A widely followed cryptocurrency analyst and trader is predicting one Ethereum (ETH) rival’s ecosystem will see massive memecoin rallies.
The analyst pseudonymously known as Kaleo tells his 624,300 followers on the social media platform X that memecoin activity on the Avalanche (AVAX) blockchain could send the project soaring.
“Bros didn’t want to listen about how explosive the PEPE pump would be until after it happened. Took months of conviction. They won’t listen this time either. For most people seeing is believing. It’s meme season and AVAX will have multiple $200M-$500M plus memecoins on it. Send it higher.”
The trader predicts that the native token of the layer-1 blockchain could go up by more than 130% from the current level, setting a price target of at least $100.
AVAX is trading for $42.25 at time of writing, down slightly in the last 24 hours.
Over the weekend, the trader was calling for Pepe (PEPE) to soar even higher as it entered “price discovery.”
“PEPE price discovery. Send it way higher.”
Crypto traders and analysts refer to price discovery as a situation where a coin trades at levels never seen before in its history.
Looking at his chart, the trader suggested PEPE would break through the resistance level of $0.00000449.
Pepe is trading for $0.000007768 at time of writing, up more than 38% in the last 24 hours.
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