Solana-based memecoin up over 40,000% year to date and about to go parabolic, says top analyst

A extensively adopted cryptocurrency analyst and dealer is rising bullish on a memecoin constructed within the Solana (SOL) ecosystem.

The analyst, pseudonymously generally known as Bluntz tells his 286,900 followers on the social media platform

Bluntz says Popcat has remained “insanely sturdy” amid a correction within the crypto market in latest days.

“Power throughout market-wide pullbacks often turns into simple outperformance throughout market-wide energy.”

Based mostly on a four-hour chart from the pseudonymous analyst who often applies Elliott Wave principle in his technical evaluation, it seems that Bluntz is suggesting that Popcat might rise above $2.30 in a five-wave sample. Elliott Wave Concept states that the primary development of an asset’s worth strikes in a five-wave sample, whereas a correction happens in a three-wave sample.

So does the pseudonymous analyst say that Popcat, which had beforehand hit an all-time excessive of round $1.67, has damaged out of a rising channel on the day by day time-frame.

“The primary time I see a channel break to an all-time excessive often occurs on the backside.”

Popcat is buying and selling at $1.58 on the time of writing, up about 40.415% from the all-time low of $0.00379 reached in early January.

Do not miss a beat – Subscribe to obtain e mail alerts straight to your inbox

Verify worth motion

Observe us additional X, Facebook And Telegram

Surf to the Each day Hodl combine

Generated picture: Midjourney