Crypto Analyst Promotes Meme Coin While Remaining Bullish On BTC
A well-known crypto analyst has exciting news for investors, as he believes a specific meme asset that has skyrocketed 300x in under a year is poised to kick off another substantial rally. As is the case with all cryptocurrencies though, particularly, meme coins, it is imperative to conduct your own research beforehand.
Vast Potential
Altcoin Sherpa, a pseudonymous trader with a following of 223,600 on the platform X, recently shared his bullish outlook on the memecoin Popcat ($POPCAT). He highlights that the asset has successfully broken through its last major resistance level at $1, setting the stage for potentially explosive growth.
Sherpa believes that $POPCAT could surge by over 60% compared to its current price. When a coin breaks out of a trading range, you want to see that momentum continue, he explains. Of course, the overall movement will depend on Bitcoin, but I am optimistic about $POPCAT. Honestly, I would not be surprised to see it hit around $2, he added.
Bounce Back Seemingly Inevitable
As of now, $POPCAT is trading at $1.23, reflecting a notable increase of over 7% in just the past 24 hours. To put this into perspective, back on January 5th, this meme coin was valued at a mere $0.00379, leading to astonishing gains of more than 324x.
Turning our attention to the leading cryptocurrency by market capitalization, Sherpa is equally optimistic about Bitcoin (BTC). He anticipates that BTC will bounce hard in the near future, suggesting it is in the process of forming a local bottom. For what it is worth, I genuinely believe BTC is set to make a strong rebound soon. A bottom seems to be taking shape, he asserts.
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