Pepe is the most popular meme coin to launch this cycle, yet it has declined 55% in the past six months.
Pepe price predictions point to brighter times ahead, but will new alternatives like Snorter outperform it?
BlackRock’s $ETH Appetite Could Bolster Pepe Price
As the top Ethereum-based meme coin by trading volume, Pepe acts as a beta proxy on the performance of Ethereum. It mimics $ETH’s price moves but with greater volatility.
While Ethereum has decreased 32% since December, Pepe is down almost double that.
Obviously, this is bad news in bearish periods, but good news in bullish ones. So, are we heading into a bullish or bearish period for Ethereum?
The easiest way to determine that is by watching what smart money is doing. Based on smart money actions, it appears that Ethereum is poised for a boom.
Arkham Intelligence noted that BlackRock has been purchasing Ethereum every day for over two weeks through its spot Ethereum ETF.
According to an X account that goes by Web3 Vibes, the asset manager has accumulated $570 million worth of $ETH during this buying spree.
Meanwhile, analyst Mister Crypto noticed a “money rotation” from Bitcoin to Ethereum.
The Bitcoin price is largely influenced by deep-pocketed whales, so the fact that Ethereum is outperforming Bitcoin is another indication that smart money is optimistic on $ETH right now.
Crypto whales like BlackRock have the resources to predict market moves more accurately. Their rising interest in $ETH signifies that the asset could begin outperforming the market, and if that happens, it means Pepe is poised for substantial returns.
Top Trader Tips Pepe to Flip Dogecoin
As to how far Pepe could go, leading analysts believe it’s on track to smash its current all-time high (ATH).
According to prominent analyst Lyx (27K X followers), Pepe is poised for an uptrend to a $70 billion market capitalization, representing a 13.3x increase from its current valuation. That would take its price to $0.000165319.
Lyx suggests that Pepe has been in a “long consolidation,” and that this was “necessary in order to flip Dogecoin.”
Currently, Dogecoin holds a $28 billion market cap, so Pepe would far surpass it if it reaches the forecasted price tag.
While not quite as optimistic, Whale Insider suggests that Pepe is primed for a breakout to a $25 billion market cap, which would take its price to $0.0000593.
The analyst suggests that it’s nearing “an imminent breakout” with the $25 billion price target based on historical chart patterns.
With smart money showing interest in Ethereum, and the Pepe price chart showing signs of a breakout, it appears that everything is in place for its price to rally in the weeks ahead.
Indeed, the $25 billion market cap target is more achievable, but it’s certainly not impossible for Pepe to hit $70 billion this year.
It’s not just the most popular meme coin on Ethereum; Pepe is also the largest meme coin to launch this cycle. New liquidity that enters the meme coin market may therefore favor Pepe over Dogecoin due to its novelty and freshness.
But while Pepe is poised for gains, it’s no secret that newer under-the-radar projects can outperform. This comes back to novelty and also their lower valuations.
And right now, analysts are tipping Snorter as one project that could outpace majors like Pepe and Dogecoin.
New Trading Bot Snorter Tipped For 100X ROI as Presale Crosses $650K
Snorter isn’t your average meme coin; it’s a multichain trading bot with memetic branding.
The project is raising funds for development via a token presale, in which it has raised $650K so far.
Snorter offers the most competitive trading fees on the market at just 0.85%. Bonk Bot, Maestro, Banana Gun, and the rest charge 1%. Snorter’s lower fees are putting money into the pockets of its users.
But that’s not the only benefit. The Snorter bot boasts several powerful features. These include automated token sniping, copy trading, rug-pull detection, and dynamic stop-losses.
It’s built on the Telegram app and also offers advanced charting directly from the terminal. On-chain trading has never been easier.
The project is undergoing a presale and has raised $650K so far. This has grabbed the attention of top traders. For instance, Jacob Bury told 99Bitcoins’ 700K YouTube subscribers that $SNORT is “the best crypto to buy now” and that it holds 100x potential.
The $SNORT token offers access to governance, staking, and trading fee discounts.
With a promising use case, analyst support, and innate token utility, Snorter looks primed to explode in the months ahead.
This article is for informational purposes only and does not provide financial advice. Cryptocurrencies are highly volatile, and the market can be unpredictable. Always perform thorough research before making any cryptocurrency-related decisions.