By Nermeen Nabil Khear 
A widely followed cryptocurrency trader is leaning bullish on a low-cap memecoin built on the Solana (SOL) blockchain.
Pseudonymous trader Bluntz tells his 288,100 followers on the social media platform X that the hippopotamus-themed memecoin Moo Deng (MOODENG) “looks appealing” as it sits around 53% below its all-time high reached in late September.
According to Bluntz, MOODENG is also exhibiting bullish divergence in the four-hour time frame. A bullish divergence occurs when the price of an asset is printing lower lows while simultaneously seeing higher lows on an oscillator indicator such as the Relative Strength Index (RSI).
MOODENG is trading at $0.161 at time of writing, up by 10.38x from the September 20th low of $0.0155.
Bluntz further says,
“MOODENG at $150 million market cap after a 50%+ pullback is cheap in my opinion.”
The trader is also bullish on Dogecoin (DOGE), the largest memecoin by market cap. Bluntz says DOGE is demonstrating strength by making new highs against Bitcoin, unlike other altcoins.
“Hands are being shown.”
Dogecoin is trading at 0.00000273 BTC ($0.203) at time of writing, up around 54% over the past 30 days.
Next up is Sui (SUI). According to the pseudonymous analyst who regularly applies Elliott Wave theory in his technical analysis, Sui is close to the all-time high of $2.35 reached on October 13th.
Based on the widely followed analyst’s chart, it appears he is suggesting that SUI could rise to over $3 in a five-wave pattern. Elliott Wave theory states that the main trend of the price of an asset moves in a five-wave pattern while a correction occurs in a three-wave pattern.
Sui is trading at $2.31 at time of writing.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Solana-Based Memecoin That’s Exploded Over 10x in Under Two Months ‘Looks Appealing,’ Says Top Crypto Trader appeared first on The Daily Hodl.
A widely followed cryptocurrency trader is leaning bullish on a low-cap memecoin built on the Solana (SOL) blockchain. Pseudonymous trader Bluntz tells his 288,100 followers on the social media platform X that the hippopotamus-themed memecoin Moo Deng (MOODENG) “looks appealing” as it sits around 53% below its all-time high reached in late September. According to
The post Solana-Based Memecoin That’s Exploded Over 10x in Under Two Months ‘Looks Appealing,’ Says Top Crypto Trader appeared first on The Daily Hodl. Altcoins, News, SOL, Solana, sui, trading
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.