Trader Says Memecoin That’s Exploded Over 2,400% in Weeks About To Go Higher, Updates Outlook on Near Protocol

A widely followed cryptocurrency analyst and trader is expressing bullish sentiment on a memecoin that has gone up more than twenty-fold since early March.

The trader pseudonymous known as Crypto Dog tells his 775,500 followers on the social media platform X that the memecoin Jeo Boden (BODEN) is on the cusp of breaking out after a period of consolidation.

Based on the Crypto Dog’s chart, it appears that BODEN is testing a downward-sloping resistance level on the daily chart.

BODEN is trading at $0.639 at time of writing, up by around 2,466% from the all-time of $0.0249 reached on March 9th.

According to the pseudonymous analyst, a variety of memecoins including dogwifhat (WIF) are sending bullish signals.

“Not just WIF though, a good handful of mid/high cap memecoins are aiming for new highs.”

Turning to NEAR Protocol (NEAR), the pseudonymous analyst says he’s bullish on the Ethereum competitor based on the artificial intelligence (AI) narrative, among other things. The layer-1 blockchain’s Co-Founder Illia Polosukhin last year said that AI would be “one of the core verticals for the NEAR ecosystem heading into 2024”.

“…still think NEAR will lead over the next weeks, months.

Structurally it looks great, erased recent dip outperforming Bitcoin and even Solana.”

NEAR Protocol is trading at $6.81 at time of writing, up by around 17% over the past seven days.

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