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Home»ALTCOIN NEWS»Solana-based memecoin surges more than 40,000% since the beginning of the year
ALTCOIN NEWS

Solana-based memecoin surges more than 40,000% since the beginning of the year

By Crypto FlexsOctober 25, 20242 Mins Read
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Solana-based memecoin surges more than 40,000% since the beginning of the year
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A widely respected cryptocurrency analyst and trader is bullish on the memecoin built on the Solana (SOL) ecosystem.

The analyst, who goes by the pseudonym Bluntz, told his 286,900 followers on social media platform

Bluntz said Popcat has remained “incredibly strong” even amid the cryptocurrency market correction over the past few days.

“Strength during market-wide declines typically translates into undeniable outperformance during market-wide strength periods.”

Bluntz appears to be suggesting that Popcat could surge above $2.30 in a five-wave pattern, according to a 4-hour chart prepared by an anonymous analyst who regularly applies Elliott Wave theory to technical analysis. Elliott Wave Theory states that major trends in asset prices move in a five-wave pattern, while corrections occur in a three-wave pattern.

Source: Bluntz/X

The anonymous analyst also says Popcat, which previously hit an all-time high of about $1.67, has broken out of its rising channel on the daily time frame.

“For the first time, we saw a channel hit an all-time high, which usually happens at the bottom.”

Source: Bluntz/X

Popcat is trading at $1.58 at the time of this writing, up about 40,415% from its all-time low of $0.00379 reached in early January.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and you will be responsible for any losses you may suffer. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

Image created by: Midjourney

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