A widely followed crypto analyst updated his outlook on smart contract platform Ethereum (ETH) and meme coin Pepe (PEPE), saying that one of the top 10 altcoins will eventually rise 500%.
In a new thread, anonymous cryptocurrency trader Altcoin Sherpa told his 216,200 followers on social media platform X that meme asset Dogecoin (DOGE) will eventually hit $1.
“Jeets may sell you today, but we'll eventually bring DOGE down to $1, Kabosu. Thanks for your help.”
Dogecoin is trading at $0.168 at the time of writing, up 6.9% in the past 24 hours.
Speaking of top altcoins, Sherpa said he remains bullish on the second-largest digital asset by market cap, with trader charts pointing to ETH breaking out above the $3,980 level within the coming weeks.
“ETH: We've hit a key level, but if all is cleared we expect to break through this level within the next few weeks. Still bullish.”
At the time of writing, Ethereum was trading at $3,728, down 1.5% from the previous day.
The trader concluded his analysis by stating that when it comes to meme assets, PEPE is a good long-term investment and should perform better relative to DOGE.
“If you're looking for a large cap to go long on, I think PEPE is good. Liquidity is good, volume is strong and it's definitely catching up a bit with the others in my opinion. I'm not saying it's going to reverse DOGE or anything, but it should go up more on a relative basis. Long position in the green box.”
PEPE is trading at $0.000014 at the time of writing, down 5% in 24 hours, from $0.0000011 on February 19th.
Sherpa noted earlier this week that PEPE could outperform larger meme assets based on buyer demand and trading volumes.
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