Veteran crypto analyst and trader Altcoin Sherpa has revealed his bullish forecast for a relatively new competitor to Dogecoin (DOGE) and Shiba Inu (SHIB). Here are the altcoins on his radar expected to rise.
PEPE Expects Double Digit Rise
Altcoin Sherpa, the anonymous crypto analyst, suggests that the meme coin Pepe (PEPE) has formed a bottom and could rise double digits from its current levels. Implementing basic Fibonacci retracement levels on the PEPE chart, Altcoin Sherpa anticipates a 57% rise from roughly $0.00000150 to $0.00000235:
My original idea about this chop from here and the 0.786 Fibonacci level hasn’t changed for PEPE. However, I think it’s bottoming out mid-term and will go at least to the 0.50 Fibonacci level.
Pepe, having risen over 2600% since mid-April, is trading at $0.000001417, a 0.44% increase in the last 24 hours at the time of this writing. Data shows the popular meme coin’s market value to be just over $600 million.
Many Altcoins Expect to Rise Between 20 Percent to 50 Percent
Turning his attention to other altcoins he expects to rise following PEPE, Altcoin Sherpa asserts that many altcoins have hit bottom in the short term. Sharing graphs for Ethereum (ETH) scaling solution Arbitrum (ARB), smart contract blockchain Sui Network (SUI), and NFT marketplace Blur (BLUR), the experienced crypto analyst notices a bounce off from a support level. While he suggests many altcoins could see rises between 20% to 50% in the future, he also adds that these rallies might be short-lived:
I still think many altcoins have bottomed out short-term. I haven’t decided if this is some sort of trend reversal, but I have my doubts. Still, I think a 20-50% rise is coming for many of these. Maybe they will face a larger drop after this rise.
