A well-known cryptocurrency analyst and trader is sharing his positive outlook on a memecoin built on the Solana blockchain, while also providing his forecast for Ethereum’s future. The analyst, who goes by the pseudonym Flow Horse, has a following of 216,400 users on the social media platform X. He suggests that dogwifhat (WIF), a memecoin featuring a dog wearing a hat in its logo, is currently consolidating on the daily chart. Flow Horse believes that after this consolidation phase, WIF has the potential to experience a bullish trend. “It looks like WIF isn’t ready to take off the hat.” Currently, WIF is trading at $2.97, a decrease of approximately 38% from its all-time high in March.

In regards to Ethereum, Flow Horse expresses that if the U.S. Securities and Exchange Commission (SEC) approves a spot Ethereum exchange-traded fund (ETF) – similar to Bitcoin’s recent approval – it could result in a weeks-long uptrend for ETH. Flow Horse states, “The Ethereum ETF trade is better than Bitcoin for too many reasons to list, but simply put: the market is still caught off guard by the pivot and there is still some doubt and disbelief that won’t enter until we get a headline. We can expect a short-term pop and correction followed by a strong upward trend over the course of several weeks. Additionally, it is easier to move ETH than it is BTC.” Currently, Ethereum is trading at $3,864, with a 29% increase over the past seven days.

Please note that the opinions expressed in this article are not investment advice, and investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Transfers and trades are done at one’s own risk, and any losses incurred are the responsibility of the individual. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor is it an investment advisor.