Memecoins
Amid Bitcoin and Ethereum Fluctuations, Crypto Analyst Predicts Both Memecoins to Hit New All-Time Highs
May 29, 2024 10:25 a.m. | 2 minutes of reading
A crypto analyst has made bold predictions regarding the future of two popular memecoins, suggesting they are on track to reach new all-time highs. Additionally, the analyst predicted a significant recovery for Ethereum (CRYPTO: ETH).
What happened: Bluntz, a well-known crypto strategist, made a bullish prediction for two meme tokens, Pepe (PEPE) and Floki (CRYPTO: FLOKI), The Daily Hodl reported Wednesday.
Bluntz believes that Pepe, despite his recent 140% rise, still has significant growth potential, adding that he “will continue to be the fastest horse at the moment.” He forecasts a new all-time high of $0.000028 for memecoin.
Likewise, the analyst is bullish on Floki, suggesting that it could reach a new all-time high of $0.00044.
See also: Donald Trump: “I will ensure that the future of crypto and Bitcoin is made in the United States”
Bluntz is also keeping a close eye on Ethereum, predicting a temporary decline in its Bitcoin (ETH/BTC) pair before a rally to 0.06 BTC ($4,100).
He highlighted a bearish divergence, indicating a loss of momentum despite a recent bullish move, and suggested that the pair is poised for a correction after a five-wave surge, in line with Elliott Wave theory.
Why is this important: The memecoin market has shown resilience, with tokens like Shiba Inu (CRYPTO: SHIB) And dog hat (CRYPTO: Wireless) publication double-digit gains despite fluctuations in Bitcoin (CRYPTO: BTC) and Ethereum. This trend could further boost confidence in Bluntz’s predictions regarding Pepe and Floki.
Bluntz’s predictions align with the overall positive sentiment towards memecoins. Another analyst previously suggested that meme coins had always significant upside potentialwhile a cryptography expert had shared his ideas on identification high risk, high reward meme coins.
Price Action: At the time of writing, PEPE was trading at $5.89, FLOKI at $0.0002802, and ETH was trading at $3,793.25.
Read next: This Dog Coin is up 53% and “still in Ripper mode”… but it’s not Dogecoin
Image via Shutterstock
This story was generated using Benzinga Neuro and edited by Pooja Rajkumari
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