An analyst who earned the “Master Trader” rank on the crypto exchange Bybit believes that one frog-themed memecoin will leave most digital assets in the dust.

Pseudonymous trader Bluntz tells his 276,300 followers on the social media platform X that he sees Pepe (PEPE) pulling off an over 2x rally en route to a fresh all-time high.

The trader shares a chart suggesting that PEPE could surge to as high as $0.22.

“I like to chart all my meme positions against each other to gauge what looks the strongest and then designate whichever that one is as my largest bag.

Healthy to have some diversification of course, but I always try to have my largest position in the fastest horse.

The fastest horse (of my bags) seems to be PEPE.” 

At time of writing, PEPE is trading for $0.000112, up over 5% on the day.

Another altcoin on the trader’s radar is Sui (SUI), a layer-1 crypto project referred to by many as the Solana (SOL) killer.

According to Bluntz, SUI appears to be in the midst of a wave three surge and he sees the altcoin bursting close to $2.60 before its five-wave rally concludes.

“SUI is just a certified beast at this point, every dip on four-hour ends up ABC looking and keeps trucking higher, even this one.

Definitely in a macro wave three still and hasn’t even had a wave four yet.” 

Bluntz relies on Elliott Wave theory, which states that a bullish asset tends to witness a five-wave surge with waves one, three and five serving as impulsive upside bursts and waves two and four as corrective periods. It also suggests that a bullish asset often rallies after an ABC correction.

Based on the trader’s chart, he seems to suggest that SUI will surge above $2 for its third wave before correcting and rallying to new all-time highs.

At time of writing, SUI is worth $1.71.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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With the tacit blessing of Tether, as well as an alleged agreement to provide “legal cover” for the coup, Swan claims, in mid-July Zagary began to “sow dissent and chaos at Swan, undermine Klippsten, and influence Swan’s consultants and employees to leave Swan”. The $25 million funding commitment from Tether, it became apparent, would no longer be coming.

Russia and China’s desire to ditch the dollar is fueling the price of gold, according to the Bank of France.

In a new report, the central bank notes the price of the precious metal has risen to new all-time highs despite global outflows in gold exchange-traded funds (ETFs) and risk aversion on the financial markets amid the Fed’s tight monetary policy over the last two years.

Citing data from the World Gold Council (WGC), the bank says demand for gold has been led by Russia and China, citing “diversification away from dollar-denominated assets, either for macroeconomic or geopolitical reasons (‘dedollarisation’)” as a bullish factor boosting the price.

“Although the dollar remains the dominant currency, its share in central bank reserves has fallen to 59%, a 25-year low (IMF).

Overall, demand for gold from central banks has doubled over the last two years (from 30 March 2021 to 30 March 2023) compared with previous years, which has had a major impact on the price. 

The bank adds that Chinese and Indian retail investors are also pushing the value of gold to fresh record highs.

“Moreover, since 2024, Chinese and Indian households have significantly increased their investment in gold excluding jewelry (by an additional 68% and 19%, respectively, between Q1 2023 and Q1 2024, according to WGC data), apparently to diversify their investments in the face of sharply declining property and equity markets in China and increased savings capacity in India.” 

Gold has jumped from its 2022 low of $1,614 per ounce to an all-time high of $2,685 this month – an increase of 66%. At time of writing, gold is trading at $2,658.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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