- Crypto trader Altcoin Sherpa forecasts a rally of over 50% for Pepe (PEPE), a memecoin that rivals Dogecoin (DOGE) and Shiba Inu (SHIB) and has increased by over 2,600% since mid-April.
- In addition to PEPE, Altcoin Sherpa believes that other altcoins such as Arbitrum (ARB), Sui Network (SUI), and Blur (BLUR) may also rally by 20% to 50%, although he cautions that these rallies could be short-term.
Rising Memecoin, Pepe, Predicted to Rally by Over 50%
Pseudonymous crypto trader Altcoin Sherpa, who commands a Twitter following of 195,700, has expressed bullish sentiment for Pepe (PEPE). As a relatively new competitor to well-known memecoins Dogecoin (DOGE) and Shiba Inu (SHIB), PEPE is showing promising signs of an impending rally, according to the popular trader.
Expectations of a 57% Surge for PEPE
Applying Fibonacci retracement levels to his analysis, Altcoin Sherpa suggests that PEPE, currently trading around $0.00000150, could climb to approximately $0.00000235, a 57% increase. He writes,
“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.”
Notably, since mid-April, PEPE has soared by over 2,600%.
Potential Rallies for Other Altcoins
In addition to his positive outlook on PEPE, Altcoin Sherpa also sees potential for rallies among other crypto assets. Specifically, he views Arbitrum (ARB), a scaling solution for Ethereum (ETH), Sui Network (SUI), a smart contract blockchain, and Blur (BLUR), a non-fungible token (NFT) marketplace, as having bottomed out in the short run and ripe for rallies of 20% to 50%.
Cautious Optimism
However, Altcoin Sherpa maintains a degree of caution, warning that these predicted rallies could be short-lived. He states,
“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).”
As of the time of writing, Arbitrum, Blur, and Sui are trading for $1.08, $0.471, and $.0957, respectively.