A crypto analyst has forecasted a 100% increase for Pepe (CRYPTO: PEPE), a mid-cap competitor to Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB), reflecting a trend from 2024.
What Happened: The anonymous analyst known as Altcoin Sherpa shared on X that PEPE is poised to rise by approximately 100%. This prediction follows a phase of consolidation and accumulation akin to that observed in 2024.
Altcoin Sherpa stated, “PEPE also went through a three-month accumulation/consolidation cycle in the late third quarter of 2024 and then had another run in December. It's currently in the same exact region in the same consolidation. I expect PEPE to do a 2x or something from the bottom at a minimum.”
At the time of writing, PEPE was trading at $0.00000884, marking a rise of about 23% over the past week. The analyst also pointed out that the notion of “altcoin seasons” is antiquated, and traders should anticipate periods of growth followed by downturns.
Also Read: Forget Dogecoin And Shiba Inu – This Altcoin Expected To Skyrocket By 116% Before End Of This Cycle
Altcoin Sherpa further implied that Bitcoin maintaining above a key psychological support level signals bullish prospects for altcoins. He counseled traders not to panic during initial dips and to view them as buying opportunities.
Why It Matters: The prediction by Altcoin Sherpa highlights the potential volatility and high returns associated with investing in altcoins like PEPE. His comparison of the current market conditions to those of 2024 suggests that history might repeat itself, leading to significant gains for investors.
However, the analyst’s caution about the outdated concept of “altcoin seasons” and the need for traders to anticipate periods of prosperity and downturns underscores the inherent risks involved in cryptocurrency trading.
His advice to consider initial dips as buying opportunities could be a valuable strategy for traders looking to maximize their returns in the volatile crypto market.
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Image: Shutterstock/Akif CUBUK
