Experienced cryptocurrency analyst and trader Bluntz said that he believes that Simon’s Cat (CAT), a memecoin that has attracted attention with its recent performance, has more potential. The analyst also shared his latest thoughts on Layer-1 altcoin Sui (SUI).
Simon’s Cat Coin Analysis
The analyst, who goes by the pseudonym Bluntz, told his followers on social media platform “One of the most successful memecoin launches in my opinion. “Unlike most, it continued to rise from day one, without experiencing any major decline.” he said.
Applying the Elliott Wave theory, the analyst stated that CAT completed a three-wave correction in the four-hour time frame and had an accumulation period of several days. According to this theory, the main price trend of an asset moves in a five-wave pattern, while the correction occurs in three waves.
Sui Altcoin Gaining Strength
On the other hand, the analyst stated that Sui, Solana’s (SOL) rival, is showing resistance and gaining strength. Bluntz, who said a prediction he made last month had been confirmed, described Sui as “absolutely strong.” “Sui was the first coin to recover from yesterday’s downward move.” he added.
Currently, Sui is trading at $1.88 at press time, having risen nearly 140 percent in the last 30 days.
Current Status of Simon’s Cat and Sui
Simon’s Cat is currently trading at $0.0000285, it could rise above $0.0000462 according to the charts shared by the analyst. Sui, on the other hand, continues its strong performance and is considered to have further upside potential in the near future. Both altcoins continue to attract the attention of investors.
While both coins are witnessing important developments in the cryptocurrency market, they are closely followed by investors and analysts. Simon’s Cat’s steady rise and Sui’s strong performance give positive signs about the future of these cryptocurrencies.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
