Dogecoin and Shiba Inu competitor may follow a 2024 pattern that delivered over 370% increase, forecasters anticipate 2x price jump ahead.
Hey there! Let's dive into some crypto talk, shall we?
A well-known crypto analyst and trader has got his eye on one of Dogecoin's rivals—Pepe (PEPE) memecoin. You heard it right! The pseudonymous analyst, known as Altcoin Sherpa, believes Pepe is primed to surge by around 100% or more.
Sherpa shared his thoughts with his impressive 244,900 followers on social media platform X. He pointed out that the current market behavior of Pepe mirrors its late 2024 pattern, during which it went through a three-month accumulation/consolidation phase, followed by a major rally in December. As of now, PEPE is hanging around in the same region, in the same consolidation, and Sherpa predicts a similar outcome.
"PEPE also went through a three-month accumulation/consolidation cycle in the late third quarter of 2024 and then had another run in December. It's currently in the same exact region in the same consolidation. I expect PEPE to do a 2x or something from the bottom at a minimum."
At the time of writing, Pepe was trading at $0.00000884. That's up by around 23% from the previous week.
Sherpa also shed some light on the altcoin seasons, saying that we should forget the old frame of mind that those seasons are long-lasting. Instead, he suggests that you should expect one to three months of good times, followed by two to six months of choppy markets.
Over the near term, the pseudonymous analyst sees a positive outlook for the market, especially after Bitcoin surpassed a key psychological support level. According to him, Bitcoin staying above $90,000 presents a great opportunity for altcoins.
"These are dip-buying opportunities in my opinion. BTC is above $90,000 and the entire environment's looking a lot better; don't s&t yourself when altcoins take that first 20% dip. Look to scale in the next few days if we see more red, don't be scared."*
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Enrichment Data:- According to crypto analyst Altcoin Sherpa, Pepe (PEPE) is currently positioned for significant growth following a consolidation phase. Sherpa highlights that PEPE's current market behavior mirrors its late 2024 pattern, where a three-month accumulation period preceded a major rally[1][2].- Sherpa's analysis points towards a 100% surge (2x gain) from the recent lows, citing similarities to PEPE's December 2024 breakout after prolonged consolidation[1].- The analyst emphasizes that "altcoin seasons" are now shorter and more volatile, suggesting traders should accumulate during dips rather than expect extended bullish periods[2].
- The analyst, Altcoin Sherpa, who shared his insights on Pepe (PEPE) memecoin, has predicted a potential 100% surge or more, given the coins' current market behavior that mirrors its late 2024 pattern.
- According to Altcoin Sherpa, Pepe is currently hanging around in the same region, in the same consolidation where it was during its late 2024 surge, indicating a possible similar outcome.
- The pseudonymous analyst expects Pepe, which is currently trading at $0.00000884 and up by around 23% from the previous week, to do a 2x or more from the bottom at a minimum, given the coin's similarities to its December 2024 breakout.
- In a prediction for altcoins, the analyst sees a positive outlook for the market, especially after Bitcoin surpassed a key psychological support level, stating that BTC staying above $90,000 presents a great opportunity for altcoins.
- The analyst advises traders to view dips as dip-buying opportunities and to accumulate during unstable markets, as altcoin seasons are now shorter and more volatile, suggesting traders should expect one to three months of good times, followed by two to six months of choppy markets.
