Analysis

Top Analyst Says One Memecoin Is His Fastest Horse, Updates Outlook on Altcoin Dubbed As Solana Killer

Published

12 months ago

September 29, 2024

An analyst who has earned the rank of “Grasp Dealer” on the cryptocurrency change Bybit believes that one frog-themed memecoin will depart most digital property within the mud.

Pseudonymous dealer Bluntz tells his 276,300 followers on social media platform

The dealer shares a chart that implies PEPE may rise to $0.22.

“I prefer to map all my meme positions in opposition to one another to gauge what appears to be like strongest after which designate whichever one that’s as my largest bag.

After all it is wholesome to have some diversification, however I at all times attempt to have my largest place within the quickest horse.

The quickest horse (of my baggage) appears to be PEPE.

On the time of writing, PEPE is buying and selling at $0.000112, up over 5% on the day.

One other altcoin on the dealer’s radar is Sui (SUI), a tier-1 crypto venture that many are calling the Solana (SOL) killer.

In response to Bluntz, SUI seems to be within the midst of a three-wave rally and he sees the altcoin bursting near $2.60 earlier than the five-wave rally ends.

“SUI is only a licensed beast at this level, any dip at 4 o’clock makes it look ABC and retains trucking larger, even this one.

Actually nonetheless in a macro wave three and there hasn’t even been a wave 4 but.”

Bluntz depends on the Elliott Wave principle, which states {that a} bullish asset tends to witness a wave of 5 waves, with waves one, three and 5 serving as impulsive upward bursts and waves two and 4 as correction durations. It additionally suggests {that a} bullish asset typically recovers after an ABC correction.

READ Analyst Says Crypto Investors Are Sleeping on One Large-Cap Altcoin, Sees Bottom for Solana-based Memecoin

Primarily based on the dealer’s chart, he appears to recommend that SUI will rise above $2 for the third wave, earlier than correcting and rallying to new all-time highs.

On the time of writing, SUI is price $1.71.

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