A popular crypto trader is expressing bullish sentiment on one relatively new Dogecoin (DOGE) and Shiba Inu (SHIB) rival.
Pseudonymous crypto trader Altcoin Sherpa tells his 195,700 Twitter followers that memecoin Pepe (PEPE) is forming a bottom and could rally by double-digit percentage points from current levels.
Applying the key Fibonacci retracement levels, Sherpa says PEPE could surge from around $0.00000150 to $0.00000235, a 57% rise.
“PEPE: Nothing has changed from my original idea of this chopping from here and the 0.786 Fibonacci level.
I think that this is forming a bottom, though, in the mid-term. And this is going to go to at least the 0.50 Fibonacci level.”
Source: Altcoin Sherpa/Twitter
PEPE, which is up by over 2,600% since mid-April, is trading at $0.00000150 at time of writing.
Turning to other crypto assets, Sherpa says that “many” altcoins have bottomed over the short run.
While attaching the charts of Ethereum (ETH) scaling solution Arbitrum (ARB), smart con
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