A prominent crypto analyst believes that a specific Layer-1 platform is following a path akin to Solana’s (SOL) impressive run during 2021.
Analysis from Kaleo, who is followed by over 698,600 on social media, shows that the price movements of SUI (SUI) seem quite reminiscent of Solana’s market structure from late 2020 to early 2021.
In 2021, Solana experienced rapid growth, bouncing back within just three months after surmounting a key resistance level at $55.
Kaleo mentioned, “SUI looks poised for a surge similar to what Sol experienced in the fall of 2021.”
He noted, “SUI has emerged as a fresh Layer-1 market leader this cycle, and as structural similarities continue, it’s going to be interesting.”
According to Kaleo’s charts, SUI has recently reached an all-time high.
Currently, SUI is trading at $4.04.
Kaleo is optimistic about Dogecoin as well, with charts suggesting that it may be repeating its market behavior from 2018-2021.
“It’s about time we pay attention to the king of memes again,” he stated.
Kaleo projects that Doge could soar to $3 before 2025. As of now, Doge trades at $0.239.
Regarding Bitcoin, traders are observing BTC approaching $200,000 following a brief pullback.
“Only from here,” he remarked.
At present, Bitcoin’s value stands at $103,868.
