An analyst known for his accurate altcoin predictions has revealed that a memecoin running on Solana, called dogwifhat (WIF), is showing signs of a bullish reversal. The pseudonymous analyst, Bluntz, shared his findings with his 255,700 followers on the social media platform X. He pointed out that WIF may have hit a local bottom when it reached a low of $1.89 over the weekend. Bluntz practices the Elliott Wave theory, which suggests that a bullish asset experiences an ABC corrective move before a new five-wave rally. Based on his analysis, Bluntz believes that WIF’s recent price action indicates an upcoming upward movement. He noted a nice five-wave rise from the lows and an ABC pattern, which is positive in his opinion. As of now, WIF is valued at $2.64. Bluntz also expressed optimism about Near (NEAR), an Ethereum competitor. Despite a 50% correction in just one month, Bluntz sees opportunities for long-term holders in NEAR. He highlighted a clear ABC down from the highs, with five subwaves visible in the C wave, and an extremely oversold 4-hour RSI. Currently, NEAR is priced at $5.46, representing a 26% increase from its April low of $4.31. It’s important to note that the opinions expressed by Bluntz are not investment advice, and investors should conduct their own research before making any high-risk investments.