A widely followed crypto analyst says that one rival of dog-themed meme assets Dogecoin (DOGE) and Shiba Inu (SHIB) is repeating a move it did previously that caused it to spark a 200% rally.
In a new strategy session, pseudonymous crypto trader Inmortal tells his 227,000 followers on the social media platform X that the last like memecoin Floki’s (FLOKI) Relative Strength Index (RSI) reached the level it did, the crypto asset saw a 4x price increase.
“Last time we reached this RSI level we bottomed and pumped 200% One of my fav charts right now.”
An asset’s RSI is a technical indicator used to determine if it is overbought or oversold. FLOKI is trading for $0.000144 at time of writing, a 13.2% gain during the last 24 hours.
According to Inmortal, the altcoin cycle has changed so that most tokens will no longer see massive swings to the upside together. Rather, the trader says there will be multiple altseasons where funds are roasted into and out of digital assets.
“My take on Altseason 2025. No more altseasons like in 2021 where 98% of the coins pump together. Given how many coins exist, we will see multiple altseasons, 1-5 narratives at a time, and then rotate. This means, some narratives will mark tops at different times.”
The trader concludes his analysis by noting that the market is currently “brutal” as crypto king Bitcoin (BTC) only needs a 5% rise to hit a new all-time high (ATH) while many altcoins still need gains of 500% to reach their ATHs.
BTC is trading for $105,050 at time of writing, a marginal decrease on the day.
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Generated Image: Midjourney
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