A trader who continues to grow his fan base through timely altcoin calls believes that an Ethereum (ETH)-based memecoin is preparing for a huge upside move.
Pseudonymous analyst Bluntz tells his 270,400 followers on social media platform X that he has his sights set on the memecoin Pepe (PEPE).
According to the analyst, PEPE’s two-hour chart resembles Bitcoin’s (BTC) price action in January 2023, when it bottomed out and traded at around $16,000.
“Took a look at PEPE this morning and had a feeling of déjà vu, like I’ve seen it before.
I had it and it was BTC at the 16,000 cycle low.”
After hitting its lowest point in January last year, Bitcoin’s price rose to a new all-time high of $73,737 in March this year – an increase of over 360% in about 15 months.
At the time of writing, Bitcoin is trading at $64,199, while PEPE is worth $0.0000094.
The analyst also names a handful of memecoins that he believes will move faster than other altcoins when the market turns bullish.
“In my opinion, memecoins will still far outperform everything else on the way up.
The simplest strategy is to select a few frogs, dogs and cats:
CAT, POPCAT, PEPE, WIF, FLOKI.”
Looking at BNB, the native asset of the Layer 1 BNB Chain, Bluntz believes the crypto asset is preparing for a major breakout en route to new all-time highs.
“BNB has one of the cleanest high time frame charts here in my opinion.
Consolidation below the previous ATH (all-time high) with a breakthrough of both the top and bottom of the range that has now been reached again.
These setups are, in my opinion, T1 (stage one) setups, and we got one in an extremely long time frame.
This is truly the stuff dreams are made of, soon to be $1,000 in my opinion.”
At the time of writing, BNB is worth $579.86.
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Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, nor is it an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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