Look Out For A 'Rage Pump,' Analyst Says: Pepe's Risk-Reward Ratio Remains Favorable

Zinger Key Points
  • Analyst Bluntz predicts a 30% surge in $PEPE, indicating a strong bullish trend with a "clean 5 wave rise."
  • Despite FTX selling large quantities of $SOL, market absorption remains strong, signaling robust demand for Solana.

Crypto observers expect a significant uptrend in altcoins, particularly focusing on a "rage pump" for certain digital assets.

The term "rage pump" used by pseudonymous analyst Bluntz refers to a rapid and significant increase in the price of a cryptocurrency.

This development ties into the broader discussions anticipated at Benzinga's Future of Digital Assets conference on Nov. 14, where market dynamics and digital currency trends will be key topics.

Also Read: BlackRock's Ethereum ETF Plan Boosts Ether Prices, Signals Growing Digital Asset Optimism

PepeCoin: Bluntz highlights Pepe Coin PEPE/USD as a prime candidate for a major price surge.

According to his analysis, PEPE is showing signs of a potential 30% increase in value. He suggests that the coin is gearing up for a "clean 5 wave rise," with the third wave being the longest, a classic pattern in technical analysis that often indicates a strong bullish momentum.

Expect a 25-30% upside for Pepe, Bluntz says. The risk-reward ratio remains favorable for this altcoin.

This bullish sentiment is part of a larger trend observed among various altcoins, signaling a potentially lucrative phase for savvy investors.

Also Read: Crypto Whales Go On A Shopping Spree As Ethereum-Based Altcoin Spikes Over 1,000%

Solana: Crypto exchange FTX has been selling between 250,000 to 700,000 Solana SOL/USD tokens every day for the past two weeks.

Despite this sell-off, the price of Solana has remained stable or even shown an upward trend, indicating strong market absorption.

Bluntz predicts that once FTX's unlocked tokens are depleted, which could happen within a week, Solana might experience a significant price pump.

This analysis of Solana's resilience in the face of consistent sell-offs underscores the robust demand and bullish sentiment in the altcoin market.

Bluntz’s insights provide a glimpse into the complex dynamics at play in the cryptocurrency market, a topic likely to be further explored at the upcoming Benzinga's Future of Digital Assets conference on Nov. 14.

Read Next: JPMorgan Casts A Shadow On Bitcoin Rally, Questions Sustainability Post-ETF Hype

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