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A prominent cryptocurrency analyst and trading expert provided positive insights about a high-market-cap altcoin. Known by the pseudonym “Bluntz,” the analyst stated on social media platform X that the meme coin Pepe (PEPE) could exhibit an increase of over 35% from its current value.
PEPE Coin Forecast
Bluntz noted that PEPE has formed a local bottom after completing an ABC correction wave on the hourly chart, suggesting that a new upward movement in price could occur according to Elliott Wave theory.
The analyst indicated that PEPE has the potential to rise to $0.00002800. Furthermore, he suggested that PEPE could establish a five-wave pattern to complete its upward movement.
Bitcoin’s Ascendancy
Bluntz stated that Bitcoin (BTC) 
$103,163 is in the midst of a significant wave five ascent and could reach the $180,000 level during this process. Currently, Bitcoin’s value stands at $98,957, having recently peaked at $99,588 within the last 24 hours.
“Raise your targets. There are surely many people looking for perfect Pepe before a test of all-time highs. Instead, it would be unfortunate if the turbo five waves reverse from here. I see a lot of commentary suggesting a major sell-off wave at $100,000 for BTC. This level will be easily surpassed, and PEPE will follow.” – Bluntz
As of the writing of this article, PEPE is trading at $0.00002064, marking over a 160% increase since its low of $0.00000775 on November 5. The analyst observes that PEPE is beginning to experience a breakout and could complete an upward five-wave pattern.
The technical indicators and market trends noted by Bluntz suggest positive signals for both PEPE and Bitcoin. However, it is important to remember that these predictions are not certain due to the volatility of market conditions.
While investors may consider the views of analysts like Bluntz when making investment decisions, it is crucial for them to conduct their own evaluations. The dynamic nature of the cryptocurrency market may require the implementation of various strategies.
