Flow

Solana

<div class="dailyhodl">
 <p>A widely followed analyst and trader believes one Solana (SOL) ecosystem memecoin is gearing up for a major breakout.</p>
 <p>The analyst pseudonymously known as The Flow Horse tells his 202,800 followers on the social media platform X that dogwifhat (WIF) is on the verge of flipping a key resistance level at $0.42 into support and that could kick off a massive rally.</p>
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 <p><em>“There are some mega obvious setups across the board. Few are as clear as WIF right here. This base is setting up a much larger leg higher again.”</em></p>
 <figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GHSHCwoWoAAkxLy?format=png&amp;name=large" alt="Image" width="1551" height="716">
  <figcaption class="wp-caption-text">
   Source: The Flow Horse/X
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 <p>WIF is trading for $0.62 at time of writing, up more than 30% in the last 24 hours.</p>
 <p>Next up, the trader is turning bullish on Ethereum (ETH) layer-2 project Optimism (OP), preferring it over Arbitrum (ARB). He cites another social media user’s OP versus ARB ratio (OP/ARB) chart, which suggests OP is going to continue outperforming ARB.</p>
 <p><em>“Agree. ARB isn’t a long hold, OP long stays on.”</em></p>
 <figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GHSzVJKagAAc0Xi?format=png&amp;name=4096x4096" alt="Image" width="2637" height="1165">
  <figcaption class="wp-caption-text">
   Source: Comfortably Long/X
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 </figure>
 <p>Optimism is trading for $3.73 at time of writing, down nearly 3% in the last 24 hours.</p>
 <p>The trader is also bearish on ARB because of the project’s scheduled token unlocks. Unlocks are often perceived as bearish because they create a new sellable supply.</p>
 <p><em>“Oh yeah, way worse than I knew about. Taking this off. No use tying up capital in anything that isn’t A+ right now with the amount of trades that are available.”</em></p>
 <figure style="width: 100%" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GHTRzvyW4AAOFvu?format=jpg&amp;name=large" alt="Image" width="1550" height="755">
  <figcaption class="wp-caption-text">
   Source: The Flow Horse/X
  </figcaption>
 </figure>
 <p>Arbitrum is trading for $1.91 at time of writing, down more than 2% in the last 24 hours.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/top-trader-says-solana-based-memecoin-setting-up-for-much-larger-leg-up-here-s-his-outlook-tbt81088.html">https://thebittimes.com/top-trader-says-solana-based-memecoin-setting-up-for-much-larger-leg-up-here-s-his-outlook-tbt81088.html</a></p>

Top Trader Says Solana-Based Memecoin Setting Up for ‘Much Larger’ Leg Up – Here’s His Outlook

TheBitTimes

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