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Shiba Inu PEPE

Crypto Analyst Predicts Big Moves For Shiba Inu And PEPE, Here’s The Trigger

Scott Matherson
by Scott Matherson
1 year ago
·
Posted in PEPE, Shiba Inu
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The prices of Shiba Inu and PEPE, although there has been movement in both of these assets, have not performed as well as expected. This could be attributed to the muted performance that Ethereum, the parent network of both assets, have put on recently, and thus, they have followed in its footsteps. However, as Ethereum begins to see better upside, things could change for both of these assets according to one analyst.

Watch Out For Shiba Inu As Ethereum Begins To Break Out

Ethereum has started moving up again and is currently trading above $2,400 at the time of this writing. Naturally, crypto investors expect its ecosystem tokens to follow the same path, and one of those is Shiba Inu, as pseudonymous crypto analyst Crypto Kaleo explains.

Related Reading: XRP Detractor Switches To Buy Mode, What Changed?

Taking to X (formerly Twitter), the analyst shares their expectations for the Shiba Inu price going forward. Crypto Kaleo warns investors to keep an eye out for the Shiba Inu price especially as Ethereum begins another uptrend.

The crypto analyst expects good movement in price, possibly something that could rival its 2021 movement. Kaleo points out that the SHIB price is currently still trading in a base range of $0.00001, and this is a level that the price has maintained for almost one week now.

Given that the crypto’s price has stayed in this range for so long, Kaleo expects a good thing if the price is able to break out of this range. “Wouldn’t be surprised if we see another god candle similar to October ’21 when it finally breaks out of this base range,” Kaleo said.

Also a reminder to not sleep on $SHIB as $ETH starts to break out.

Wouldn’t be surprised if we see another god candle similar to October ’21 when it finally breaks out of this base range. pic.twitter.com/jRYYW6gcjq

— K A L E O (@CryptoKaleo) December 28, 2023

Shiba Inu price chart from Tradingview.com (Meme coins Ethereum PEPE)

SHIB price above $0.00001 | Source: SHIBUSD on Tradingview.com

PEPE Expected To Follow The Same Path

As the Ethereum price recovers, Shiba Inu is not the only cryptocurrency that is expected to do well. Another coin that the crypto analyst points out is poised for good things during this time as well is the PEPE meme coin.

PEPE has also been on a rather slow path over the last few months despite the fact that the Bitcoin price has been going up. There have been more dips than pumps, but Kaleo expects that this could change quickly as the pump commences.

Related Reading: Shiba Inu Marketing Lead Reveals What’s Coming For SHIB In 2024

Kaleo compared the expected movement to what happened with Solana (SOL) and BONK. The BONK price had risen drastically as the SOL price pumped. In the same vein, the crypto analyst expects the meme coin to reach a new all-time high as the Ethereum price begins to move as well.

“It’ll be one of the most obvious hindsight trades out there when it happens,” Kaleo explains.

The same way $BONK printed new ATHs vs $SOL when it broke out, I see $PEPE printing new ATHs vs $ETH as it starts to move.

It’ll be one of the most obvious hindsight trades out there when it happens. pic.twitter.com/cvSPd9bxSt

— K A L E O (@CryptoKaleo) December 27, 2023

Featured image from CoinMarketCap, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Scott Matherson

Scott Matherson

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

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