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Renowned cryptocurrency analyst and trader The Flow Horse made a positive prediction about Dogwifhat (WIF), a Solana (SOL)-based memecoin, and offered a striking forecast for the altcoin king Ethereum (ETH). The Flow Horse, who has a significant following on the social media platform X, highlighted that both altcoins show promising potential for growth.
Dogwifhat’s (WIF) Consolidation and Potential Surge
The Flow Horse stated that Dogwifhat’s WIF, characterized by its distinctive logo featuring a dog wearing a hat, is currently in a consolidation phase on the daily timeframe.
Despite the current trading price of $2.97, which is about 38% lower than its all-time high in March, the analyst believes WIF could rise after this consolidation period.
The analyst commented, “It seems WIF is not ready to take off the hat,” implying that the altcoin could soon make a directional move. This consolidation phase could provide WIF with a solid foundation for a potential short-term price increase.
Ethereum’s ETF Approval and Expected Uptrend
The Flow Horse also shared his thoughts on Ethereum’s ETH, the largest altcoin by market capitalization. He stated that the approval of a spot Ethereum exchange-traded fund (ETF) by the US Securities and Exchange Commission (SEC) could lead to a significant and long-lasting uptrend for ETH.
Commenting on the outlook, the analyst said, “Ethereum ETF trading is better than Bitcoin for too many reasons to list.” According to The Flow Horse, the market might still be underestimating the impact of such an approval. The analyst predicts that the announcement of ETF approval could trigger a short-term price increase followed by a weeks-long uptrend.
The analyst emphasized that ETH could experience a stronger positive impact compared to BTC due to its relative ease of movement in the market.
