A widely followed crypto analyst says a meme asset that has soared 300x in less than a year is about to spark another massive stock rally.
Pseudonymous crypto trader Altcoin Sherpa told his 223,600 followers on social media platform He said he was incredibly bullish.
The trader expects POPCAT to surge more than 60% from current levels.
“When a coin breaks out of the range, you want to see a continuation. Of course it depends on BTC, but I still think POPCAT looks strong.
To be honest, I wouldn't be surprised if it went up to $2 or so. ”
POPCAT is trading at $1.23 at the time of writing, up more than 7% in the past 24 hours. On January 5th, the meme asset was valued at $0.00379, which equates to more than 324x return.
Moving on to the top crypto assets by market cap, Altcoin Sherpa said he believes Bitcoin (BTC) will soon make a “big rebound” and appears to be forming a local bottom.
“It has come back quite a bit. For what it’s worth, I think BTC is going to make a big rebound on one of these in the near future. I think a bottom is forming.”
At the time of writing, Bitcoin was trading at $62,131, with only modest gains from the previous day.
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