Interest in meme coins within the cryptocurrency market remains high due to their potential for rapid and substantial gains. DOGE and SHIB dominate this market, but tokens like PEPE and POPCAT are also making notable progress. Analysts now suggest that meme coins may be on the brink of a resurgence following recent declines, with a particular focus on PEPE and POPCAT.
Will PEPE’s Price Increase?
A prominent analyst known for his insights on altcoins has indicated a significant potential rally for Pepe (PEPE) and another meme coin. Bluntz, a well-followed analyst on social media platform X, suggests that PEPE is gearing up for a five-wave upward movement.
Bluntz believes that PEPE’s price is set to rise based on the Elliott Wave theory, which includes an ABC correction. According to him, the ABC correction is over, and a new upward price movement towards $0.0000145 might be imminent. His comments highlight the potential for a significant rally in PEPE’s value.
Currently trading at $0.00001255, PEPE has seen a 1.8% decline in the past 24 hours. Despite this drop, its market cap stands at $5.3 billion, securing its position as the third-largest meme coin. The 24-hour trading volume has decreased by 29.5%, reaching $736 million.
What is the Current Status of POPCAT?
Bluntz also analyzed Popcat (POPCAT), a meme coin based on the Solana (SOL) blockchain. He believes that POPCAT has undergone a similar correction and is poised for a strong comeback. The analyst noted that POPCAT has shown a robust bounce from low levels, indicating that the ABC correction phase might be complete.
Bluntz drew comparisons between POPCAT and another meme coin, WIF. He observed that POPCAT’s current chart pattern resembles the one WIF had before its price surge to an all-time high in March. At present, POPCAT is trading at $0.4653, reflecting a 0.5% increase over the past 24 hours.
Concrete Insights for Investors
For investors looking to capitalize on these predictions, here are some actionable insights:
- Monitor PEPE for a potential price move towards $0.0000145.
- Keep an eye on POPCAT’s price trends, particularly its bounce patterns.
- Consider the Elliott Wave theory as a tool for analyzing meme coin price movements.
- Stay updated on market caps and trading volumes for a clearer investment picture.
In conclusion, recent analyses suggest that meme coins like PEPE and POPCAT might be gearing up for significant rallies. As always, investors should conduct thorough research and stay informed about market trends to make well-founded decisions.