A popular cryptocurrency analyst, known for his accurate altcoin predictions, believes that a Solana-based meme token has reached its lowest point and is ready to bounce back. Bluntz, a pseudonymous trader with a large following on social media platform X, thinks that dogwifhat (WIF) has started a new upward trend after a significant correction.

According to Bluntz, WIF has shown signs of a bullish reversal on the lower time frame after a deep corrective move from its all-time high of $4.83. The analyst believes that the token has completed a five-wave rally on the hourly chart, indicating a shift in trend. He also notes that WIF has concluded an ABC correction and is poised for a rally above $3.

Bluntz uses the Elliott Wave theory, which suggests that a bullish asset typically experiences a five-wave rally followed by a three-wave ABC correction. He has allocated his funds to WIF again, indicating his confidence in the token's rebound. At the time of writing, WIF is worth $2.01.

The analyst is also bullish on (link unavailable) (FET), an artificial intelligence-focused altcoin. He believes that FET has flashed multiple signals indicating that the correction is over and is ready for a significant rally. Bluntz thinks that FET is a bottom and will "turbo pump" soon. At the time of writing, FET is trading for $1.35.

In conclusion, Bluntz's predictions suggest that WIF and FET may be ready for a rebound. While his analysis is thorough, it's important to remember that the cryptocurrency market is highly volatile, and investors should always do their own research before making any investment decisions.