A top analyst known for making timely altcoin calls believes that Pepe (PEPE) and other fellow memecoins are poised for a massive rally.
Household analyst Bluntz told his 263,500 followers on social media platform X that PEPE appears poised to trigger a fifth-wave surge.
Bluntz relies on Elliott Wave Theory, which states that bullish assets tend to witness five-wave rallies after completing an ABC correction.
The analyst shares a chart showing that PEPE has already completed its ABC correction move and is ready to rise to $0.0000145.
“I like PEPE here. I think we could see a nice five-wave rise and ABC falling again.
“It’s one of the few alternatives that creates new lows without actually smoking a cigarette.”
As of this writing, PEPE is worth $0.00001286.
Looking at POPCAT, the analyst believes that the correction is also over for Solana (SOL)-based memecoins.
“POPCAT heating up with a strong turbo bounce forming a low point.
Once you clear 5 waves each day and screw up your ABCs big time, it seems like you’re done and done.
“I’m starting to think memes are back.”
Blunts emphasized that POPCAT appears to mirror the market structure of memecoin dogwifhat (WIF) before rallying to all-time highs in March.
“POPCAT fractals for fun.
“Where have you seen a structure like this before?”
As of this writing, POPCAT is trading at $0.486, up more than 12% in the past day.
The top analyst also believes that memecoins and artificial intelligence (AI) will continue to attract the attention of cryptocurrency traders.
“I think memes and AI will continue to be the two best primary narratives. Choose your fighter wisely.”
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