Analyst bullish on Memecoin PEPE and POPCAT, predicts imminent rallies

• A popular crypto analyst said that PEPE is poised for a massive rally, pointing to its recent ABC corrective move, which usually precedes a five-wave rally.
• He also predicted that POPCAT will hit new highs, arguing that its price action mirrors that of Dogwifhat in March, before it reached unprecedented levels.

Frog-themed meme coin Pepe may be about to embark on a massive rally, a popular crypto analyst says, despite the token falling more than 20% in the past month.

PEPE trades at $0.00001249, losing 1% over the past day for a market capitalization of $5.25 billion, the third largest among meme coins after Dogemoneta and Shiba Inu. It gained 8.95% last week as most meme coins rebounded. However, the weekly rally was not enough to recover from the sharp drop earlier in the month; overall, the token has lost 21.3% in the last 30 days.

Despite the disappointing performance in June, pseudonymous trader Bluntz Capital you think that PEPE is poised for major gains. He told his 263,000 X followers that the meme coin has undergone an ABC correction and is about to embark on a five-wave rise.

This analysis is based on Elliot Wave Theory, which focuses on investor sentiment and psychology to detect recurring long-term price patterns. It is based on impulsive waves that create a long-term pattern and corrective waves that oppose this larger trend. One of his fundamental principles is that, following an ABC correction, the price of an asset undertakes a five-wave rally.

Another analyst chimed in PEPPER HODLers, keeping in mind that before a price breakout, an asset goes through a period of sideways trading and consolidation that discourages most investors.

“To climb the mountain of success and reach the top you need to have resilience, confidence and belief… The market has been rude to 95% of the projects in the last week or so, but that’s all part of the game we play. This team has been enthusiastic and their commitment to this project is 1000%,” he said. declared.

The investor shakeout is just as strong with whales as it is with retail investors. As Lookonchain recently revealed, a PEPE whale has capitulated and deposited over 700 billion tokens on Binance, worth $7.8 million. It has a total loss of $3.5 million.

Despite all the turbulence, PEPE remains one of this year’s best artists. Year to date it has gained 860%, the second highest gain among the top 100 coins, second only to other meme coins WIFEwhich gained 1,300%.

However, this year’s biggest performer was POPCAT. The Solana-based meme coin has gained 7,000% this year, to trade at $0.5733 for a total market capitalization of $561 million. In the last seven days alone, it has doubled in price and gained 18% in the last 24 hours.

Bluntz Capital believes POPCAT’s run is not over yet.

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