An analyst who achieved the rank of “Master Trader” on crypto exchange Bybit believes that a frog-themed memecoin will leave most digital assets in the dust.
Pseudonymous trader Bluntz tells his 276,300 followers on social media platform
The trader shares a chart suggesting that PEPE could reach $0.22.
“I like to compare all of my meme positions against each other to evaluate which seems strongest, then designate that one as my biggest bag.
It’s healthy to have some diversification of course, but I always try to have my biggest position on the fastest horse.
The fastest horse (of my bags) seems to be PEPE.
At the time of writing, PEPE is trading at $0.000112, up over 5% on the day.
Another altcoin on the trader’s radar is Sui (SUI), a layer 1 crypto project called by many the Solana Killer (SOL).
According to Bluntz, SUI appears to be in the midst of a third wave and he sees the altcoin breaking out to near $2.60 before its five-wave rally ends.
“SUI is just a certified beast at this point, every drop in four hours ends up looking like ABC and keeps climbing higher, even this one.
Definitely in a macro wave three and hasn’t even had a wave four yet.
Bluntz relies on Elliott Wave Theory, which states that a bullish asset tends to surge in five waves, with waves one, three, and five serving as impulsive bullish surges and waves two and four as corrective periods. This also suggests that a bullish asset often rebounds after an ABC correction.
Based on the trader’s chart, it seems to suggest that SUI will surpass $2 for its third wave before correcting and rising to new all-time highs.
At the time of writing, SUI is worth $1.71.
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