- Sherpa predicts an exciting potential for PEPE to skyrocket from approximately $0.00000150 to $0.00000235, presenting an impressive surge of 57%.
- The renowned trader suggests that numerous altcoins have the potential to experience a substantial rally ranging between 20% to 50% soon.
Altcoin Sherpa, a renowned crypto trader, is expressing positive sentiments regarding the Dogecoin (DOGE) and Shiba Inu (SHIB) rivals. Sherpa, on his Twitter account, where he has a substantial following of 195,700 users, said that Pepe (PEPE), a memecoin, is currently approaching its lowest point and shows promise for a substantial surge in value. The trader noted that the frog-themed coin has the potential to experience noteworthy gains, potentially reaching double-digit percentage increases from its current levels.
Using the crucial Fibonacci retracement levels, Sherpa predicts an exciting potential for PEPE to skyrocket from approximately $0.00000150 to $0.00000235, presenting an impressive surge of 57%. The trader wrote,
Nothing has changed from my original idea of this chopping from here and the .786 fib. I think that this is forming a bottom, though, in the mid-term and this is going to go to at least the .50 fib. *I still have PEPE and am just sitting on that position for now.
As of press time, Pepe is currently trading at $0.000001446. In the past 24 hours, the coin has had a 3.45% increase. Additionally, the coin has a total market cap of $566.58M and a 24-hour trading volume of $195.93M.
The overall Pepe performance shows that in the last week, the coin has experienced a decline of 6.7%, followed by a remarkable surge of 430.3% over the last 30 days, and boasting an impressive growth of 2442.7% since its launch, this cryptocurrency is undeniably on an upward trajectory.
With an expert eye on the market, Sherpa reveals that several altcoins have found their bottom in the short term, offering an intriguing opportunity for investors. To illustrate this emerging pattern, he attached charts of Ethereum (ETH) scaling solution Arbitrum (ARB), smart contract blockchain Sui Network (SUI), and non-fungible token (NFT) marketplace Blur (BLUR), all showcasing these crypto assets rebounding from a support level.
Building anticipation, the renowned trader suggests that numerous altcoins have the potential to experience a substantial rally ranging between 20% to 50% soon.
He added that while the surge holds promise, it is important to remain aware that it may be short-lived.
I still think that many alts are short-term bottoming. To be determined if this is any sort of trend reversal, I personally doubt it. Still, I think a 20-50% move up for many of these is coming (maybe further downside after that, though).
Currently, ARB is trading at $1.15, with a 24-hour increase of 4.74%. At the same time, SUI and BLUR are trading at $0.9842 and $0.4829, respectively. Notably, both coins have had an increase in the last 24 hours.
Difference Between Pepe, Doge, And Shib
Both DOGE and SHIB have significantly impacted the market, with trade volumes exceeding $30 billion at their peak. On the other hand, PEPE reached a peak of $2 billion, demonstrating a somewhat less impressive but still impressive performance.
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Because of the effects of the FTX and Luna crashes, retail involvement, which was a key factor in the success of DOGE and SHIB, is also less significant in the market for PEPE. Notably, whereas DOGE and SHIB have received extensive coverage from the mainstream media, PEPE’s popularity has largely been limited to crypto-centric media platforms, enticing enthusiasts to discover its unique appeal.
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