A widely followed crypto trader is expressing bullish sentiment for one memecoin rival of Dogecoin (DOGE) and Shiba Inu (SHIB).
Pseudonymous analyst Bluntz tells his 227,700 followers on the social media platform X that Pepe (PEPE) could soar by more than 30% from its current value.
Bluntz utilizes the Elliott Wave theory in his technical analysis. The Elliott Wave theory states that the main trend of the price of an asset moves in a five-wave pattern.
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“PEPE looking primed for another 30%+ move up on daily to make a clean five wave rise with three being the longest.”
Source: Bluntz/X
Looking at his chart, the trader suggests wave five would result in Pepe trading for about $$0.00000160.
He also says that Pepe’s recent price pattern indicates
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