Cryptocurrency Analyst Bluntz Highlights Memecoin Simon's Cat (CAT) as It Completes Three-Wave Correction

A widely followed cryptocurrency analyst and trader is highlighting one memecoin that he believes possesses more upside potential while offering his insights on layer-1 altcoin Sui (SUI).

Cryptocurrency analyst and trader Bluntz has highlighted one memecoin that he believes has more upside potential, while also offering his insights on layer-1 altcoin Sui (SUI).

In a recent post on social media platform X, where he has over 278,000 followers, Bluntz shared his analysis on memecoin Simon’s Cat (CAT). According to the analyst, who frequently incorporates the Elliott Wave theory into his technical analysis, CAT “looks finally ready for the next leg higher.”

Examining a four-hour price chart of CAT, Bluntz observed that the memecoin has completed a three-wave correction to the downside and has seen “a few days of accumulation.”

In Elliott Wave terms, the main trend of an asset’s price is said to unfold in a five-wave pattern, while a correction takes place in a three-wave pattern. Based on the pseudonymous analyst’s chart, it appears that he is suggesting that CAT could rally to new all-time highs, surpassing the previous peak of around $0.0000462.

“One of the most successful memecoin launches in my opinion,” Bluntz noted. “Unlike most, it never really had any kind of large dip, from day one it has been uptrending.”

At the time of writing, Simon’s Cat is trading at $0.0000285.

Another asset on the pseudonymous analyst’s radar is Solana (SOL)-competitor Sui, which Bluntz highlighted for its strength and resilience.

Having previously predicted last month that Sui would “surprise a few people” over the next weeks and months, Bluntz doubled down on his forecast, describing Sui as an “absolute beast.”

“Sui is basically the first to recover yesterday’s down move,” the analyst noted.

The price of SUI is currently trading at $1.88 at the time of writing, having surged by almost 140% over the past 30 days.