Renowned economist Henrik Zeberg has forecasted a significant 2,500% price increase for the memecoin Dogwifhat (WIF), predicting it could reach $78. This prediction is based on a technical analysis highlighting a large ABC corrective pattern, suggesting a retracement within a broader bullish trend.
Zeberg's analysis illustrates a series of five smaller waves within this larger ABC structure, aligning with Elliott Wave theory principles. These waves represent the stages of the price rally, culminating in a potential price of $78 once the correction phase concludes.
The analysis includes predicting short-term price movements, such as a potential rise to $6.59, followed by a dip and then a climb towards $13-$15 by late November. These intermediate targets are crucial in achieving the ultimate price goal of $78.
Zeberg's prediction emphasizes the impact of market psychology on price movements, using Fibonacci retracement and extension levels to project potential support and resistance zones as WIF progresses. This technical approach underlines the bullish sentiment surrounding Dogwifhat's future price trajectory.
