- Altcoin Sherpa, a well-known crypto trader, predicts a potential drop in DOGE’s price to $0.5.
- PEPE Coin, according to the trader, has a higher growth potential than DOGE.
- The future of altcoins is largely dependent on the performance of BTC’s price.
Altcoin Sherpa, a prominent crypto trader, has suggested that DOGE, the largest meme coin by market value, may face a price drop to $0.5. He also believes that PEPE Coin, a new contender that emerged this year, has more growth potential. The performance of BTC’s price will play a significant role in determining the future of altcoins.
PEPE Coin’s Bright Future
Altcoin Sherpa, also known as a popular crypto trader, expects a further decline in Dogecoin’s (DOGE) price. Furthermore, he argues that PEPE Coin, which gained popularity this year, could outperform DOGE. With a market value slightly below $473 million, PEPE is currently trading at a price that is 1845% higher than its approximate price of $0.000000055 on April 19. At the time of writing, Dogecoin’s market value is slightly above $8.9 billion.
DOGE’s Downward Trend
According to Altcoin Sherpa, Dogecoin is showing a downward trend and could drop by about 21% from its current level. This view is linked to the general market sentiment, with BTC still unable to recover from $26,000. If further declines occur, Dogecoin may not be the only altcoin to suffer double-digit losses. However, Elon Musk continues to support the project, reminding the Doge community of his support with a recent post.
Conclusion
In conclusion, while Dogecoin has survived many bear markets, the emergence of new competitors like PEPE Coin poses a potential threat. The future of these altcoins, however, is largely dependent on the performance of BTC’s price. As the crypto market continues to evolve, traders and investors must stay informed and make strategic decisions based on market trends and forecasts.
