Good Time To Buy Dogwifhat And Sealana Cheap As Meme Coins Recover

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The cryptocurrency market continues to face significant selling pressure, with Bitcoin breaking down below $61,000 to start the week. 

The Bitcoin price fell by over 5% today on Monday after defunct crypto exchange Mt. Gox announced that it will start its BTC repayments in July. Meme coins are faring even worse than BTC, with Dogwifhat, Pepe and Floki amongst the worst losers for the day.

However, experts are signalling that the bottom could be close for Bitcoin and meme tokens such as WIF, which appear poised to print a strong bullish reversal in the coming weeks. 

Investors are also eyeing new meme token launches over the coming week. Sealana – a high-potential Solana meme coin – is ending its successful presale phase on June 25th and is expected to see strong growth after launch. 

Is The Bottom In For Dogwifhat, Meme Coins

Large-cap meme coins have faced one of the worst capitulations of any asset class during the past month. 

For instance, Dogwifhat has corrected by over 40% in the past 30 days and is currently trading at just over $1.50. The Solana meme coin’s valuation currently stands at $1.6 billion, down by nearly $3 billion from its peak in April. 

Popular crypto analyst Bluntz (@Bluntz_Capital) – one of the top traders on ByBit – is justifiably collecting his flowers, being the first to call this downside move. 

In an X post – dated April 4th when WIF was still trading at $3.65 – Bluntz predicted that the Dogwifhat price would likely fall below $2, using Elliot Wave Theory to come to his conclusions. 

Fortunately for the bulls, Bluntz is now signalling that the bottom could be close for WIF. 

According to the Elliot Wave Theory, most stocks and tokens trade in repetitive patterns, known as fractals or waves. Indeed, WIF has followed this theory to a tee. 

The meme coin skyrocketed to its all-time high of $4.70 as part of the impulse wave, which typically consists of 5 smaller waves. Subsequently, the token price has followed the corrective wave, which comprises three smaller waves. 

Good Time To Buy WIF?

Dogwifhat is currently in its third corrective wave, which strongly suggests a major bullish recovery in the coming days. Bluntz has identified the 0.786 fib level as an excellent support for WIF, which could end up being the bottom.

However, this would mean that some pain still remains for the bulls, considering that the 0.786 Fib level for WIF currently stands at just above $1. Nevertheless, Bluntz believes that the market conditions are now optimal for investors to start accumulating the top Solana meme coin. 

He is also not the only expert signalling a bottom for the meme coin. Investor APE (@Ape_31) revealed today that he has longed $2.3 million worth of WIF. 

Analyst Crypto Wasta (@cryptowasta) has also backed the significance of the 0.786 Fibonacci level. 

WIF’s bullish reversal could also mark the bottom for other large-cap meme coins such as Pepe and Bonk as well. New meme coins such as Sealana are also in high demand and could receive a strong boost from WIF’s recovery.

Sealana Presale Ends June 25th – Last Chance To Buy

Sealana (SEAL) has been one of the top trending meme coins over the past weeks, driven by the FOMO surrounding its presale. 

The meme coin has already raised over $5 million, despite the suboptimal broader market conditions. However, its presale is set to end tomorrow, June 25th at 6 PM UTC. 

This leaves investors with mere hours to purchase the token at its cheap discounted ICO rate before its highly-anticipated launch, which is rumoured to take place on June 27th. 

Interested buyers can use the over-the-counter widget, available on the sealana.io website. Alternatively, they could send SOL tokens to the Sealana wallet and receive SEAL as an airdrop. The wallet address is 3LeVizuW3YoCnjfMfuQ22rSFQLDLdo9jXLKjyqfBU3w5. 

Smart money traders have already stacked Sealana ahead of its IEO, expecting its price to explode after the launch. 

While analysts such as TodayTrader are expecting a potential 10x surge immediately after launch, others are hinting at the possibility of 100x returns in the long term. 

As such, Sealana has seen strong demand right from the start of its presale, thanks to its comical mascot. Recently, his anti-establishment, pro-Trump comedy is also gaining traction. 

With the PolitiFi meta heating up in light of this year’s US presidential elections, experts believe that Sealana could deliver outsized returns in the months after its launch. 

*Cryptonomist did not write the article or test the platform.