Analyst Says Ethereum Rival Mirroring Memecoin That Just Printed New All-Time High, Updates Outlook on Altcoins

Analyst Says Ethereum Rival Mirroring Memecoin That Just Printed New All-Time High, Updates Outlook on Altcoins


A crypto strategist thinks that an Ethereum (ETH) challenger is following in the footsteps of a red-hot memecoin that just hit a fresh record high.

Pseudonymous analyst Credible tells his 393,500 followers on the social media platform X that the market structure of layer-1 protocol Near (NEAR) looks similar to Pepe’s (PEPE), a memecoin that printed a new all-time high in the last 24 hours.

“Looks identical to PEPE and with my expectation of some relief across the board here I think dips are for buying, targeting the highs.

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I’m long as of last night.” 

Source: Credible/X

Looking at the trader’s chart, he seems to be targeting $9 for NEAR with invalidation at $5.72. At time of writing, NEAR is trading for $7.03, suggesting an

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