One of the most popular crypto-strategists believes that a memecoin with a high price may actually have broader upside potential.
Altcoin Sherpa, a pseudonymous analyst on social media platform X tells 217.600 of his followers that PepeCoin could retrace a certain level before resuming a trend upward.
Strong PepeCoin has been doing very well, and is showing great strength. It is still unclear if the momentum will continue, but keep an eye on the 200-day EMA. In the short-term, $2.30ish is a good entry price. I’ve got a bag .”
PepeCoin was trading at $2.97 as of the time of this writing. This is a 27,000% increase since October 13, 2023, when it had a value of $0.01088.
The analyst then compares the chart price of Synapse, a protocol designed to allow secure communication across chains, with the chart price of Sui Network, a platform for smart contracts.
He says SYN could be forming a pattern similar to SUI and that it may soon rise as several moving averages exponential (EMAs), which are headed higher, appear on the 4-hour chart.
This is the reason I love SYN. Here is the SUI (replay), before and now. SUI is the better bridge, as it has a legitimate bid. SYN on the other hand is just a bad bridge. SYN is a good coin based on the chart alone. However, this may take some time.
But this is a nice chart so let’s see.” This is an interesting chart, so lets see .”
SUI was trading at $1.01 as of the time this article is written, an increase of more than 19% over the past 24 hours. SYN is trading at $0.61, an increase of 8.6% for the day.
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Sources of Images include Pixabay Creative Commons & Midjourney
This post Memecoin Up 27,000% In Under One Year, Shows Massive Strength Updates Outlook On SYN first appeared on The ICD.
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