An analyst who earned the “Master Trader” rank on the crypto exchange Bybit believes that one frog-themed memecoin will leave most digital assets in the dust.
Pseudonymous trader Bluntz tells his 276,300 followers on the social media platform X that he sees Pepe (PEPE) pulling off an over 2x rally en route to a fresh all-time high.
The trader shares a chart suggesting that PEPE could surge to as high as $0.22.
“I like to chart all my meme positions against each other to gauge what looks the strongest and then designate whichever that one is as my largest bag.
Healthy to have some diversification of course, but I always try to have my largest position in the fastest horse.
The fastest horse (of my bags) seems to be PEPE.”
At time of writing, PEPE is trading for $0.000112, up over 5% on the day.
Another altcoin on the trader’s radar is Sui (SUI), a layer-1 crypto project referred to by many as the Solana (SOL) killer.
According to Bluntz, SUI appears to be in the midst of a wave three surge and he sees the altcoin bursting close to $2.60 before its five-wave rally concludes.
“SUI is just a certified beast at this point, every dip on four-hour ends up ABC looking and keeps trucking higher, even this one.
Definitely in a macro wave three still and hasn’t even had a wave four yet.”
Bluntz relies on Elliott Wave theory, which states that a bullish asset tends to witness a five-wave surge with waves one, three and five serving as impulsive upside bursts and waves two and four as corrective periods. It also suggests that a bullish asset often rallies after an ABC correction.
Based on the trader’s chart, he seems to suggest that SUI will surge above $2 for its third wave before correcting and rallying to new all-time highs.
At time of writing, SUI is worth $1.71.
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The post Top Analyst Says One Memecoin Is His Fastest Horse, Updates Outlook on Altcoin Dubbed As Solana Killer appeared first on The Daily Hodl.
