Simon’s Cat (CAT), a low-cap meme token in the Binance Smart Chain ecosystem, has caught the attention of Bluntz, a crypto analyst and trader with a large following.
Expectations of a Big Breakout in CAT Token
Addressing his 274,800 followers on social media platform X, Bluntz stated that the CAT token is preparing for a major exit. The analyst emphasized that the token has been in a continuous uptrend since its launch and has made exits after vertical accumulation.
Bluntz said:
“CAT season is alive and well, CAT continues to accumulate vertically and then breakout, there has been a continuous upward trend since launch. I think a promising breakout is imminent.”
According to the chart shared by the analyst, the CAT token appears to be preparing to break out of an ascending channel on the four-hour time frame.
The CAT token is trading at $0.00004263 at the time of writing, up approximately 291% from its low of $0.0000109 on August 22. Based on the popular British animated web and book series Simon’s Cat, this new meme token was launched last month and currently has a market cap of $292 million.
Signs of a Bullish Trend in NEAR Protocol
Bluntz also shared his views on the first-layer blockchain NEAR Protocol (NEAR). According to the analyst, the price of NEAR is starting to rise and the interest around AI technology could support this rise.
NEAR announced in May that it was building tools that would allow users to develop their own AI applications on the protocol.
Bluntz said the following on the matter:
“I like NEAR again here, it’s starting to break out of its six-month downtrend. I’m sure the AI narrative will come back into play at some point.”
In the chart shared by the analyst, NEAR is seen trying to break out of its diagonal resistance. At the time of writing, NEAR is trading at $4.36.
Both cryptocurrencies are showing potential bullish signals in line with analysts’ expectations. In particular, the rapid rise of the CAT token and NEAR’s initiatives in the field of artificial intelligence may attract investors’ attention. However, due to the volatile nature of cryptocurrency markets, it is important for investors to do their own research and be careful.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
