An extensively watched cryptocurrency analyst and trader is expressing optimism about a cat-themed low-cap memecoin in the Binance Smart Chain network.
The trader, who goes by the pseudonym Bluntz, informs his 274,800 followers on the social media platform X that a significant breakout for the Simon’s Cat (CAT) memecoin is imminent.
“The cat season is alive and well; CAT continues to build vertically and then breakout, consistently moving upward since its launch. I anticipate a major breakout is approaching.”
According to Bluntz’s chart analysis, it appears he believes the CAT memecoin is on the verge of breaking out from an ascending channel on the four-hour time frame.
CAT is currently trading at $0.00004263 as of this writing, marking an increase of about 291% from an August 22nd low of $0.0000109. The CAT token is inspired by the popular British animated web and book series Simon’s Cat. Launched just last month, it now has a market cap of slightly over $292 million.
The well-known analyst also shares his insights on the layer-1 blockchain NEAR (NEAR). He notes that NEAR’s price is beginning to rally, potentially fueled by the excitement surrounding artificial intelligence (AI) technologies.
This past May, NEAR revealed plans to develop tools allowing users to create their own AI applications on its protocol.
Bluntz remarks,
“I’m also liking NEAR again here; it seems to be emerging from a six-month downtrend.”
“I’m certain the AI narrative will make a comeback soon.”
From the trader’s chart, it appears he believes NEAR is attempting to break through its diagonal resistance.
At the time of this writing, NEAR is trading at $4.36.
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