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

August 25, 2024
Reading Time: 3 mins read
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PEPE Breakout Approaching As Memecoin ‘Deja Vu’ Price Action Unfolds, Says Top Trader


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

“Took one have 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.”

Image
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 sooner than different altcoins when the market turns bullish.

“Memecoins will nonetheless vastly outperform all the things else on the way in which up, IMO (for my part). 

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

CAT, POPCAT, PEPE, WIF, FLOKI.” 

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

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

Consolidation underneath prior ATH (all-time excessive) with a sweep of each the high 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 product of 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 Each day Hodl are usually not funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your individual threat, and any losses you could incur are your accountability. The Each day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Each day Hodl an funding advisor. Please observe that The Each day Hodl participates in affiliate marketing online.

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