

The chart also appears to suggest that BTC will break out and rally above $80,000 after the E-wave correction.

At time of writing, Bitcoin is trading for $62,842.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: DALLE3

CRV, the native token of stablecoin lending platform CurveDAO, is close to all-time lows again as the ecosystem attempts a recovery from a large liquidation event this month.

Blockchain tracking firm Lookonchain reports that a whale deposited over $6 million worth of CRV to Binance, presumably to sell at a loss.

“The 22 million CRV was bought after the CRV liquidation, with a buying price of ~$0.33.

Selling now will result in a loss of ~$1 million.”

On June 13th, Curve founder Michael Egorov announced that all of his loans, reportedly worth roughly $156 million, were liquidated. He also said that he sold millions of CRV tokens in an organized transaction to one of the partners of crypto asset investment firm NextGen Digital Venture.

“The amount of CRV liquidations was very large for the market to handle in half an hour (1/3 of circulating supply or so), so to prevent any bad debt, I sold 30 million of my not yet vested CRV to @Christianeth on June 13th . Those 30 million CRV are being received by him in chunks by mid-August.

If you see CRV transactions from my wallet to christian2022.eth, they are related to that deal…”

On the same day of Egorov’s liquidation, CRV dropped to an all-time low of $0.239. Currently, CRV is trading at $0.28 and is now 98.3% down from its all-time high of $15.37.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The decentralized oracle network Chainlink (LINK) leads all ERC-20 projects in terms of recent development activity, according to new data published by the crypto analytics platform Santiment.

Santiment notes that Chainlink registered 560.6 notable GitHub events in the past 30 days.

Status (SNT) was second, clocking 385.97 events.

Status aims to offer users a secure messaging app, crypto wallet and web3 browser via an open-source, peer-to-peer protocol and end-to-end encryption.

Ethereum (ETH) itself was third on Santiment’s list, registering 314 notable events.

The analytics firm notes that it doesn’t count routine updates and utilizes a “better methodology” to collect data for GitHub events based on a “backtested process.”

Santiment has previously said that heavy development activity centered around a crypto project indicates developers believe in the protocol. Development activity also suggests that the project is less likely to be an exit scam.

LINK is trading at $14.04 at time of writing. The 17th-ranked crypto asset by market cap is down more than 2% in the past 24 hours.

SNT is trading at $0.0264 at time of writing. The 395th-ranked crypto asset by market cap is down more than 1% in the past day.

ETH is trading at $3,385 and is down more than 2% in the past 24 hours.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney