Crypto Analyst Altcoin Sherpa Says This Red-Hot Memecoin May Have More Upside Potential

Pseudonymous analyst Altcoin Sherpa tells his 217,600 followers on the social media platform X that PepeCoin (PEPECOIN) could retrace to a key level before resuming an uptrend.

A popular crypto analyst says that one memecoin, which has already surged over 27,000% year-to-date, may be poised for further gains.

The pseudonymous analyst, known as Altcoin Sherpa, tells his 217,600 followers on the social media platform X that PepeCoin (PEPECOIN) could retrace to a key technical level before resuming an uptrend.

“Strong PepeCoin is doing well right now, showing a lot of strength. To be determined if this is going to continue momentum, but watch out for the 200-day EMA (exponential moving average) around here. $2.30ish would be a decent entry in the short term. I have a bag.”

PepeCoin is trading for $2.97 at the time of writing, a gain of more than 27,000% since October 13th, 2023, when it was valued at $0.01088.

Next, the analyst compares the price chart of Synapse (SYN), a protocol that aims to enable secure cross-chain communication, to the price chart of the smart contract platform Sui Network (SUI).

He suggests that SYN may be forming a similar pattern to SUI and could soon break out to the upside as several EMAs are rising on the four-hour chart.

“This is why I like SYN. This is the SUI chart (replay) before versus SYN now. One of the problems I see though is that SUI has a legit bid and somewhat narrative; SYN is a shitty bridge where there are a lot of better coins for that. Chart alone, I like SYN, but this might take a bit…

I think the other bridges are probably better trades. But this is a nice chart so let’s see.”

SUI is trading for $1.01 at the time of writing, up more than 19% in the last 24 hours. Meanwhile, SYN is valued at $0.61, up 8.6% on the day.