A top analyst known for making timely altcoin calls believes that Pepe (PEPE) and another fellow memecoin are primed for massive rallies.
Pseudonymous analyst Bluntz tells his 263,500 followers on social media platform X that PEPE looks ready to ignite a five-wave surge.
Bluntz relies on the Elliott Wave theory, which states that a bullish asset tends to witness a five-wave rally after completing an ABC correction.
The analyst shares a chart showing that PEPE has already completed an ABC corrective move and is ready for a rally en route to $0.0000145.
“Liking PEPE here, can see a nice five-wave rise and ABC back down done.
One of the few alts to actually not get smoked and make new lows.”
At time of writing, PEPE is worth $0.00001286.
Looking at Popcat (POPCAT), the analyst thinks the Solana (SOL)-based memecoin is also done correcting.
“POPCAT coming in hot with a turbo strong bounce form the lows.
Clear five-waves up on daily and big f**k off ABC back down now looking done and complete.
I’m starting to think memes are back baby.”
Bluntz highlights that POPCAT appears to be mirroring the market structure of memecoin dogwifhat (WIF) before launching a rally to all-time highs in March.
“POPCAT fractal for fun.
Where have I seen this structure before?”
At time of writing, POPCAT is trading for $0.486, up over 12% in the past day.
The top analyst also believes that memecoins and artificial intelligence (AI) will continue to capture the attention of crypto traders.
“Memes and AI will continue to be the two top leading narratives in my opinion. Pick your fighters wisely.”
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Generated Image: Midjourney