A widely followed crypto analyst is warning that a Dogecoin (DOGE) rival could suddenly collapse as digital asset markets stagnate.
Pseudonymous analyst Kaleo tells its 596,300 Twitter followers that Pepe (PEPE) could decrease by more than 50% from its current value.
The trader uses an inverse chart, which shows that Pepe could suddenly drop in value from $0.000000787, at the time of writing, to $0.000000390.
“I am so optimistic about PEPE here. It looks like it’s broken out and should easily lead it back to the highs. Send it urgently.”
Then the trader say Bitcoin Cash (BCH) is likely to continue falling in a downtrend as it retests a key support level at $191.21.
“BCH looks damn tough after last week’s full pump backlash. Send it lower.”
The trader too to predict Bitcoin Cash will continue in a descending triangle against Bitcoin (BTC).
“BCH/BTC looking for something like that.”
His chart suggests that BCH/BTC will fall to 0.00610 BTC ($157.76) within a few days. At the time of writing, BCH/BTC is trading at 0.00745 BTC ($193).
Kaleo also weighs in on Bitcoin. He predicts the crypto king will experience volatility until a decisive bull cycle kicks off sometime in 2024-2025.
“Everything that happens at the end of the year is just noise to wake you up before the real fun starts in 2024/2025.”
He speculates that Bitcoin will fall to around $21,000 in September, rise to $34,000 in early October, and test $30,000 again later that month.
He bases his prediction partly about how Bitcoin on average performs poorly in September and stronger in October.
“Bad Septembers lead to good October-Novembers.”
Bitcoin is trading at $25,912 at the time of writing, down 1% in the past 24 hours.
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Generated image: Midjourney
