A widely followed crypto trader has warned that a certain low-cost meme coin built on the Solana (SOL) blockchain could witness a sudden bearish reversal.
Pseudonym Trader Blunts say 286,900 followers on social media platform It is said that.
Mr. Brandts practices Elliott Wave Theory. The idea is that bullish assets tend to rise after completing an ABC decline. According to analysts, MOODENG has risen too fast and needs a major correction before it can take another leg up.
“Maybe it's wishful thinking, but I'd like to see Mu Deng regressed and added to the white box here. It's starting to get a little too parabolic for my tastes.”
Mu Deng hit a high of $0.335 on November 8th, an increase of over 2000% from $0.0154 on September 20th.
Next is the analyst I believe Memecoin Pepe (PEPE) is likely to outperform Solana-based memecoin Dogwifat (PEPE/WIF) after ABC correction on daily time frame.
“I’m a big fan of WIF, but PEPE/WIF gives me the feel of a dominant performance. I always try to ride the fastest horses and PEPE is currently quite competitive against multiple cross pairs. It looks fast.”
At the time of writing, PEPE is worth $0.0000105.
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