The analyst, who holds “Master Trader” status on cryptocurrency exchange Bybit, believes one frog-themed memecoin will ruin most digital assets.
Alien trader Bluntz told his 276,300 followers on social media platform
The trader shares a chart that suggests PEPE could surge to $0.22.
“I like to chart all the meme positions against each other to gauge which ones seem the strongest, and then designate the biggest bag of them all.
Of course it’s healthy to have some diversification, but I always try to get the biggest positions on the fastest horses.
“I think the fastest horse (of my bags) is PEPE.”
As of this writing, PEPE is trading at $0.000112, up more than 5% on the day.
Another altcoin that is gaining attention from traders is Sui (SUI), a layer 1 cryptocurrency project that many are calling the Solana (SOL) killer.
According to Bluntz, SUI appears to be in the midst of a three-wave surge, which saw the altcoin burst close to $2.60 before the end of the five-wave rally.
“SUI is just a proven beast at this point. Every time it drops for 4 hours ABC becomes visible and even in this case it keeps the truck higher.
We are definitely still in macro wave 3 and we haven’t even had wave 4 yet.”
Bluntz relies on Elliott Wave Theory. Elliott Wave Theory states that bullish assets tend to witness five-wave surges, with waves 1, 3, and 5 acting as impulsive upward bursts, and waves 2 and 4 acting as correction periods. This also suggests that bullish assets often bounce after ABC adjustments.
Based on the trader’s charts, he appears to suggest that SUI will surge over $2 in the third wave before correcting and hitting a new all-time high.
As of this writing, SUI is worth $1.71.
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