A widely followed crypto analyst believes two memecoins have huge upside potential in the coming months.
Pseudonymous crypto trader Altcoin Sherpa tells his 216,400 followers on the social media platform
However, he warns that the memecoins may retest lower levels first.
“Both are likely to fall back in the short term, but I am still convinced they will both be much higher in the coming months. I have both.”
Looking at the trader’s daily chart, he suggests that Pepe could retest the support level at $0.00001084. Pepe is trading at $0.00001506 at the time of writing, up almost 5% in the last 24 hours.
As for PepeCoin, Altcoin Sherpa shares a chart that suggests the meme token is poised for a step back after respecting the $5.50 resistance.
PepeCoin is trading at $5.31 at the time of writing, down almost 3% on the day.
The trader too say that he is optimistic about the native asset of the decentralized graphics processing unit (GPU) rendering blockchain Render (RNDR) in the long term.
“RNDR: Not really a great active trade, but more like you just buy it and average dollar cost as it goes lower. Artificial intelligence coins haven’t done well this past week, but it makes sense that they are cooling off a bit. But I’m still optimistic about this cycle.”
Render is trading at $10.06 at the time of writing, up fractionally in the last 24 hours.
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Generated image: DALLE3