A top analyst known for his timely altcoin calls believes Pepe (PEPE) and another fellow memecoin are poised for massive rallies.
Pseudonymous analyst Bluntz tells his 263,500 followers on social media platform
Bluntz relies on the Elliott Wave theory, which states that a bullish asset tends to witness a five-wave rally after completing an ABC correction.
The analyst shares a chart showing that PEPE has already made an ABC correction and is poised for a rally heading towards $0.0000145.
“If I like PEPE here, I see a nice five-wave uphill and ABC back down.
One of the few alts that is actually not smoked and reaches new lows.”
At the time of writing, PEPE is worth $0.00001286.
Looking at Popcat (POPCAT), the analyst thinks the Solana (SOL)-based memecoin is also done correcting.
“POPCAT comes in strong with a turbo strong jump from the lows.
Erase five waves a day and big f**k from ABC back down, now it looks done and complete.
I’m starting to think memes are back baby.”
Bluntz highlights that POPCAT appears to mirror the market structure of memecoin dogwifhat (WIF) before launching a rally to record highs in March.
“POPCAT fractal for fun.
Where have I seen this structure before?”
At the time of writing, POPCAT is trading at $0.486, up over 12% in the past day.
The top analyst also believes that memecoins and artificial intelligence (AI) will continue to do so fixation the attention of crypto traders.
“Memes and AI will continue to be the two most important stories in my opinion. Choose your fighters wisely.”
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Generated image: Midjourney