Renowned crypto trader Altcoin Sherpa, with a massive following of 195,700 on Twitter, is making waves in the crypto community with his bullish sentiment on Pepe (PEPE), an emerging memecoin. Sherpa believes that PEPE is on the verge of a significant rally, potentially experiencing a double-digit percentage increase from its current levels. Additionally, he highlights the positive outlook for various altcoins, emphasizing their short-term bottoming patterns.
Pepe’s Potential Rally:
According to Altcoin Sherpa’s analysis, Pepe is showing signs of forming a bottom and could experience a substantial surge. By applying Fibonacci retracement levels, Sherpa suggests that PEPE might climb from approximately $0.00000150 to $0.00000235, representing a remarkable 57% increase. Despite the recent surge of over 2,600% since mid-April, PEPE’s current trading price stands at $0.00000150.
Bottoming Altcoins:
Altcoin Sherpa’s optimism extends beyond Pepe, as he identifies several altcoins that have potentially reached short-term bottoms. To support his claims, Sherpa shares charts depicting Ethereum scaling solution Arbitrum (ARB), smart contract blockchain Sui Network (SUI), and non-fungible token (NFT) marketplace Blur (BLUR). These charts exhibit a rebound from key support levels, suggesting that many altcoins could rally by 20% to 50% in the near future.
Potential Short-Lived Rally:
While Altcoin Sherpa remains positive about the short-term prospects of altcoins, he also cautions that the rally may be short-lived. He acknowledges the possibility of further downside after the initial surge and questions whether this marks a trend reversal. However, he maintains his belief that a significant upward move of 20% to 50% is imminent for many altcoins.
Current Prices:
At the time of writing, Arbitrum, Blur, and Sui are trading at $1.08, $0.471, and $0.0957, respectively. These prices offer potential entry points for traders looking to capitalize on the anticipated rally in altcoins, according to Altcoin Sherpa’s analysis.
 Sherpa’s bullish sentiment on Pepe and his identification of potential bottoming patterns in various altcoins have captured the crypto community’s attention. As an influential crypto trader, his insights and predictions carry weight in the industry. Traders and investors should closely monitor Pepe’s price movement, along with the performance of altcoins like Arbitrum, Blur, and Sui, as they navigate the volatile yet promising world of cryptocurrencies.
