A trader who continues to grow his following with timely altcoin calls thinks an Ethereum (ETH)-based memecoin is gearing up for a massive upward move.
Pseudonymous analyst Bluntz tells his 270,400 followers on the social media platform
According to the analyst, PEPE’s two-hour chart resembles Bitcoin’s (BTC) price action in January 2023, when it bottomed and traded around $16,000.
“I watched PEPE once this morning and had a deja vu as if I had seen this before.
I did and it was BTC at the cycle low of 16,000.”
After bottoming in January last year, Bitcoin rose to a new all-time high of $73,737 in March this year – an increase of more than 360% in about 15 months.
At the time of writing, Bitcoin is trading at $64,199, while PEPE is worth $0.0000094.
The analyst too names a handful of memecoins that he thinks will move faster than other altcoins if the market turns bullish.
“Memecoins will still far outperform everything else on the way up, IMO (in my opinion).
The simplest strategy is to choose some frogs, dogs and cats:
CAT, POPCAT, PEPE, WIF, FLOKI.
Looking at BNB, the parent asset of tier-1 chain BNB Chain, Bluntz believes the crypto asset is gearing up for a major breakout on its way to new all-time highs.
“BNB has one of the cleanest high time frame charts here, IMO.
Consolidated below previous ATH (all-time high) reaching both the top and bottom of the range and has now regained it.
These setups are IMO T1 (tier-one) setups, and we got one in an extremely high time frame.
Legal what dreams are made of IMO, soon $1,000.
At the time of writing, BNB is worth $579.86.
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Generated image: DALLE3