An analyst who has earned the rank “master trader” on the crypto exchange bybit believes that there are more meetings in store for two meme assets.
Pseudonymous trader Bluntz tells his 324,600 followers on the social media platform X that he thinks that the Memecoin Pudgy Penguins (Pengu) will rise about 66% of the current levels before he will complete a five -dwelling peak.
Bluntz practices the Elliott golf theory, which states that a bullish actively tends to see a five-golf rally.
Out the trader,
“Pengu has been a striking leader in the past week, who now looks like it is in an obvious wave three to get upside down here every day.
Anticipate this to test previous all-time highlights and possibly past the coming month or so.
Has an insane normie recovery power and in fact launched in a Meme Bear market, so it has never had a good price discovery, but I think time has come. “
Looking at the graph of the trader, he seems to suggest that Pengu will rise to $ 0.055. At the time of writing, Pengu is worth $ 0.0327.
Another memecoin on the trader’s radar is Bonk (Bonk), which he thinks follows in the footsteps of Pengu.
“Of all the big memes, Bonk and Pengu are two of the strongest that have already eliminated their most important May high resistors. Fortunately, Pengu will lead the road for Bonk in the coming weeks.
I’ve been these coins for a long time. ‘
The trader seems to predict that Bonk will rise to $ 0.000043. At the time of writing, Bonk acts at $ 0.00003.
Regarding the wider Altcoin market, the trader says that he monitors the Bitcoin Dominance (BTC.D) graphics, which follows how much of the crypto market capitalization belongs to BTC.
Blunt hints That the bearish divergence on the Bitcoin Dominance Chart is now taking place, which suggests that Altcoins is ready to rise faster than BTC in the current bullish environment.
A bearish divergence is a signal that indicates a waste momentum for an active or index.
“BTC.D, now break down well, love to see it.”
At the time of writing, BTC.D floats at 63.73%.
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Generated image: midjourney
