A popular cryptocurrency analyst and trader, known as Bluntz, is expressing optimism about a low-cap memecoin called Simon’s Cat (CAT) within the Binance Smart Chain ecosystem. With a following of 274,800 on X, Bluntz predicts a significant breakout for CAT in the near future.
Bluntz points out that CAT has been steadily accumulating and is on the verge of a breakout, stating, “Cat season alive and well, CAT just keeps vertically accumulating then breaking out, constant grind up from launch. I think a face-ripping breakout is near.” This bullish sentiment is supported by a chart showing CAT potentially breaking out of an ascending channel in the four-hour time frame.
As of the time of writing, CAT is trading at $0.00004263, marking a 291% increase from its low point in August. This memecoin, inspired by the popular British animated series Simon’s Cat, was launched just last month and currently holds a market cap of over $292 million.
In addition to CAT, Bluntz also shares insights on the NEAR protocol, a layer-1 blockchain. According to him, NEAR’s price is showing signs of an upward trend, possibly fueled by the excitement surrounding artificial intelligence (AI) technology. NEAR had previously announced plans to enable users to develop their own AI applications on the platform.
Bluntz comments on NEAR, saying, “Liking NEAR again here too, starting to poke its head out of six-month downtrend. I’m sure the AI narrative will rear its head again at some point.” A chart provided by the trader suggests that NEAR is attempting to break through its diagonal resistance.
At the time of writing, NEAR is priced at $4.36. Investors and enthusiasts are encouraged to stay informed by subscribing to email alerts and following updates on price action. The Daily Hodl provides a platform for staying up-to-date on the latest developments in the cryptocurrency space.
As the market continues to evolve, opportunities for growth and innovation abound. By staying informed and following expert analysis like that provided by Bluntz, investors can make informed decisions and potentially capitalize on emerging trends in the cryptocurrency sector.