Dogecoin and Shiba Inu Rival That’s Up Over 2,400% in a Month Has More Gas in the Tank, According to Top Trader
A widely followed crypto analyst is expressing short-term bullishness on one Dogecoin (DOGE) and Shiba Inu (SHIB) rival after the memecoin corrected heavily following a months-long rally.
Pseudonymous crypto analyst Kaleo tells his 586,200 Twitter followers that the third-largest memecoin by market cap, Pepe (PEPE), still possesses more upside potential.
According to Kaleo, the Pepe memecoin has gone on to hit new all-time highs since it went mainstream last month every time it has crossed above a descending trend line on the one-hour chart.
“I don’t know man, maybe PEPE still has something left in the tank.
Another meme line broken for the current king of the memes.”
Pepe, which is trading at $0.00000194 at time of writing, is up by 2,486% from the April 18th low of $0.000000075.
Kaleo, however, warns that most memecoins tend to lose value over time and are therefore not suitable as long-term investments.
“Whether you like to hear it or not – the majority of meme coins will trend to zero.
This goes for all alts, but the life cycle of a meme coin typically happens over a compressed time period. Aka pump faster, dump faster.
If you’re cool with that, no big deal. I respect that. Just don’t say you’re ‘in it for the long haul’ on some random meme – because there’s no quicker way to spot someone who is either completely delusional, or completely full of shit.”
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Dogecoin and Shiba Inu Rival That’s Up Over 2,400% in a Month Has More Gas in the Tank, According to Top Trader appeared first on The Daily Hodl.
Go to Source
Author: Daily Hodl Staff
