Memecoins
Trader Says Two Memecoins Are Poised to Rise “A Lot More” in Coming Months, Plots Path to Rendering
A widely followed crypto analyst believes that two memecoins have huge upside potential in the coming months.
Pseudonymous crypto trader Altcoin Sherpa tell his 216,400 followers on the social media platformPEPE) and PepeCoin (PÉPÉCOIN).
However, he warns that memecoins could retest lower levels first.
“Both rates are likely to decline in the short term, but I remain confident that they will both be much higher in the months to come. I have both.”
Source: Altcoin Sherpa/X
Looking at the trader’s daily chart, it suggests that Pepe could retest the support level at $0.00001084. Pepe is trading at $0.00001506 at the time of writing, up almost 5% in the last 24 hours.
As for PepeCoin, Altcoin Sherpa shares a chart suggesting that the meme token is about to decline after respecting resistance at $5.50.
Source: Altcoin Sherpa/X
PepeCoin is trading at $5.31 at the time of writing, down almost 3% on the day.
The trader too said that there is long-term bullish on the native asset of the decentralized graphics processing unit (GPU) rendering blockchain (RNDR).
“RNDR: It’s not really a very active trade, but more of a trade that you just buy and dollar cost average if it goes down. AI coins didn’t perform very well last week, but it makes sense that they would cool down a bit. However, I remain optimistic on this one for the cycle.
Source: Altcoin Sherpa/X
Render is trading at $10.06 at the time of writing, a fractional increase over the past 24 hours.
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