‘Simple Multiples’ – Trader Anticipates Surges for Layer-1 Altcoin, Expects Memecoin to Experience Major Breakout
A cryptocurrency strategist, known for his accurate altcoin predictions, believes that the native asset of a layer-1 project is about to enter an uptrend. Top trader Bluntz recently shared with his 275,200 followers on X, a social media platform, that Saga (SAGA) seems ready to initiate significant rallies after breaking out from an inverse head-and-shoulders pattern (IHS).
The IHS pattern is typically seen as a bullish reversal signal, indicating that investors are not willing to wait for the price to drop before accumulating the asset. Bluntz stated, “I still believe that SAGA has one of the most promising structures among mid-cap coins in the $200 million range. Being a relatively new coin without an initial surge, it possesses great potential. Massive breakout from the IHS bottom pattern is accompanied by significant trading volume. In my opinion, easy multiples are on the horizon.”
As of now, SAGA is valued at $2.46, with a market capitalization exceeding $251 million.
Bluntz also expressed his optimism about Simon’s Cat (CAT), a memecoin based on the Binance Smart Chain. The esteemed trader predicts that CAT will reign as the top memecoin of the current bull cycle, surging to a market cap of $1 billion.
“Many believe that POPCAT will be the winning cat coin this cycle, but I disagree. I believe CAT will surpass it. Simon’s Cat enjoys widespread recognition among the general public, and the chart indicates a forthcoming major channel breakout. Based on my analysis, CAT reaching a billion is already coded.”
Currently, CAT is traded at $0.000042, with a market cap of $285 million.
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