Crypto analyst Kaleo predicts a surge in memecoin activity on the Avalanche (AVAX) blockchain.
AVAX Poised for Growth
Kaleo believes that AVAX could see multiple memecoins with market caps exceeding $200 million. He predicts a potential price target of $100 for AVAX, representing a 130% increase from its current value.
Pepe Soars in Price Discovery
Over the weekend, Kaleo also called for a further rise in Pepe (PEPE) as it entered “price discovery.” The coin has since surged over 38%.
Price Discovery Explained
Price discovery refers to a situation where a coin trades at unprecedented levels. Kaleo’s chart suggests that PEPE could break through its resistance level of $0.00000449.
Disclaimer
The views expressed in this article are not investment advice. Investors should conduct their own research before making any cryptocurrency investments.
