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- A well-known crypto strategist has highlighted Pepe (PEPE), a frog-themed memecoin, as a strong contender in the altcoin market.
- The analyst, known as Cred, has shared his bullish outlook on PEPE with his 624,100 followers on social media platform X.
- Cred believes that PEPE is outperforming other altcoins, including Dogecoin (DOGE), in terms of market structure.
Renowned crypto strategist Cred has identified Pepe (PEPE) as a leading altcoin, outpacing even Dogecoin (DOGE) in terms of market structure. He also shares insights on other memecoins including Bonk (BONK) and dogwifhat (WIF).
Pepe (PEPE) Leads the Altcoin Pack
According to Cred, PEPE is demonstrating a strong market structure, moving close to its all-time high despite last month’s marketwide correction. As of writing, PEPE is valued at $0.00000865, less than 20% away from its all-time high of $0.0000106. Cred’s analysis suggests that PEPE is ahead of several other altcoins, including Bonk and Doge, which are still technically testing their respective resistances. Source: Cred/X
Dogecoin (DOGE) May Lose Momentum
Turning to Dogecoin, Cred predicts that DOGE could lose steam if it retests its immediate support at $0.147. At the time of writing, DOGE is worth $0.162, very close to the analyst’s next breakout level. Source: Cred/X
Bonk (BONK) and dogwifhat (WIF) Show Promise
As for fellow memecoin Bonk (BONK), Cred suggests that the altcoin looks bullish as long as it trades above its range midpoint at $0.000025. At the time of writing, BONK is trading at $0.0000262. Source: Cred/X The last coin on the trader’s list is dogwifhat (WIF). According to Cred, WIF is in the midst of a new uptrend with invalidation below $3. At the time of writing, WIF is worth $3.37. Source: Cred/X
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Conclusion
In conclusion, while the crypto market continues to fluctuate, Cred identifies Pepe (PEPE) as a leading altcoin, outpacing other popular memecoins like Dogecoin (DOGE). Other memecoins such as Bonk (BONK) and dogwifhat (WIF) also show potential, according to the analyst. As always, investors are advised to conduct their own research and exercise caution when investing in volatile digital assets.
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