Trader Says Memecoin Up More Than 27,000% in Less Than One Year, Showing Huge Strength, Updates Outlook on SYN

A intently watched crypto strategist believes one glowing memecoin might have extra upside potential.

Pseudonymous analyst Altcoin Sherpa tells its 217,600 followers on the social media platform

“Sturdy PepeCoin is presently doing properly and exhibiting lots of energy. It stays to be decided if this momentum will proceed, however look ahead to the 200-day EMA (exponential transferring common) round right here. $2.30 can be a good entry within the quick time period. I’ve a bag.”

PepeCoin is buying and selling at $2.97 on the time of writing, a acquire of over 27,000% since October 13, 2023, when it was price $0.01088.

Then the analyst compares the worth chart of Synapse (SYN), a protocol that goals to allow safe cross-chain communication, to the worth chart of the sensible contract platform Sui Community (SUI).

He means that SYN could also be forming the same SUI sample and will break larger quickly as a number of exponential transferring averages (EMAs) transfer larger on the four-hour chart.

“For this reason I like SYN. That is the SUI (repetition) graph earlier than versus SYN now. Nonetheless, one of many issues I see is that SUI has a legit provide and is considerably narrative; SYN is a nugatory bridge the place there are significantly better cash for it. I like SYN on the map alone, however this would possibly take some time…

I feel the opposite bridges are most likely higher trades. However this can be a good graph, so let’s have a look.”

SUI is buying and selling at $1.01 on the time of writing, up greater than 19% within the final 24 hours. In the meantime, SYN is buying and selling at $0.61 on the time of writing, up 8.6% on the day.

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Generated picture: Midjourney