Analysts Predict Potential Surge for Solana Memecoin

Experts known for their timely Altcoin predictions are suggesting that a Memecoin operating on the Solana network is gearing up for significant gains.

A pseudonymous analyst, Bluntz, recently shared insights with 319,800 followers on a social media platform, indicating that the Memecoin SPX6900 (SPX) is experiencing a notable upswing based on Elliott Wave theory.

This theory posits that bullish assets typically display five-wave patterns, with Wave 3 being the strongest and most rapid ascent. Bluntz remarked, “The SPX looks insane in my opinion. The whole price action from the lows in March was all 1-2, and there weren’t even three of the waves yet.”

From the charts, it seems Bluntz is predicting a rise for the SPX to around $2.20, even though it is currently priced at $1.10.

Additionally, analysts remain optimistic about another Solana-based meme coin, Dogwifhat (WIF). Bluntz believes that WIF could reach $1.25 in the near future. He commented, “Whatever WIF was already, completely and truly regaining its scope, and it looked impulsive. I think this pullback was four waves.”

WIF is currently valued at $0.97.

Looking at the broader Altcoin landscape, Bluntz expressed that a certain group of coins may excel above others, stating, “When the actual Altcoin bids come back, memes are always the strongest.” He added, “It really doesn’t matter how terrible the basics are. Because at the end of the day, everything is steamer anyway, and we all know that.”

Shifting focus, traders have mentioned that Bluntz also has his eyes on silver, believing it could surpass its previous high of $50. He noted, “The silver/gold ratio appears to be starting to roll in favor of silver, signaling a massive breakout.” He speculated that, in contrast to gold price trends, a price of $75 for silver isn’t far-fetched.

As of now, silver is priced at $34.50.