A Crypto Analyst Warns of Potential Collapse for Dogecoin Rival
A popular crypto analyst has issued a warning that a rival of Dogecoin (DOGE) could experience a significant decline as the digital asset markets remain stagnant. The analyst, known as Kaleo, shares on Twitter that Pepe (PEPE) may drop by more than 50% from its current value. Kaleo uses an inverse chart to illustrate the potential decline, with Pepe falling from $0.000000787 to $0.000000390. Meanwhile, Kaleo predicts that Bitcoin Cash (BCH) will continue its downward trend as it tests a key support level at $191.21. Additionally, BCH is expected to experience a decline against Bitcoin (BTC). Kaleo believes that Bitcoin will remain volatile until a decisive bull cycle takes place in 2024-2025. He speculates that Bitcoin will dip to around $21,000 in September before rallying to $34,000 in early October.
Hot Take:
While the crypto markets may be stagnant, Kaleo’s warning serves as a reminder that even established assets can experience significant declines. Traders and investors should remain vigilant and stay informed about potential risks and market trends to make informed decisions.
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