Dogecoin and Shiba Inu Rival That’s Up Over 2,400% in a Month Has More Gas in the Tank, According to Top Trader

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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.”

Source: Kaleo/Twitter

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.”

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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.

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