PEPE Breakout Approaching As Memecoin ‘Deja Vu’ Price Action Unfolds, Says Top Trader
The post PEPE Breakout Approaching As Memecoin ‘Deja Vu’ Price Action Unfolds, Says Top Trader appeared on BitcoinEthereumNews.com.
A trader who continues to grow his following with timely altcoin calls thinks that an Ethereum (ETH)-based memecoin is gearing up for a huge upside move. Pseudonymous analyst Bluntz tells his 270,400 followers on the social media platform X that he has his radar locked 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 was bottoming and trading at around $16,000. “Took one look at PEPE this morning and had deja vu like I’d seen this before. I had and it was BTC at the 16,000 cycle bottom lows.” Source: Bluntz/X After bottoming out in January last year, Bitcoin rallied to a fresh all-time high of $73,737 in March of this year – an over 360% rise in about 15 months. At time of writing, Bitcoin is trading for $64,199 while PEPE is worth $0.0000094. The analyst also names a handful of memecoins that he thinks will move faster than other altcoins when the market turns bullish. “Memecoins will still vastly outperform everything else on the way up, IMO (in my opinion). Easiest strategy is to pick some frogs, dogs and cats: CAT, POPCAT, PEPE, WIF, FLOKI.” Looking at BNB, the native asset of layer-1 chain BNB Chain, Bluntz believes the crypto asset is gearing up for a big breakout en route to new all-time highs. “BNB has one of the cleanest high timeframe charts here, IMO. Consolidation under prior ATH (all-time high) with a sweep of both the top of the range and bottom of the range and has now reclaimed it. These setups are T1 (tier-one) setups IMO, and we’ve been handed one on an extremely high timeframe. Legit what dreams are made of IMO, $1,000 soon.” Source: Bluntz/X At time of writing, BNB is…
Filed under: News - @ August 25, 2024 9:18 am