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Dogecoin and Shiba Inu Rival That’s up 27X Since April Forming Bottom, To Surge by Over 50%: Top Crypto Trader
A popular crypto trader is expressing bullish sentiment on one relatively new Dogecoin (DOGE) le Shiba Inu (SHIBE) mohanyetsi.
Mohoebi ea tsebahalang oa crypto ea bitsoang Altcoin Sherpa e re his 195,700 Twitter followers that memecoin Pepe (PEPERE) is forming a bottom and could rally by double-digit percentage points from current levels.
Applying the key Fibonacci retracement levels, Sherpa says PEPE could surge from around $0.00000150 to $0.00000235, a 57% rise.
“PEPE: Nothing has changed from my original idea of this chopping from here and the 0.786 Fibonacci level.
I think that this is forming a bottom, though, in the mid-term. And this is going to go to at least the 0.50 Fibonacci level.”
Mohloli: Altcoin Sherpa/TwitterPEPE, which is up by over 2,600% since mid-April, is trading at $0.00000150 at time of writing.
Turning to other crypto assets, Sherpa o re: that “many” altcoins have bottomed over the short run.
While attaching the charts of Ethereum (ETH) scaling solution Arbitrum (ARB), smart contract blockchain Sui Network (SUI) and non-fungible token (NFT) marketplace Blur (PUTSA), which appear to show the three crypto assets bouncing off a support level, the popular trader says that many altcoins could rally by between 20% to 50% going forward.
However, Sherpa warns that the rally could 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).”
Source: Altcoin Sherpa/Twitter Source: Altcoin Sherpa/Twitter Source: Altcoin Sherpa/TwitterArbitrum, Blur, and Sui are trading for $1.08, $0.471, and $.0957, respectively, at time of writing.
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