A top analyst, known for timely altcoin calls, believes that Pepe (Pepe) and another meme coin counterpart are ready for a major rebound.
Anonymous analyst Bluntz told his 263,500 followers on social media platform X that PEPE seems ready to ignite a five-wave surge.
Bluntz relies on Elliott Wave Theory, which suggests that bullish assets often experience a five-wave rebound after completing an ABC correction.
The analyst shared a chart showing that PEPE has completed the ABC correction and is poised to bounce back during its rise to $0.0000145.
“Like the political public figures here, you can see a nice five-wave rise and a retracement of the ABC of ABC on ABC.”
Source: Bluntz/X
At the time of writing, PEPE is valued at $0.00001286.
Taking a look at Popcat, the analyst believes that the meme coin based on Solana (SOL) has also completed its correction.
“POPCAT entered a climax from its low point with a turbo-powered rebound.
Clearing five waves every day, taking a big step back after ABC, now it looks like it has completed.
I’m starting to feel like the meme is back, baby.”
Source: Bluntz/X
Bluntz emphasizes that POPCAT seems to reflect the market structure of memecoin dogwifhat (WIF), which then rebounded to a new all-time high in March.
“POPCAT fractal is interesting.
Where have I seen this structure before?”
Source: Bluntz/X
At the time of writing, POPCAT is trading at $0.486, up over 12% in the past day.
The top analyst also believes that meme coins and artificial intelligence will continue to attract the attention of cryptocurrency traders.
“In my view, memes and AI will continue to be two of the most important narratives. Choose your warriors wisely.”
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Image generated: midway