A well-known trader, renowned for accurately predicting altcoin movements, believes that a meme token based on Solana called dogwifhat (WIF) is entering a new uptrend. Going by the pseudonym Bluntz, this analyst informs his large following of 263,800 on the social media platform X that WIF has likely reached its lowest point. Bluntz explains that WIF is already showing signs of a bullish reversal on the shorter time frame after experiencing a significant drop from its all-time high of $4.83. He states, “I am starting to feel confident that the bottom for WIF has been reached. Not only did we witness a 70% correction from its peak to a low of $1.46, but the market structure unfolded exactly as I had anticipated, with a long and drawn-out three-wave pattern. Additionally, we are now seeing an impulsive rise of five waves from the lows, the first one in months. In my opinion, this indicates a major bottom, as long as the price remains above $1.46. I have now fully invested in WIF again.” Bluntz follows the Elliott Wave theory, which suggests that a bullish asset typically experiences a five-wave rally followed by a three-wave ABC correction. By examining the trader’s chart, it appears that WIF has completed a five-wave rally on the hourly chart, signaling a change in trend. The chart also indicates that WIF has finished its ABC correction and is positioned for a rally above $3. At the time of writing, WIF is valued at $2.01. Bluntz is also optimistic about the altcoin Fetch.ai (FET), which focuses on artificial intelligence (AI). According to the trader, FET is displaying several signals indicating that the correction is over. He states, “FET is my top pick in the AI sector. It has experienced a 68% dip from its peak to a low, and is now retesting its previous all-time high. The pullback structure is a clear three-wave move down. I believe this is the bottom, and FET will experience a significant price increase.” At the time of writing, FET is trading at $1.35.