Trader Says Memecoin That’s Up Over 27,000% in Under One Year Showing Massive Strength, Updates Outlook on SYN
A carefully adopted crypto strategist believes that one red-hot memecoin might have extra upside potential.
Pseudonymous analyst Altcoin Sherpa tells his 217,600 followers on the social media platform X that PepeCoin (PEPECOIN) may retrace to a key degree earlier than resuming an uptrend.
“Strong PepeCoin is doing well right now, showing a lot of strength. To be determined if this is going to continue momentum, but watch out for the 200-day EMA (exponential moving average) around here. $2.30ish would be a decent entry in the short term. I have a bag.”
PepeCoin is buying and selling for $2.97 at time of writing, a achieve of greater than 27,000% since October thirteenth, 2023 when it was value $0.01088.
Subsequent up, the analyst compares the worth chart of Synapse (SYN), a protocol that goals to allow safe cross-chain communication, to the worth chart of the sensible contract platform Sui Community (SUI).
He suggests SYN could also be forming an analogous SUI sample and will quickly break larger as a number of exponential shifting averages (EMAs) are heading larger on the four-hour chart.
“For this reason I like SYN. That is the SUI chart (replay) earlier than versus SYN now. One of the issues I see although is that SUI has a legit bid and considerably narrative; SYN is a shitty bridge the place there are a number of higher cash for that. Chart alone, I like SYN, however this would possibly take a bit…
I feel the opposite bridges are in all probability higher trades. However this can be a good chart so let’s see.”
SUI is buying and selling for $1.01 at time of writing, up greater than 19% in the final 24 hours. In the meantime, SYN Is buying and selling for $0.61 at time of writing, up 8.6% on the day.
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