dailyhodl.com
A widely followed crypto strategist thinks that one layer-1 platform is closely following in the footsteps of Solana’s ($SOL) 2021 bull market rampage.
Pseudonymous analyst Kaleo tells his 698,600 followers on the social media platform X Sui’s ($SUI) price action over the last two years looks very similar to $SOL’s 2020-2021 market structure.
In 2021, Solana exploded and rallied by about 300% in just three months after shattering its resistance at $55.
Says Kaleo,
“$SUI looks primed for a move similar to the one $SOL made in the Fall of 2021.
$SUI has been the emerging layer-1 market leader this cycle, similar to what $SOL was then.
If current structural similarities continue to play out, things are about to get fun.”
Looking at the trader’s chart, he seems to suggest that $SUI is close to skyrocketing and printing new all-time highs.
At time of writing, $SUI is trading for $4.04.
Kaleo is also bullish on the leading memecoin Dogecoin ($DOGE). The analyst shares a chart suggesting that Dogecoin may be repeating its 2018-2021 market structure.
“It’s finally time to pay attention again to the king of memes.”
Based on the chart, Kaleo believes that $DOGE will soar to $3 before 2025 expires. At time of writing, $DOGE is worth $0.239.
As for Bitcoin, the trader sees BTC running close to $200,000 with short and shallow pullbacks.
“Up only from here fellas.”
At time of writing, Bitcoin is worth $103,868.
Generated Image: Midjourney