A well-known analyst and trader in the cryptocurrency space is sharing positive sentiments about a memecoin built on the Solana blockchain, while also providing insights into the future of Ethereum. Flow Horse, the pseudonymous analyst, has a large following of 216,400 on the social media platform X. He believes that dogwifhat (WIF), a memecoin with a dog wearing a hat as its logo, is currently in a consolidation phase on the daily chart. According to Flow Horse, WIF has the potential to turn bullish after this consolidation period. He humorously states, “It looks like WIF isn’t ready to take off the hat.”

As of now, WIF is trading at $2.97, which is a decrease of approximately 38% from its all-time high in March. Shifting focus to Ethereum, Flow Horse suggests that if the U.S. Securities and Exchange Commission (SEC) approves a spot Ethereum exchange-traded fund (ETF), similar to what happened with Bitcoin, it could lead to a weeks-long uptrend for ETH. Flow Horse believes that the Ethereum ETF trade is more favorable than Bitcoin for multiple reasons, but primarily because the market is still caught off guard by this development. He predicts a short-term surge and correction, followed by a strong upward trend over several weeks. Additionally, Flow Horse points out that it is easier to move ETH than BTC.

At the time of writing, Ethereum is trading at $3,864, showing a 29% increase over the past week. As always, investors are advised to conduct their own research and due diligence before engaging in high-risk investments in Bitcoin, cryptocurrency, or digital assets. The Daily Hodl, where Flow Horse’s insights were shared, emphasizes that transfers and trades are done at one’s own risk, with any potential losses being the investor’s responsibility. The Daily Hodl does not provide investment advice or act as an investment advisor, and it is important to note that they engage in affiliate marketing.