Memecoins
Altcoin That Soared Over 1,100% in Three Months Set to Surpass Large-Cap Memecoins, Says Crypto Analyst
A widely followed crypto trader believes a red-hot altcoin is set to outperform other large-cap memecoins.
Pseudonymous crypto analyst Altcoin Sherpa tell his 216,200 followers on the social media platform X que memecoin Pepe (PEPE) has greater upside potential based on buyer demand and trading volume.
“If you’re looking for an overly long large cap meme, I think PEPE is a good meme. Good liquidity, high volume, this one definitely catches up a bit with the others in my opinion. I’m not saying it will topple DOGE or anything, but should rise more relatively. Long in the green boxes.
Source: Altcoin Sherpa/X
Pepe was trading at $0.0000011 on February 19 and at $0.00001383 at the time of writing, a gain of 1,157%.
Then the trader believes Ethereum (ETH) surpasses its all-time high (ATH) by around $5,000 if a spot ETH exchange-traded fund (ETF) is approved.
However, he warns that ETH could reverse course once it surpasses $4,000, before continuing to rise.
“ETH: I think we will briefly pull back around $4,000, but it will definitely break all-time highs if/when the ETF is approved. This still appears to be a free trade for ETH to ATH, which costs $5,000. There may be a few bumps along the way, but it seems inevitable.
Source: Altcoin Sherpa/X
Ethereum is trading at $3,811 at the time of writing, up around 1% in the last 24 hours.
The trader too believes this ETH against Bitcoin (BTC) may have reached a market bottom at 0.049 BTC ($3,333) and could outperform the crypto king in the near term.
“ETH: is this the bottom? It’s hard to really say. We’ve been screwed over this for so long it’s hard to call it. I think it’s probably safer for most to just buy this on the way up rather than trying to grab a knife. ETH is expected to eventually outperform BTC (for a short period of time).
Source: Altcoin Sherpa/X
ETH/BTC is trading at 0.056 ($3,811) at the time of writing, up 4.77% in the last 24 hours.
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