A widely followed analyst and trader is expressing bullish sentiment on an altcoin built on Solana (SOL) that has surged by over 100x in a couple of months.

The analyst pseudonymously known as Bluntz tells his 249,900 followers on the social media platform X that the low cap memecoin Myro (MYRO) is offering an opportunity to the upside on the eight-hour chart after enduring a double-digit correction.

Based on a chart posted by the analyst, it appears that Bluntz, who regularly applies the Elliott Wave theory in his technical analysis, is suggesting that MYRO is on the final leg of a five-wave pattern and could surge by around 163% from the current price and reach a new all-time high of about $0.55.

The Elliott Wave theory states that the main trend of the price of an asset moves in a five-wave pattern while a correction occurs in a three-wave pattern.

“There’s a nice MYRO catch-up play here for all those who missed dogwifhat. Dogwifhat will still outperform though.”

MYRO is trading at $0.209 at time of writing, up by 10,389 from the all-time low of $0.001995 reached on November 12th of 2023.

Next up is dogwifhat (WIF). Based on a chart by the pseudonymous analyst, Bluntz appears to suggest that WIF could complete the fifth wave on the daily chart and hit a price of just below $5, which would be a new all-time high.

WIF is trading at $2.21 at time of writing.

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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 loses 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.

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