Memecoins
A Cryptocurrency Trader Says These Two Meme Coins Are Set to Peak and Neither of Them Are Dogecoin or Shiba Inu
June 1, 2024 1:53 pm | 2 minute read
A well-known cryptocurrency trader predicts substantial growth for two meme coins in the coming months, Pepper (CRYPTO: PEPPER) AND Pepe Moneta.
What happened: Friday, pseudonymous cryptocurrency trader Altcoin Sherpa shared his bullish outlook on Pepe and Pepe Coin on X. While he expects short-term pullbacks, he believes both meme coins will rise significantly in the coming months.
$PEPPER both will likely retreat in the near term, but I still believe both will be much higher in the coming months. I have both pic.twitter.com/cAFwlZBgw8
— Altcoin Sherpa (@AltcoinSherpa) May 31, 2024
Altcoin Sherpa daily chart analysis suggests that Pepe may retest its support level at $0.00001084. Currently, Pepe is trading at $0.00001506.
The trader’s chart for Pepe Coin indicates a potential decline after reaching the resistance at $5.50. Pepe Coin is trading at $5.31, down nearly 3% on the day.
Furthermore, the cryptocurrency analyst and trader expressed a long-term bullish attitude Render (CRYPTO: RNDR), the native asset of the decentralized GPU rendering blockchain. He recommended a dollar-cost averaging strategy for RNDR, which trades at $10.06 and has shown a slight increase over the past 24 hours.
$RNDR not really a great active trade, but plus 1 you buy it and DCA if it goes down. AI Coins haven’t performed very well in the last week, but it makes sense for them to cool down a bit. However, we are still bullish on this 1 for the cycle pic.twitter.com/U9j4Eq6TkK
— Altcoin Sherpa (@AltcoinSherpa) May 30, 2024
Read also: A Crypto Analyst Predicts This Altcoin Will Explode 260% in 2024 and It’s Not Dogecoin or Shiba Inu
Because matter
Meme coins like Pepe and Pepe Coin have gained significant attention in the cryptocurrency market due to their viral nature and community-driven growth.
Altcoin SherpaThe forecasts come as the market watches these assets closely for potential high returns. Pepe’s recent price increase is in line with the broader trend of meme coins experiencing rapid price movements, often driven by social media hype and speculative trading.
Pepe Coin’s current resistance level and potential decline, on the other hand, highlight the inherent volatility of meme coins. Investors are advised to exercise caution and consider long-term strategies, such as dollar-cost averaging, as suggested by Altcoin Sherpa for RNDR.
The bullish outlook on Render (RNDR) also highlights the growing interest in decentralized technologies and their applications.
As the native asset of a decentralized GPU rendering blockchain, RNDR and its performance could indicate broader trends in the blockchain and crypto space.
Now read: Crypto analyst predicts Pepe coin will “break out” as price escapes bearish channel
This content was partially produced with the help of Benzinga Neuro and has been reviewed and published by Benzinga Editors.
Photo: Shutterstock
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