June 12, 2024

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Cryptocurrency Analyst: Solana memecoins will explode again

Cryptocurrency Analyst: Solana memecoins will explode again

The Flow Horse, a popular Twitter pseudonym analyst, predicts that it won’t be long before Solana-based meme coins explode again. For example, he points to Dujuifat (WIF), which currently appears to be going through a period of consolidation on the daily chart.

According to the analyst It won’t be long before WIF suddenly erupts.

WIF is ready to take off his hat

“It looks like WIF is ready to tip its hat,” The Flow Horse said, meaning the coin is about to start exploding in price.

WIF is currently trading about 35% below the all-time high the coin reached in March of this year.

The analyst is also bullish on Ethereum, especially due to the SEC’s approval of the Spot Ethereum ETF. He is so bullish on Ethereum that he expects the currency to regain ground against Bitcoin.

Ethereum looks strong

“Ethereum ETF trading is better than Bitcoin for many different reasons, but simply put:

“The market has not yet realized that there is a tilt going on and you can guarantee there will still be doubt and disbelief until we get a headline,” The Flow Horse said.

In the short term, a small correction is expected for Ethereum, and then a strong uptrend against Bitcoin.

However, it remains to be seen how successful the ETF will be. For example, investors in ETFs do not receive a return through staking, which can be a big reason why many people do not invest in Ethereum through ETFs.

After all, this means that you will lose between 3 and 6% of the currency on an annual basis, which is what other investors would get.

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