The trader updated his outlook for SYN, saying that Memecoin is showing tremendous strength, having gained over 27,000% in less than a year.

A prominent crypto strategist believes one popular MME coin could have even greater upside potential.

Altcoin Sherpa, an anonymous analyst, told his 217,600 followers on social media platform X that PEPECOIN could see a major pullback before resuming its uptrend.

“The mighty PepeCoin is doing well right now and showing a lot of strength. Whether it will continue its momentum is yet to be seen, but watch out for the 200-day EMA (exponential moving average) around here. $2.30ish would be a decent entry point in the short term. I have the bag.”

PepeCoin is trading at $2.97 at the time of writing, up over 27,000% from its price of $0.01088 on October 13, 2023.

Next, the analyst compares the price chart of Synapse (SYN), a protocol that aims to enable secure cross-chain communication, to that of smart contract platform Sui Network (SUI).

He suggested that SYN may also be forming a similar SUI pattern and could soon turn higher as several exponential moving averages (EMAs) are rising on the 4-hour chart.

“This is why I like SYN. ​​This is the SUI chart (play) and SYN right now. But one of the problems I see is that SUI is somewhat epic with legitimate bids. SYN is a crappy bridge with a lot of better coins. I like SYN just by looking at the chart, but this is going to take some time…

Other bridges would probably be a better deal, but this is a good chart so let’s take a look.”

SUI is trading at $1.01 at the time of writing, up over 19% over the last 24 hours. Meanwhile, SYN is trading at $0.61 at the time of writing, up 8.6% on the day.

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Disclaimer: The opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investment in Bitcoin, cryptocurrencies or digital assets. Your transfers and transactions are at your own risk and any losses you may incur are your own responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets and The Daily Hodl is not an investment advisor. The Daily Hodl participates in affiliate marketing.

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