A widely followed crypto analyst believes two memecoins have massive upside potential in the coming months.
Pseudonymous crypto trader Altcoin Sherpa tells his 216,400 followers on the social media platform X that he is bullish on both Pepe (PEPE) and PepeCoin (PEPECOIN).
However, he warns the memecoins may first retest lower levels.
“Both of these probably pullback in the short term but I’m still of the belief that they will both be much higher in the coming months. I have both.”
Looking at the trader’s daily chart, he suggests Pepe could retest the support level at $0.00001084. Pepe is trading for $0.00001506 at time of writing, up nearly 5% in the last 24 hours.
As for PepeCoin, Altcoin Sherpa shares a chart suggesting that the meme token is poised for a leg down after respecting resistance at $5.50.
PepeCoin is trading for $5.31 at time of writing, down nearly 3% on the day.
The trader also says that he is long-term bullish on the native asset of the decentralized graphics processing unit (GPU) rendering blockchain Render (RNDR).
“RNDR: not really a great active trade but more one you just buy it and dollar-cost average if it goes lower. Artificial intelligence coins haven’t done super well the last week but it makes sense for them to cool a bit. Still bullish on this one for the cycle though.”
Render is trading for $10.06 at time of writing, a fractional increase in the last 24 hours.
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The post Trader Says Two Memecoins Primed To Surge ‘Much Higher’ Over the Coming Months, Maps Path Forward for Render appeared first on The Daily Hodl.