A popular crypto strategist thinks two red-hot memecoins are racing to new all-time highs.
Pseudonymous analyst Bluntz tells his 260,500 followers on social media platform
The top trader shares a chart suggesting PEPE could rise to new all-time highs of $0.000028.
“Despite the record highs, I think PEPE will remain the fastest horse for a while.”
At the time of writing, Pepe is worth $0.000016, indicating a 75% upside potential if the memecoin reaches Bluntz’s target.
Next, the analyst is also bullish on fellow meme token Floki (FLOKI).
“I get pre-PEPE all-time high vibes from FLOKI.
The graph looks very nice in my opinion.”
Based on the trader’s chart, it appears that Bluntz is predicting a new all-time high of $0.00044 for FLOKI. At the time of writing, FLOKI is trading at $0.000294.
The crypto strategist also keeps a close eye on the top altcoin Ethereum in his Bitcoin pair (ETH/BTC). The trader sees ETH/BTC dip below 0.052 BTC ($3,553) before breaking out and rising to 0.06 BTC ($4,100).
“12 hours of bearish divergence on ETH/BTC and a clear impulsive increase in the give wave. Give me a shakeout dip before the turbo ships, please.
The trader applies Elliott Wave theory, which states that a bullish asset tends to correct after a five-wave wave. Looking at the trader’s chart, he seems to suggest that ETH/BTC has already completed a five-wave rally and is ready for a leg to the downside.
Bluntz’s reading is supported by a bearish divergence, a signal indicating that the pair is losing momentum despite the recent rise.
At the time of writing, ETH/BTC is trading at 0.05625 BTC ($3,842).
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Generated image: DALLE-3