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PEPE Breakout Approaching As Memecoin ‘Deja Vu’ Price Action Unfolds, Says Top Trader – The Daily Hodl

26 August 2024
in Altcoin
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A dealer who continues to develop his following with well timed altcoin calls thinks that an Ethereum (ETH)-based memecoin is gearing up for an enormous upside transfer.

Pseudonymous analyst Bluntz tells his 270,400 followers on the social media platform X that he has his radar locked on the memecoin Pepe (PEPE).

In line with the analyst, PEPE’s two-hour chart resembles Bitcoin’s (BTC) worth motion in January 2023 when it was bottoming and buying and selling at round $16,000.

“Took one take a look at PEPE this morning and had deja vu like I’d seen this earlier than.

I had and it was BTC on the 16,000 cycle backside lows.”

Supply: Bluntz/X

After bottoming out in January final 12 months, Bitcoin rallied to a recent all-time excessive of $73,737 in March of this 12 months – an over 360% rise in about 15 months.

At time of writing, Bitcoin is buying and selling for $64,199 whereas PEPE is price $0.0000094.

The analyst additionally names a handful of memecoins that he thinks will transfer quicker than different altcoins when the market turns bullish.

“Memecoins will nonetheless vastly outperform every part else on the best way up, IMO (in my view). 

Best technique is to select some frogs, canine and cats:

CAT, POPCAT, PEPE, WIF, FLOKI.” 

Taking a look at BNB, the native asset of layer-1 chain BNB Chain, Bluntz believes the crypto asset is gearing up for an enormous breakout en path to new all-time highs.

“BNB has one of many cleanest excessive timeframe charts right here, IMO. 

Consolidation beneath prior ATH (all-time excessive) with a sweep of each the top quality and backside of the vary and has now reclaimed it.

These setups are T1 (tier-one) setups IMO, and we’ve been handed one on an especially excessive timeframe.

Legit what desires are made from IMO, $1,000 quickly.”

Image
Supply: Bluntz/X

At time of writing, BNB is price $579.86.

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Disclaimer: Opinions expressed at The Day by day Hodl usually are not funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your personal threat, and any losses it’s possible you’ll incur are your accountability. The Day by day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Day by day Hodl an funding advisor. Please word that The Day by day Hodl participates in affiliate internet marketing.

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Tags: ActionApproachingBreakoutDailyDejaHodlmemecoinPEPEPriceTopTraderUnfolds
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