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Top Trader Says Altcoin That’s Up 2,000%+ in Two Months ‘Too Parabolic,’ Updates Forecast on PEPE

n70products by n70products
November 10, 2024
in Altcoin
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Top Trader Says Altcoin That’s Up 2,000%+ in Two Months ‘Too Parabolic,’ Updates Forecast on PEPE
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A extensively adopted cryptocurrency dealer is warning that one low-cap memecoin constructed on the Solana (SOL) blockchain might abruptly witness a bearish reversal.

Pseudonymous dealer Bluntz tells his 286,900 followers on the social media platform X that the hippopotamus-themed memecoin Moo Deng (MOODENG) seems to be within the midst of an ABC corrective transfer after briefly shattering the $0.30 stage.

Bluntz practices the Elliott Wave idea, which states {that a} bullish asset tends to witness rallies after finishing an ABC transfer down. In keeping with the analyst, MOODENG moved too excessive too quick it wants a major correction earlier than the following leg up.

“Might be wishful considering however I’d like to see a pullback right here on Moo Deng into white field so as to add. Beginning to get a wee bit too parabolic for my liking.”

Image
Supply: Bluntz/X

Moo Deng hit a excessive of $0.335 on November eighth, up greater than 2,000% from $0.0154 on September twentieth.

Subsequent up, the analyst believes that memecoin Pepe (PEPE) might outperform the Solana-based memecoin dogwifhat (PEPE/WIF) after printing an ABC correction on the each day timeframe.

“Am an enormous WIF enjoyer however PEPE/WIF is giving me large outperformance vibes. All the time attempting to be within the quickest horses and PEPE is wanting fairly quick proper now towards a number of cross pairs.”

Image
Supply: Bluntz/X

At time of writing, PEPE is price $0.0000105.

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