Pepecoin ($PEPE) Price To Rally 2x Soon While Bitcoin Plays A Waiting Game

Memecoin Pepe (PEPE) has surged by 2,000% in two months, attracting crypto enthusiasts worldwide. Altcoin Sherpa, a notable crypto analyst, has emerged with convincing predictions for Pepe’s future and incisive Bitcoin market updates. 

Good news for the Bulls – his outlook is highly bullish! Read on.

PEPE Price To Double In Value? 

Altcoin Sherpa thinks Pepe could rally to more than double its value. He predicts that Pepe will rise to $0.00000234, targeting the.50 Fibonacci level, using Fibonacci retracement levels.

Read A Contrasting Belief: Pepecoin ($PEPE) is Officially Dead – Says Dogecoin Millionaire – Coinpedia Fintech News

In a recent tweet, Altcoin Sherpa disclosed, “PEPE: Added more to my existing position yesterday. I think this moves to the .50 fib eventually but will make a lower high (and I’ll also take profit along the way). I still think this eventually goes way lower, but a lower high/exit pump seems likely to me.”

Pepe’s Performance Analysis

Presently, Pepe is trading at $0.00000116, a phenomenal increase from its humble beginnings marked by its lowest price of $0.0000000551 recorded on April 18th. The remarkable surge in Pepe’s value has turned heads, attracting traders and investors eager to ride the wave of this intriguing meme coin’s success.

Sherpa’s Bitcoin Insights 

While discussing Pepe’s future, Altcoin Sherpa also shares his insights on Bitcoin, the unrivaled titan of the cryptocurrency market. He suggests that Bitcoin (BTC) may experience a period of consolidation, characterized by a lateral movement, around the $25,000 range before potentially embarking on an upward trajectory. Analyzing higher timeframes, the analyst notes no substantial changes and anticipates Bitcoin would continue hovering around $25,000 for days or even weeks before continuing its ascent.

Minor Decline Ahead

Elaborating on Bitcoin’s prospects, Altcoin Sherpa elaborates, 

“BTC: Don’t see any real changes on higher timeframes; wouldn’t be surprised to see more ranging around the $25,000 area. If that is the bottom, I expect consolidation there for several days/weeks and then continuation higher.”

Altcoin Sherpa’s analysis includes a chart showcasing the 200-day exponential moving average (EMA), a widely-utilized indicator in determining short-to-medium-term trends. The chart reveals the 200-day EMA gradually ascending toward the $25,391 price level, aligning harmoniously with the .382 Fibonacci level.

Read: Bitcoin (BTC) Price Can Hit $50K by The End Of 2023 If This Historical Pattern Playout – Coinpedia Fintech News

As of now, Bitcoin is trading at $26,569, reflecting a marginal 0.5% decline within the past 24 hours. The crypto market continues to evolve and presents traders and investors with dynamic opportunities to strategize and capitalize on market fluctuations.