A prominent crypto strategist has turned the spotlight on SPX6900 (SPX), a memecoin built on Solana, suggesting it may be on the verge of a massive rally.
The analyst, known as Bluntz on social media, points to SPX’s recent chart patterns as a setup for explosive gains.
Citing Elliott Wave theory, he suggests that the token hasn’t yet entered its third wave — typically the most aggressive part of a five-wave move in bullish cycles.
Bluntz described SPX’s current formation as a series of consolidations since March, potentially laying the groundwork for a steep parabolic run.
He predicts the token could double in price, targeting $2.20 from its current level around $1.10.
The forecast underscores the continued appetite for Solana-based memecoins amid broader market interest in speculative altcoin plays.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/market/solana-based-memecoin-poised-for-breakout-says-crypto-analyst/