Trader Says Memecoin That’s Skyrocketed Over 300x in Nine Months Still Looks Strong, Updates Outlook on Bitcoin

A widely followed crypto analyst says that one meme asset that has seen a 300x surge in under a year is on the brink of sparking another major rally.

Pseudonymous crypto trader Altcoin Sherpa tells his 223,600 followers on the social media platform X that memecoin Popcat ( POPCAT ) looks incredibly bullish after taking out its last true resistance at $1.

According to the trader, he sees POPCAT surging by over 60% from current levels.

“Once a coin breaks out of the range, you want to see continuation. Of course, this is going to depend on BTC but I think that POPCAT still looks strong.

Wouldn’t be surprised to see it go to like $2 or something to be honest.”

Source: Altcoin Sherpa/X

POPCAT is trading for $1.23 at time of writing, an over 7% increase during the last 24 hours. On January 5th, the meme asset was valued at $0.00379, translating to gains of more than 324x.

Moving on to the top crypto asset by market cap, Altcoin Sherpa says he believes Bitcoin ( BTC ) will “bounce hard” soon and that it appears to be forming a local bottom.

“We’re so back. For what it’s worth, I do think BTC is going to bounce hard on one of these soon. I think a bottom is forming.”

Source: Altcoin Sherpa/X

Bitcoin is trading for $62,131 at time of writing, a fractional increase during the last day.

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