Analyst Sees Potential in Memecoin Simon’s Cat, Reviews Sui

A popular cryptocurrency trader and analyst is pointing out a particular memecoin that he thinks has significant upside potential, while also sharing his thoughts on the layer-1 altcoin Sui (SUI).

The analyst, who goes by the name Bluntz tells his 278,500 followers on X that the cat-themed memecoin, Simon’s Cat (CAT), “appears to be set for its next upward move.”

Using the Elliott Wave theory for his technical analysis, Bluntz suggests that CAT has finished a three-wave downward correction on the four-hour chart and has entered a phase of “accumulation” that has lasted a few days. According to the Elliott Wave theory, the primary trend of asset prices typically moves in a five-wave formation, while corrections happen in a three-wave cycle. From the chart provided by the pseudonymous analyst, it seems he believes that CAT could surpass its all-time high of approximately $0.0000462.

“This is, in my view, one of the most successful launches of a memecoin. It has not experienced any significant dips and has been on an upward trajectory since the beginning.”

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

Next on the agenda is Sui, a competitor to Solana (SOL). The pseudonymous analyst notes that Sui shows strength through its resilience.

Reinforcing predictions he made last month, Bluntz stated that Sui would “surprise a few people” in the following weeks and months, and he describes Sui as an “absolute beast.”

“Sui was the first to recover from yesterday’s downturn.”

Sui is currently trading at $1.88, which marks a nearly 140% increase over the last 30 days.

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