Popular analyst Altcoin Sherpa took to his Twitter account on Thursday and warned traders who are currently collecting PEPE coins. The analyst explained that the price increases will be short-lived and advised traders not to lose their money. Instead, he told his followers to buy Ethereum and wait for the bull run.
He said PEPE will likely survive and not go the way of other “shitcoins” like Safemoon and BONK, because of its relatable and easily relatable meme. However, it remains to be seen if it will have the same strength and popularity as other successful coins like SHIB that have appeared in the past.
In his opinion, PEPE will be around for a while, especially given the high volume it’s seen in recent weeks. It is possible that larger exchanges offer it, but personally he wouldn’t buy it at the current high price. He said that if someone decides to buy, he thinks it’s best to scalp for small profits rather than expecting huge returns like a 20 million MC.
“As I said last night, PEPE offshoots will do well in the near term. Pepe type coins/assets will do several x and pump hard, but this will be short lived and very few (if any) will survive. Most go to $0 and are also scams. Be careful.”
On the other hand, shorting PEPE or similar coins like XRP and DOGE is extremely risky as they tend to gain momentum quickly and are difficult to predict.
“How sucks would it be for you to lose your stack while chasing meme coins before the bull run really started? The more sustainable way to make $ for most investors is to just buy $ETH at these levels and just hold it. Don’t try to get rich quick. You will probably lose your $. GL.”
