Solana (SOL) Memecoin Hits Bottom, AI Altcoin Fetch.ai (FET) Ready to Rally

• Bluntz suggests Solana-based memecoin WIF may have reached a new bottom following a substantial correction from its peak at $4.83. Based on Elliott Wave’s theory, his analysis indicates a potential trend reversal and a possible rally above $3.
• Another memecoin on the radar is Fetch.ai, as the commencement of the Artificial SuperIntelligence Alliance (ASI) merger involves Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN).

Renowned for accurate altcoin predictions, pseudonymous analyst Bluntz recently alerted his 263,800 followers on X about potential bullish signals for meme coin WIF, built on Solana (SOL). Bluntz suggests WIF may have reached a new bottom following a substantial correction from its peak at $4.83.

“Feeling confident WIF’s bottom is in,” Bluntz stated, noting a 70% drop to $1.46 and a structured three-wave correction pattern as indicators. He highlighted a recent impulsive rise from lows, marking a significant turning point, adding, “I am now fully allocated to WIF again.”

Utilizing Elliott Wave theory, which identifies market cycles, Bluntz pointed to a completed five-wave rally on the hourly chart, signaling a potential trend reversal. His analysis suggests WIF may soon rally above $3. As of press time, WIF price is trading 10.23% up at $2.22 with a market cap of $2.2 billion.

Another interesting development is that Dogwifhat has surpassed two big giants, Dogecoin and Shiba Inu, in daily trading volumes. In the past 24 hours, WIF recorded trading activity of approximately $600 million, surpassing Pepe (PEPE) at $518 million, which took second place. Notably, Dogecoin (DOGE), the dominant meme coin, ranked third with a trading volume of $424 million, reported Crypto News Flash.

Bullish Take on Solana Memecoin Fetch.AI

Bluntz is optimistic about Fetch.ai (FET), an altcoin focused on artificial intelligence (AI). The trader believes multiple indicators point to the end of its correction phase.

“FET is my top pick in the AI sector,” he said. After a 68% decline from peak to trough, it has retraced to its previous all-time high, displaying a clear three-wave correction pattern. “I see this as a bottom, and expect significant upward momentum ahead,” added Bluntz.

According to the Crypto News Flash report, the industry is eagerly anticipating the July 1 commencement of the Artificial SuperIntelligence Alliance (ASI) merger involving Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN). To provide clarity to the community, Fetch.ai founder Humayun Sheikh has addressed concerns regarding Coinbase’s role in the merger process.

In an unexpected announcement, Coinbase revealed that it does not plan to support the tripartite token merger. Sheikh responded by reassuring the community that this will not pose an issue, as centralized exchanges (CEXes) do not need to list or relist FET since it is already available on these platforms.

According to the merger arrangement, AGIX and OCEAN will first be integrated into FET at a predefined ratio. Subsequently, FET will transform into the ASI token. Sheikh mentioned that the team has initiated a dialogue with Coinbase and hopes to reach a resolution soon.

As of press time, Fetch.ai’s FET token is trading 3% down at $1.36 with a market cap of $3.4 billion.