Trader Says Memecoin That’s Up Over 27,000% in Under One Year Showing Massive Strength, Updates Outlook on SYN
A closely followed crypto strategist believes that one red-hot memecoin may have more upside potential. Pseudonymous analyst Altcoin Sherpa tells his 217,600 followers on the social media platform X that PepeCoin (PEPECOIN) could retrace to a key level before resuming an uptrend. “Strong PepeCoin is doing well right now, showing a lot of strength. To be determined if this is going to continue momentum, but watch out for the 200-day EMA (exponential moving average) around here. $2.30ish would be a decent entry in the short term. I have a bag.” Source: Altcoin Sherpa/X PepeCoin is trading for $2.97 at time of writing, a gain of more than 27,000% since October 13th, 2023 when it was worth $0.01088. Next up, the analyst compares the price chart of Synapse (SYN), a protocol that aims to enable secure cross-chain communication, to the price chart of the smart contract platform Sui Network (SUI). He suggests SYN may be forming a similar SUI pattern and cou...