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- Analyst Inmortal is bullish on Mythos (MYTH), highlighting its strong fundamentals and undervaluation.
- Inmortal also predicts significant growth for memecoin Floki (FLOKI), expecting it to reach a new all-time high.
Pseudonymous analyst Inmortal has identified Mythos (MYTH) as an undervalued altcoin, citing strong fundamentals and bullish technical signals. The analyst’s insights have attracted considerable attention in the cryptocurrency community.
Why I think $MYTH is undervalued:
(1/5) 🧵 pic.twitter.com/nkAGmZQP2h
— Inmortal (@inmortalcrypto) June 6, 2024
Mythos Boasting Strong Fundamentals and Bullish Technicals
Inmortal has spotlighted Mythos, a multi-chain ecosystem designed to democratize gaming for creators and players, for its significant potential. However, despite its solid foundation, the analyst says Mythos is trading well below its fair value.
Mythos is backed by Mythical Games, the only company to have an NFT (non-fungible token) marketplace approved by the App Store. This approval signals significant institutional recognition and compliance, setting Mythos apart from many competitors. Additionally, Mythos has formed a strategic partnership with Pudgy Penguins, a well-respected name in the NFT community. This collaboration boosts Mythos’ visibility and credibility within the burgeoning NFT space.
Technically, MYTH exhibits several bullish signals. The altcoin has shown consecutive higher lows, indicating a positive trend. Furthermore, MYTH’s price is above the 200-day moving average (200MA), a key indicator of long-term bullish momentum. The deviation setup with the 200MA adds to the optimism surrounding the altcoin’s potential for further gains.
At the time of writing, MYTH is the 273rd largest cryptocurrency by market capitalization, trading at $0.438. The combination of strong fundamentals and technical indicators suggests that Mythos could be significantly undervalued, presenting a potential opportunity for investors.
Memecoin Floki Predicted to Breakout and Reach New Highs
In addition to Mythos, Inmortal has also turned attention to the memecoin Floki. According to the analyst, FLOKI is set to break out and reach a new all-time high of $0.0006. This prediction is based on the performance of FLOKI since the beginning of 2024.
$FLOKI made a new ATH.$DOGE made a new ATH too? Nah.
Since the beginning of 2024 I have been saying that $FLOKI would lead memecoins this cycle, and it is happening.
Be ready for acceleration. pic.twitter.com/la6CzKR1rp
— Inmortal (@inmortalcrypto) June 7, 2024
Inmortal has been consistently optimistic about FLOKI, predicting it would lead the memecoin category in the current market cycle. The recent price movements of FLOKI seem to support this outlook, with the altcoin currently valued at $0.000281. Inmortal’s analysis highlights the importance of identifying undervalued assets with strong fundamentals and technical indicators.
Another respected analyst, Bluntz, who accurately predicted Bitcoin’s 2018 bottom, is now expressing bullish sentiment on FLOKI. Bluntz highlights a significant technical pattern forming on FLOKI’s daily chart. He notes that FLOKI displays an uptrending stair-step pattern characterized by alternating higher highs and higher lows. This pattern is widely recognized in technical analysis as an indicator of bullish momentum. The emergence of this pattern suggests that FLOKI could soon experience a substantial price increase.
all those slow and steady organized higher highs and higher lows on $FLOKI daily all look like a series of 1-2's to me.
escape velocity soon imo, dont be afraid to dream a little anon. https://t.co/yaPPjKyPcc pic.twitter.com/ZSRnXAJV1p
— Bluntz (@Bluntz_Capital) May 29, 2024
According to Bluntz’s analysis, FLOKI is poised to reach “escape velocity soon.” He foresees the token potentially rising to a price of $0.00075. This projection represents a notable 162% increase from its current trading price of $0.000286. Such a significant upward movement would mark a remarkable performance for FLOKI, attracting the interest of traders and investors alike.
