Two low-cap memecoins are primed to surge greater amid low market sentiment, based on a well-liked crypto analyst.
The pseudonymous analyst generally known as Pentoshi tells his 846,600 followers on the social media platform X that he’s bullish on PENGU, the utility token for the non-fungible token (NFT) challenge Pudgy Penguins, as well as the memecoin Fwog (FWOG).
PENGU is buying and selling at $0.0244 at time of writing. The 88th-ranked crypto asset by market cap is up almost 4% prior to now 24 hours.
FWOG is buying and selling at $0.187 at time of writing. The 380th-ranked crypto asset by market cap is down almost 5% prior to now day.
Pentoshi additionally notes that crypto market sentiment is at present “extraordinarily low.”
“Listed below are the charts for the market and alts. What occurred? Over-trading is probably going a giant one, getting chopped on low time frames and never respecting developments or bigger ranges.
Buying and selling good cash/property for unhealthy ones, attempting to make it in a single day, taking too massive of threat on low share performs, and clearly returns this cycle will diminish bigly in alts as this cycle would be the smallest by far when it comes to share returns when it’s all mentioned and completed for quite a lot of causes we’ve already mentioned.
However for those who take a look at the market as an entire, the sentiment and charts don’t align at present.”
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