Solana-Based Memecoin That’s Skyrocketed Over 40,000% Year-to-Date About To Go Parabolic, Says Top Analyst

A widely followed cryptocurrency analyst and trader is turning bullish on a memecoin built in the Solana (SOL) ecosystem.

The analyst pseudonymously known as Bluntz tells his 286,900 followers on the social media platform X that Popcat (POPCAT) is “about to go parabolic.”

Bluntz says that Popcat has stayed “insanely strong” amid a correction in the crypto market over the past few days.

“Strength during marketwide pullbacks usually turns into undeniable outperformance during market-wide strength.”

Based on a four-hour chart by the pseudonymous analyst who regularly applies the Elliott Wave theory in his technical Analysis, it appears that Bluntz is suggesting that Popcat could surge to above $2.30 in a five-wave pattern. The Elliott Wave theory states that the main trend of the price of an asset moves in a five-wave pattern while a correction occurs in a three-wave pattern.

Source: Bluntz/X

The pseudonymous analyst also says that Popcat, which had earlier reached an all-time high of around $1.67, has broken out of an ascending channel on the daily time frame.

“First time I’ve seen a channel breakout into an all-time high, usually they happen at bottoms.”

Source: Bluntz/X

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

Comments

Post a Comment

Popular posts from this blog

Dogecoin Forecasted to Hit $1: Here's When

Image
Dogecoin, initially conceived as a humorous cryptocurrency, has witnessed a notable surge in both popularity and market value throughout its existence. The asset managed to reach a peak of $0.1063 earlier in the same week. However, at press time, DOGE was trading at $0.09657 with a 5% daily drop. Market Dynamics and Open Interest A pivotal factor propelling Dogecoin ’s recent surge lies in the notable increase in notional open interest linked to DOGE futures and perpetual futures contracts. According to data from CoinGlass, there has been a remarkable 58% surge in open interest over the preceding week, reaching a substantial $625 million. This figure stands as the highest since Nov. 2, 2022, and industry experts contend that this surge, coupled with the rising price, validates a significant upward trend in the market. The Path to $1 As Dogecoin gains momentum and successfully breaches various resistance levels, the prevailing question among investors centers on its potential ...
Read more

Which Meme Coins Could Explode in Value by 2025? $WEPE, $SLAP, and $STARS

Image
As Bitcoin approaches the $100k milestone once again, the meme coin surge shows no signs of slowing down. This presents a fantastic opportunity to invest in low-priced meme coins. Whether they are in the presale stage or already trading on the market, meme coins have proven their ability to deliver significant gains with modest investments. Investing at early presale prices offers significant benefits. These prices offer an entry point before the tokens reach the open market, where they often experience substantial price increases, rewarding early investors. For instance, projects like Wall Street Pepe and Crypto All-Stars are currently in their presale stages, presenting excellent investment potential. Similarly, Catslap, which is already trading, continues to generate strong returns, proving the lucrative nature of meme coins for those who seize the opportunity early. Wall Street Pepe (WEPE) The Pepe-themed trend continues with the recent presale of Wall Street Pepe. The initia...
Read more

Tesla (TSLA) Cybertruck Qualifies for up to $7,500 in US Tax Credit

Tesla’s Cybertruck now qualifies for up to $7,500 in Federal IRA US tax credits, according to Fuel Economy. The truck, which starts at $79,990, has been below the $80,000 price target to qualify for some time but is only just allowed for the credits. The tax credit is expected to provide a short-term sales boost for the popular EV. https://twitter.com/watcherguru/status/1874889404185288849?s=46 All-electric, plug-in hybrid, and fuel cell electric vehicles purchased new in 2023 or after may be eligible for a federal income tax credit of up to $7,500. This includes the recent Tesla Cybertruck model. In addition, Pre-owned Cybertrucks purchased in 2023 or after are eligible for a tax credit of up to $4,000. Tesla Cybertrucks to Give Big Tax Credit The Tesla Cybertruck has been in hot water over the last 24 hours, following a situation involving a truck in Las Vegas. On January 1, a Cybertruck parked outside Trump Hotel in the tourist hotspot mysteriously exploded, leaving the driver ...
Read more