Look Out For A 'Rage Pump,' Analyst Says: Pepe's Risk-Reward Ratio Remains Favorable
Portfolio Pulse from Murtuza Merchant
Analyst Bluntz predicts a 'rage pump' for altcoins, particularly Pepe Coin (PEPE) with a potential 30% increase, and Solana (SOL) after FTX's sell-offs. BlackRock's Ethereum ETF plan and a shopping spree in Ethereum-based altcoins indicate growing digital asset optimism. These topics will be discussed at Benzinga's Future of Digital Assets conference.
November 10, 2023 | 5:41 pm
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POSITIVE IMPACT
Pepe Coin (PEPE) is highlighted by analyst Bluntz as likely to experience a 30% price surge, indicating a strong bullish momentum.
Bluntz's technical analysis suggests a classic bullish pattern for PEPE, with a 'clean 5 wave rise' indicating potential for a significant price increase.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Despite FTX's daily sell-offs of SOL tokens, Solana's price has been stable or rising, with a significant price pump expected once FTX's unlocked tokens are depleted.
The market's strong absorption of FTX's daily SOL sell-offs without a price drop suggests robust demand and a bullish outlook for Solana.
CONFIDENCE 65
IMPORTANCE 75
RELEVANCE 80