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An analyst who has earned the Master Trader rank on the crypto exchange Bybit believes memecoins are starting to flip bullish. Pseudonymous analyst Bluntz tells his 328,100 followers on X that the meme token Pudgy Penguins (PENGU) is flashing a bullish reversal signal on the eight-hour chart. “When this PENGU wedge inevitably breaks, I think it will full send. In fact, all memes are low-key starting to look really good again.” Source: Bluntz/X At time of writing, PENGU is trading at $0.323, up over 12% on the day. Another memecoin on the trader’s radar is Useless Coin (USELESS). Bluntz says USELESS appears to have completed an ABC correction on the daily chart, suggesting new rallies are in sight. The trader practices the Elliott Wave theory, which states that a bullish asset tends to launch a five-wave surge after concluding an ABC corrective wave. “Got a lot of hate for saying this, but this was in fact the top before a 63% pullback. ...

A crypto strategist and trader is laying out his predictions for the digital asset market for the first few months of the year, including his Q1 outlook for Ethereum (ETH). The analyst pseudonymously known as Inmortal tells his 222,400 followers on the social media platform X that he thinks Ethereum is gearing up for rallies this quarter. The trader believes that ETH is about to follow in the footsteps of its Q1 2024 price action. “ETH about to have a good Q1.”‘ Source: Inmortal/X Looking at the trader’s chart, he seems to predict that ETH will hit a new all-time high of $5,300 by March. At time of writing, ETH is worth $3,646. He also thinks old altcoins and artificial intelligence (AI)-focused projects will ignite rallies in the next three months. “In Q1: 1. ETH outperforms. 2. SOL go +$300 3. AI coins mega-pump 4. Memes underperform 5. Dino coins have a good run.” While the analyst believes memecoins will not see hu...

New data from market intelligence firm Santiment hints at a potential correction for popular dog-themed memecoins Dogecoin (DOGE) and Shiba Inu (SHIB). In a new thread on the social media platform X, the crypto analytics platform says that the pair of memecoins have the highest discussion rates they’ve had in five months, signaling that investors may soon shift capital toward other crypto projects. According to Santiment, traders are flocking into DOGE and SHIB due to the fear of missing out (FOMO), which may lead the altcoins to print local tops. “With the crowd anticipating Bitcoin’s $70,000 breach soon, traders are doubling down on high-leverage speculative meme coins, where their discussion rates are at their highest level in five months. Meanwhile, layer-2s like Arbitrum and Optimism are being ignored. Speculative coins can certainly still pump a bit longer, but historical data shows that it pays to go where the crowd isn’t looking....

Seychelles-based crypto exchange OKX has announced support for three memecoins, including a newly launched altcoin related to Dogecoin (DOGE). In an announcement, OKX says it is rolling out perpetual futures support for meme tokens BasedBrett (BRETT), Simon’s Cat (CAT) and Neiro on ETH (NEIROETH). BRETT is the largest memecoin on Base, the blockchain launched by Coinbase, the biggest crypto exchange in the US. BRETT has a market cap of $683 million and is down over 40% since the start of August. Simon’s Cat was originally launched on the BNB Smart Chain (BSC) and was airdropped last month to holders of Floki (FLOKI), a Dogecoin competitor. CAT has a market cap of $187 million and is up 152% since printing an all-time low of $0.00001099 a few days after launching. Meanwhile, the Neiro project dubs the altcoin “the official sister of DOGE” that has arrived on Ethereum (ETH) to “make history.” NEIROETH currently has a market cap ...