Crypto trader with the nickname Altcoin Sherpa has 195,700 followers on Twitter, Pepe He expressed his bullish sentiment for (PEPE). According to the popular trader, PEPE, a relatively new competitor to well-known meme coins Dogecoin (DOGE) and Shiba Inu (SHIB), is showing promising signs of an impending rally.
57% Increase Expected for PEPE
Applying the Fibonacci retracement levels to his analysis, Altcoin Sherpa suggests that PEPE, which is currently trading around $0.00000150, could climb 57% to around $0.00000235. He states:
“Nothing has changed from my original idea of this slicing from here and the 0.786 Fibonacci level. Still, I think it’s a bottom in the medium term. And this will at least go up to the 0.50 Fibonacci level.”
Notably, PEPE has risen over 2,600% since mid-April.
Potential Rally for Other Altcoins
In addition to its positive outlook on PEPE, Altcoin Sherpa has other crypto- sees rally potential among its assets. Specifically, Arbitrum (ARB), a scaling solution for Ethereum (ETH), Sui Network (SUI), a smart contract blockchain, and Blur (BLUR), an immutable token (NFT) marketplace, have bottomed out in the short-term, and by 20% or more. He sees it as ripe for 50% rallies.
However, Altcoin Sherpa is being somewhat cautious, warning that these projected rallies may be short-lived. He says:
“There are still many AltcoinsI think it’s bottoming out in the short term. I doubt if this is some kind of trend reversal. Still, I think a 20-50% upward move is imminent for most of them. Maybe it will be even more downside from now on.”
At the time of this writing, Arbitrum, Blur and Sui are trading at $1.08, $0.471 and $0.0957, respectively.