A popular cryptocurrency analyst and trader is feeling optimistic about a low-cap memecoin inspired by felines in the Binance Smart Chain ecosystem.
Known as Bluntz, the trader shared with his 274,800 followers on X that he believes a significant breakout for the Simon’s Cat (CAT) memecoin is on the horizon.
“Cat season is here, and CAT continues to steadily accumulate before breaking out. I anticipate a major breakout soon.”
Bluntz’s analysis suggests that the CAT memecoin is in the process of breaking out from an ascending channel in the four-hour time frame.
As of now, CAT is priced at $0.00004263, marking a 291% increase from its low of $0.0000109 on August 22nd. CAT is based on the popular Simon’s Cat animated series and currently has a market cap of over $292 million since its launch last month.
Additionally, Bluntz also shares insights on the NEAR blockchain, indicating that its price is showing signs of an upward trend, potentially driven by the excitement surrounding artificial intelligence (AI) technology.
In a recent announcement, NEAR unveiled plans to develop tools that would allow users to create their own AI applications on the platform.
Bluntz comments,
“I’m liking NEAR again, as it seems to be breaking out of a six-month downtrend. The AI narrative could play a significant role in its future growth.”
According to Bluntz’s analysis, NEAR is attempting to break through its diagonal resistance and is currently trading at $4.36.
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Image Credit: Midjourney