A widely followed crypto analyst says that one memecoin will likely outperform dog-themed rivals Dogecoin (DOGE) and Shiba Inu (SHIB).
Pseudonymous trader Altcoin Sherpa tells his 196,400 X followers that Pepe (PEPE) bounced off a critical support level at $0.00000122 and likely has more room to run.
He uses Fibonacci retracement levels, a method of technical analysis for determining an asset’s support and resistance levels.
Sherpa also suggests that Pepe’s relatively low market cap compared to DOGE and SHIB indicates the memecoin has a greater potential for growth.
“PEPE: Moving off the .786 fib (Fibonacci), I’ve still got a position and plan on holding this one for a bit.
I think that it probably outperforms DOGE and SHIB given the respective market caps overall.”
Source: Altcoin Sherpa/X
At time of writing Pepe is trading for $0.00000123, down 1.2% during the last 24 hours.
With a market cap of $518.2 million, Pepe is the 80th-largest digital asset by market cap. DOGE is
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