Trader Says Dogecoin and Shiba Inu Rival Mirroring 2024 Pattern That Led to 370%+ Surge, Predicts 2x Rally

A widely followed crypto analyst and trader is leaning bullish on a mid-cap Dogecoin (DOGE) and Shiba Inu (SHIB) competitor.

Pseudonymous analyst Altcoin Sherpa tells his 244,900 followers on the social media platform X that Pepe (PEPE) memecoin is primed to go up by around 100% after undergoing consolidation and accumulation in a manner similar to 2024.

“PEPE also went through a three-month accumulation/consolidation cycle in the late third quarter of 2024 and then had another run in December. It’s currently in the same exact region in the same consolidation. I expect PEPE to do a 2x or something from the bottom at a minimum.”

PEPE is trading at $0.00000884 at time of writing, up by around 23% over the past seven days.

On what has replaced the altcoin seasons, the widely followed analyst says,

“There are no more altcoin seasons, get that framing out of your head for now. Instead, you have one to three months of good times and then two to six months of bad times/chop.”

Over the near term, the pseudonymous analyst says that Bitcoin staying above a key psychological support level represents bullish opportunities for altcoins.

“These are dip-buying opportunities in my opinion. BTC is above $90,000 and the entire environment’s looking a lot better; don’t s**t yourself when altcoins take that first 20% dip. Look to scale in the next few days if we see more red, don’t be scared.”

Generated Image: Midjourney