Top Trader Says Altcoin That’s Up 2,000%+ in Two Months ‘Too Parabolic,’ Updates Forecast on PEPE

A broadly adopted cryptocurrency dealer is warning {that a} low-cap memecoin constructed on the Solana (SOL) blockchain might abruptly witness a bearish reversal.

Pseudonymous dealer Bluntz tells In accordance with its 286,900 followers on social media platform

Bluntz applies Elliott Wave principle, which states {that a} bullish asset tends to witness rallies after finishing an ABC transfer down. In accordance with the analyst, MOODENG has risen too excessive too shortly and a major correction is required earlier than the subsequent leg rises.

“It could possibly be wishful considering, however I want to see a pullback right here on Moo Deng in a white field so as to add. I am beginning to get just a little too parabolic for my style.

Moo Deng reached a excessive of $0.335 on November 8, up greater than 2,000% from $0.0154 on September 20.

Then the analyst believes that memecoin Pepe (PEPE) might outperform Solana-based memecoin dogwifhat (PEPE/WIF) after printing an ABC correction on the day by day time-frame.

“I am an enormous WIF fan, however PEPE/WIF provides me enormous outperformance vibes. I at all times attempt to be with the quickest horses and PEPE presently appears fairly quick in opposition to a number of cross pairs.”

On the time of writing, PEPE is price $0.0000105.

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