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Popular crypto analyst Altcoin Sherpa has cautioned that Ethereum (ETH) 
$2,997 may face a significant correction against Bitcoin 
$119,921 (ETH/BTC). In a statement to his 233,100 followers on social media platform X, he indicated that the ETH/BTC pair could drop by over 35% from its current value.
Potential Decline of Ethereum
Sherpa noted that Ethereum’s lower levels might hover around 0.024 BTC, and if Bitcoin strongly surpasses $100,000, a further significant decline in the ETH/BTC pair could occur.
“ETH: I’m not sure if the lower level is around 0.024 BTC, but another significant drop could happen if Bitcoin strongly exceeds $100,000. It would be a complete wreck.”
Sherpa also warned that Dogecoin 
$0.196243 (DOGE), one of the most popular memecoins, might fall below its trading range’s lower limit, potentially around $0.32. However, he maintained his overall optimism for DOGE, contingent on Bitcoin’s rise.
“DOGE: After peaking, there will likely be a drop below the lows now. I’m generally optimistic about this coin, and if Bitcoin rises, this will increase.”
Outlook on Bonk
Regarding the Solana 
$163-based memecoin Bonk (BONK), the analyst expressed continued optimism but warned that it might drop below $0.00003894 in the short term.
“BONK: I still hold some of this coin, and a general cooling off seems completely normal and healthy. The 0.50 Fibonacci level and slightly lower levels are reasonable points to buy this coin as an investment.”
Currently, Ethereum trades at 0.03768 BTC ($3,624) with a 3.92% increase in the last 24 hours. Dogecoin stands at $0.40, gaining 4.9%, while Bonk sits at $0.00004361, reflecting a 2% rise in the same period. Sherpa’s warnings indicate potential volatility in the crypto markets, particularly highlighting the importance of monitoring Ethereum’s performance against Bitcoin.
These insights are significant for crypto investors to understand market trends and develop investment strategies. Nevertheless, thorough analysis and careful evaluation of market conditions are recommended before making any investment decisions.
In conclusion, Sherpa’s analyses aim to inform investors about the future movements of significant cryptocurrencies like Ethereum, Dogecoin, and Bonk. In the ever-changing world of crypto dynamics, such expert opinions can be beneficial in supporting investment decisions.
