SHIB Will Lose Place To PEPE In New Bull Cycle, Analyst Makes The Case
27 October 2023 - 1:00AM
NEWSBTC
The crypto market is constantly in motion; there is a potential
shift in SHIB and its position in the nascent sector. An analyst
presented a bullish case for PEPE, which could directly impact
SHIB’s position in the meme coin market. Related Reading: Top 3 XRP
Developments You Should Be Aware Of That Could Boost Price As of
this writing, PEPE has considerably outperformed SHIB and other
memecoins. PEPE records a 14% increase in the last 24 hours alone
and a 90% increase over the past two weeks, while SHIB records an
18% profit over the same period. SHIB Investors Should Fear PEPE’s
Impact? An analyst believes that PEPE’s current price action will
extend beyond the early stages of the current Bull Cycle, following
a successful break out beyond the 7730 and 8127; as seen in the
chart below, the cryptocurrency hit a critical resistance level.
The analyst stated: $PEPE That was a quick move upon retaking the
range. First target at 10800 reached but ultimately I am holding a
spot bag of this for the cycle to come. Still stand by the idea
that $PEPE will be this cycle’s $SHIB. However, the analyst
believes that PEPE’s rally is barely starting. The cryptocurrency
reclaimed an important area and could continue to climb beyond its
all-time high and into uncharted territory during the bull cycle.
Altcoins To Watch In Upcoming Cycle PEPE is one of the altcoins the
analyst is keeping an eye on. In addition to the meme coin, the
trader expects the NFT and staking sectors to bloom in the coming
months. Apecoin’s APE and LidoDAO’s LDO have been rallying due to
the current bullish momentum in the market. LDO alone could hit the
$2 target in the short term and continue its run higher into the $3
territory. Other cryptocurrencies to watch if these sectors trend
to the upside are ETH, DOGE, BLUR, and ORDI. On APE, the analyst
stated: APE So far so good. Pretty strong and about to test an
important high timeframe resistance area. Clear this and I think we
can look for ~$1.8 next. If NFTs bounce as well that would help
this. Related Reading: Still Not Bullish On Solana? 4 New Reasons
Why You Should Be As of this writing, APE is trading at $1.3 with a
25% profit in the past two weeks. Cover image from Unsplash, chart
from Tradingview
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