BRC-20 Token Looks Set to Fly High: Is Bitcoin’s New ATH the Reason?

• An analyst predicted that SATS’ price increase could push the market cap to $5 billion.
• The MACD reading was positive, suggesting an upward momentum for the token.
• Money flow decreased, indicating that it could be difficult to flip the $0.00000074 resistance.

According to analyst CryptoKaleo, SATS (SATS) could be ready to hit a $5 billion market cap. CryptoKaleo mentioned this in a post on X, noting that the BRC-20 token’s market cap of $1.4 billion was undervalued.

$SATS looks ready to send.

A bit surprising the top BRC20 memecoin is still sitting at only a $1.4B mcap.

Send this to $5B+ with haste.

Long it with me here: https://t.co/32dHnZIFxS pic.twitter.com/TsNbtCltzV

— K A L E O (@CryptoKaleo) March 6, 2024

Although the analyst did not share the reason behind his prediction, it seemed that Bitcoin’s (BTC) recent milestone was a major factor. On March 5, Bitcoin rallied above $69,000 and hit a new all-time high.

This development sparked bullish sentiment around Bitcoin and its ecosystem. SATS is a BRC-20 token built on the Bitcoin Ordinals network for the unfamiliar. Therefore, one can assume that SATS is a beta of Bitcoin.

Furthermore, histor…

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