Editor’s Note: The price of Pepe has been corrected in this article.
A crypto analyst has made bold predictions regarding the future of two popular memecoins, suggesting that they are on track to achieve new all-time highs. Additionally, the analyst has forecasted a significant rally for Ethereum ETH/USD.
What Happened: Bluntz, a well-known crypto strategist, has made a bullish prediction for two meme tokens, Pepe (PEPE) and Floki FLOKI/USD, The Daily Hodl reported on Wednesday.
Bluntz believes that Pepe, despite its recent 140% surge, still has significant potential for growth, adding that it would “continue to be the fastest horse for now.” He forecasts a new all-time high of $0.000028 for the memecoin.
Similarly, the analyst is optimistic about Floki, suggesting that it could reach a new all-time high of $0.00044.
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Bluntz is also keeping a close eye on Ethereum, predicting a temporary dip in its Bitcoin pair (ETH/BTC) before a rally to 0.06 BTC ($4,100).
He pointed out a bearish divergence, indicating a loss of momentum despite recent upward movement, and suggested that the pair is poised for a correction following a five-wave surge, in line with the Elliott Wave theory.
Why It Matters: The memecoin market has been showing resilience, with tokens like Shiba Inu SHIB/USD and Dogwifhat WIF/USD posting double-digit gains despite the fluctuations in Bitcoin BTC/USD and Ethereum. This trend could further strengthen the confidence in Bluntz’s predictions for Pepe and Floki.
Bluntz’s forecast aligns with the overall positive sentiment towards memecoins. Another analyst had previously suggested that meme coins still have significant upside potential, while a crypto expert had shared insights on identifying high-risk, high-reward meme coins.
Price Action: At the time of writing, PEPE was trading at $0.00001497, FLOKI at $0.0002802 and ETH was trading at $3,793.25.
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Image Via Shutterstock
This story was generated using Benzinga Neuro and edited by Pooja Rajkumari
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