HomeNewsSOL and Solana-Based Altcoin Soar, Trader Reevaluates Dogecoin Forecast

SOL and Solana-Based Altcoin Soar, Trader Reevaluates Dogecoin Forecast

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  • Based on Elliott Wave theory, analyst Bluntz forecasts an upward trend for Solana (SOL), estimating a price increase to 0.00365 BTC ($254).
  • Bluntz is optimistic regarding Dogecoin (DOGE) and Jupiter (JUP), predicting rallies for JUP and a possible 100% increase for DOGE.

A well-known figure amongst cryptocurrency analysts, Bluntz has cultivated a following through postulations surrounding alternatives to mainstream blockchain.

In his latest projections, three niche networks are in his sights: Solana and its renewed determination to scale smartly, Jupiter seeking to broaden its cosmic reach, and Dogecoin’s irregular but loyal fanbase, who dream that its popularity and price may yet double.

Though daring in their depth and detail, only time will tell whether Bluntz’s bold visions realize or dissipate like so many before they are lost in the ether.

The Bright Future of Solana 

The analysis by Bluntz commences with Solana, a blockchain renowned for its expeditious transactions and minimal transaction fees. So, as per the analyst’s assessment, SOL is positioned for an increase subsequent to the apparent conclusion of an ABC corrective wave on the 8-hour chart against Bitcoin (BTC).

Based on Elliott Wave theory, this forecast indicates that SOL may experience a new bullish phase, with Bluntz predicting a possible increase to 0.00365 BTC ($254). According of the analysis, the prevailing market price for Solana was $194.24, suggesting a favorable prospect for further appreciation.

The Ascending Trajectory of Jupiter

Bluntz conveyed optimism regarding the forthcoming rallies of the decentralized exchange aggregator Jupiter, which is headquartered in Solana, following an ABC correction.

Source: Bluntz on X

Furthermore, he mentioned JUP as the “most powerful of the holy trinity,” which also comprises JTO and PYTH, alluding to its remarkable performance in the midst of the trio. Recent price movement, which has seen JUP increase by 7% in the past twenty-four hours to reach $1.52, supports his bullish stance.

Possible Dogecoin Surge

Finally, Bluntz conveyed his elation regarding Dogecoin, the widely used meme coin whose capricious beginnings and significant profits have engrossed the cryptocurrency community. It is clear that the current trends on the DOGE chart are similar to how Bitcoin moved in early 2023, when it found its footing around $16,000.

Also, Bluntz’s speculation regarding a possible 100% increase in Dogecoin arose from this comparison, which generated enthusiasm and expectation among investors.

Dogecoin whales have recently made significant moves, accumulating 1.4 billion DOGE amid news that Elon Musk sold $49.5 million worth of his holdings, according to a previous ETHNews report.

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Syofri is an active forex and crypto trader who has been diligently writing the latest news related to the digital asset sector for the past six years. He enjoys maintaining a balance between investing, playing music, and observing how the world evolves. Business Email: [email protected] Phone: +49 160 92211628