A prominent analyst is cautioning crypto bears that their opportunity to push the market lower is diminishing. The pseudonymous analyst, the Flow Horse, shared his optimistic outlook on Solana (SOL)-based meme token dogwifhat (WIF) with his 220,100 followers on the social media platform X.

The analyst asserts that WIF is one of the leading tokens in the memecoin sector and anticipates it will continue to demonstrate strong performance until the bull market concludes. He states, “Re-buying WIF. Claiming you’re no longer bullish on the strongest memes implies you believe the market participants have completely changed or their preferences have shifted. This is very unlikely; it’s more probable that WIF’s strength will persist until the cycle ends.”

The crypto strategist also points out that despite the plethora of memecoins issued this year, standout tokens will always attract traders’ attention. “Unfortunately, there is significant dilution since creating a meme token now involves no barriers. However, capital will still favor certain ones.”

Currently, WIF is valued at $2.30, marking an increase of over 14% in the past 24 hours. Regarding the broader digital asset market, the Flow Horse warns that crypto bears may soon face a short squeeze, especially after altcoins surged last week while Bitcoin remained stable at $60,000.

A short squeeze occurs when traders who have borrowed an asset at a specific price to sell it at a lower price are compelled to repurchase the assets as the market moves against them, leading to further price rallies. The analyst explains, “Alts did not outperform Bitcoin during the last decline. Many traders engage in long-short BTC/ALTs positions. The clock is ticking for bears before another squeeze occurs.”

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