An analyst known for making crypto bottom calls thinks that memecoin Pepe (PEPE) and one Solana (SOL) challenger are gearing up for breakout rallies.

Pseudonymous analyst Bluntz tells his 273,500 followers on the social media platform X that PEPE and Sei (SEI) are among the market’s leaders after breaking out of bullish reversal patterns.

“Many altcoins with blatant in-your-face accumulation going on here, extremely hard to be bearish in my opinion.

SEI and PEPE are some standouts, in my opinion.” 

Looking at SEI, the trader appears to suggest that the Solana rival has broken out from a rounding bottom pattern. The technical formation is often viewed as a bullish reversal pattern as it indicates that investors have accumulated the asset without allowing the price to move lower.

At time of writing, SEI is trading for $0.30, down 1.44% on the day.

As for PEPE, the trader shares a chart suggesting that the meme token has broken out from an inverse head-and-shoulders pattern, another bullish reversal formation. The pattern coincides with the conclusion of an ABC corrective wave, which suggests that an asset is poised for a surge.

“PEPE coming in hot with the accumulation break.”

At time of writing, PEPE is worth $0.0000078, a 1.2% decrease in the last 24 hours.

Turning to Bitcoin, the analyst believes that BTC is close to sparking rallies amid rising liquidity injections from the Federal Reserve.

“You didn’t fade the Fed liquidity injection because of ‘mUH SePTemBeR iS TypIcaLLy BeARiSh’ did you anon? BTC.”

Traders typically see liquidity influxes as a bullish signal as it indicates that there’s more capital that could be invested in risk assets such as Bitcoin and crypto.

Bluntz previously predicted that Bitcoin will rally to a new all-time high around the $100,000 level.

“Still my base case for BTC, bears are about to get murdered in my opinion.”

At time of writing, Bitcoin is trading for $60,200, a slight dip in the last 24 hours.

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The Ethereum tokens landscape is brimming with potential, especially with assets like Shiba Inu (SHIB), Pepe (PEPE), Arbitrum (ARB), Render (RNDER), and Ondo (ONDO). These tokens could turn a $1000 investment into $10000, providing diverse opportunities for portfolio growth. Each offers unique prospects in the vibrant Ethereum ecosystem.

Ethereum Tokens

Shiba Inu Coin (SHIB)

Shiba Inu (SHIB), a cryptocurrency inspired by memes, has soared in the DeFi sector. This digital coin, hosted on the Ethereum tokens, recorded a 90% value increase over the past year. 

Currently, SHIB price trades at $0.00001375, with a modest gain of 0.39% today. Factors like heightened trading volumes, ongoing token burns, and the introduction of Shibairum contribute to its recent success. These enhancements make SHIB an appealing option for investors looking for notable returns in the meme coin market.

The green line representing SHIB’s price exhibits significant fluctuations correlating with the red bars, indicating whale transactions exceeding $100,000. 

Such data suggests that major transactions have periodically fueled a bullish trend, although the overall price movement remains downward. This activity may hint at the influence of large stakeholders on market dynamics, prompting fluctuations within specific periods.

Pepe (PEPE)

Pepe (PEPE), an Ethereum-based meme coin, aims to mirror the viral success of tokens like Shiba Inu and Dogecoin. It is emerging as a dominant figure in the meme cryptocurrency arena. As of reporting time the PEPE price is $0.000007804, marking a 5% increase in the last day. 

This rise has become the leading meme coin today on CoinMarketCap. Over the previous week, its price climbed by 13%. Over the past year, PEPE has surged by 1044%, potentially turning a $1000 investment into $10000.

Render (RNDER)

Render (RNDR), an Ethereum-based token, is reshaping digital content creation with its innovative, decentralized network. Leveraging OctaneRender technology, Render connects individuals requiring rendering services with GPU owners who have unused capacity. 

This year, RENDER price skyrocketed by 241%, hitting a peak of $5.23. This surge underscores a growing interest in AI-based cryptocurrencies and marks RENDER as a valuable player in the Ethereum landscape.

Ondo (ONDO)

Ondo (ONDO), a digital currency built on Ethereum, significantly influences the Ondo DAO’s operations. This decentralized autonomous organization strives to democratize sophisticated financial tactics for wider access. 

The spotlight on Ondo Finance intensifies as BlackRock explores the tokenization of tangible assets. Presently, ONDO trades at $0.6365, reflecting a 1% increase. Over the last year, its value has escalated by 292%, transforming a $1000 investment into $10000 with Ethereum tokens.

According to Coinglass data, the trading activity for ONDO has shown significant movement. Volume has surged by 14.39%, reaching $86.49 million. Meanwhile, Open Interest has also seen a notable increase of 2.26%, climbing to $83.14 million. These figures highlight a growing interest and active trading environment for ONDO in the financial markets.

Arbitrum (ARB)

Arbitrum (ARB), a notable Ethereum Layer 2 enhancement, leverages optimistic rollups to streamline transactions and bolster scalability. This technology hastens processing speeds and reduces costs, upholding Ethereum’s fundamental security traits. 

These features make ARB a leading choice among Ethereum-related investments. Recently, the Arbitrum token saw its market value increase by 2%, reaching a new price of $0.529.

The Moving Average Convergence Divergence (MACD) shows a minor bullish crossover as the signal line (orange) moves above the MACD line (blue), hinting at potential upward momentum. However, the MACD bars remain close to the baseline, suggesting that any upward trend might not be strong.

Furthermore, the Relative Strength Index (RSI) is at 54, signifying a neutral market without strong buying or selling pressure. 

These Ethereum tokens bolster the vibrant cryptocurrency market and offer promising avenues for substantial financial growth. Investors keen on multiplying their initial stake have a golden opportunity to thrive within this dynamic digital landscape.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.