The crypto strategist who nailed the Bitcoin (BTC) native prime in January believes that the memecoin Pudgy Penguins (PENGU) is gearing up for an additional upside burst.
The pseudonymous analyst Bluntz tells his 326,600 followers on the social media platform X that PENGU seems to be poised for a wave-five surge.
The dealer depends on Elliott Wave principle, which states {that a} bullish asset tends to witness a five-wave rally, with waves one, three and 5 serving as upside strikes and waves two and 4 performing as corrective intervals.
Says Bluntz,
“This seems to be just like the PENGU wave 4, in my view. In case you missed the final run up and have been patiently ready for the pullback, it is a good one to bid. Good 33% dip after an enormous run-up is completely regular.”
Trying on the dealer’s chart, he appears to foretell that PENGU will soar above $0.05 earlier than ending its five-wave rally. At time of writing, PENGU is value $0.0357, up over 7% previously day.
One other meme token on the dealer’s radar is Bonk (BONK). Bluntz says the altcoin is flashing a bullish divergence on the four-hour chart, indicating that purchasing momentum is on the up and up for the altcoin regardless that its worth goes down.
Merchants maintain a watch out for cash displaying a bullish divergence, because it alerts {that a} reversal to the upside is on the horizon.
“Probably going to be a cracking four-hour bullish divergence on BONK, in all probability a great place to bid right here.”
At time of writing, BONK is value $0.000026, up practically 5% on the day.
The final memecoin on the dealer’s radar is Ineffective Coin (USELESS), which the dealer says will possible enter a corrective part after finishing a five-wave rally.
“That’s 5 up on USELESS from inception [up to] now. Will probably be bidding this once more sooner or later after the correction to the inevitable billions in market cap, however as in all issues, timing is all the things.”
At time of writing, USELESS is value 0.246.
Comply with us on X, Fb and Telegram
Do not Miss a Beat – Subscribe to get e mail alerts delivered on to your inbox
Test Worth Motion
Surf The Every day Hodl Combine
 
Disclaimer: Opinions expressed at The Every day Hodl will not be funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your individual threat, and any losses you might incur are your accountability. The Every day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Every day Hodl an funding advisor. Please observe that The Every day Hodl participates in online marketing.
Generated Picture: DALLE3
