A popular crypto analyst, known as Bluntz, is predicting big things for Popcat, a memecoin built on the Solana blockchain.
Popcat’s Strength Amidst Market Correction
Bluntz, who has over 286,000 followers on X (formerly Twitter), believes Popcat is poised for a major surge. He points to its resilience during a recent market downturn as a sign of its potential.
“Strength during market pullbacks usually means big gains when the market turns around,” Bluntz explained.
Elliott Wave Theory and Popcat’s Future
Using the Elliott Wave theory, Bluntz predicts that Popcat could reach $2.30 in a five-wave pattern. This theory suggests that asset prices move in predictable patterns, with five waves representing an upward trend and three waves representing a correction.
Popcat Breaks Out of Channel
Bluntz also highlighted Popcat’s breakout from an ascending channel on the daily chart. This is unusual, as channel breakouts typically occur at the bottom of a price trend.
“This is the first time I’ve seen a channel breakout into an all-time high,” Bluntz said. “Usually, they happen at bottoms.”
Popcat’s Impressive Gains
Popcat is currently trading at $1.58, up a staggering 40,415% from its all-time low of $0.00379 reached in January.
Important Note:
This information is for educational purposes only and should not be considered investment advice. Always do your own research before investing in cryptocurrencies. /p>
