dailyhodl.com
A closely followed crypto strategist believes that one memecoin’s latest rally indicates a Dogecoin ($DOGE) rival is about to soar.
Pseudonymous analyst Inmortal tells his 206,500 followers on the social media platform X that dog-themed crypto asset Floki ($FLOKI) is showing a similar pattern as $DOGE rival Pepe ($PEPE) before its recent rally.
“$FLOKI will follow $PEPE. You know, contagion.”
The trader’s chart suggests that $PEPE could soon break through its December high of around $0.00000175. The chart also shows that $FLOKI is on track to print a similar price pattern and rally past its December high to around $0.0000490
$FLOKI is trading for $0.0000512 at time of writing, up more than 18% in the last 24 hours, while $PEPE is trading for $0.00000264, up more than 46% in the last 24 hours.
The trader is also predicting a massive rally for Ethereum ($ETH) against Bitcoin ($BTC) based on a historical price pattern.
“I don’t know how many times I’ve posted this chart, but I’m posting it again.”
Looking at his chart, the trader suggests that $ETH/$BTC is forming a similar pattern in 2020 when the pair traded at the lower bound of a lengthy trading range before rallying to the upper bound. The current upper bound trading range is around 0.083 $BTC ($4,736).
$ETH/$BTC is trading for 0.05689 $BTC ($3,243) at time of writing, down more than 2% in the last 24 hours.
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