A crypto strategist thinks that an Ethereum (ETH<\/a>) challenger is following in the footsteps of a red-hot memecoin that just hit a fresh record high.<\/p>\n Pseudonymous analyst Credible tells his 393,500 followers on the social media platform X that the market structure of layer-1 protocol Near (NEAR<\/a>) looks similar to Pepe\u2019s (PEPE<\/a>), a memecoin that printed a new all-time high in the last 24 hours.<\/p>\n \u201cLooks identical to PEPE and with my expectation of some relief across the board here I think dips are for buying, targeting the highs.<\/em><\/p>\n I\u2019m long as of last night.\u201d\u00a0<\/em><\/p>\n Looking at the trader\u2019s 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 upside potential of nearly 30% if the altcoin hits Credible\u2019s target.<\/p>\n But while Credible is bullish on NEAR, he says<\/a> his sentiment does not extend to Pepe and large-cap altcoins. The analyst says that Pepe and major altcoins are inching toward a big corrective move as he believes market participants are rotating their capital to ride the next burst to the upside for Bitcoin (BTC<\/a>).<\/p>\n \u201cPepe and major alts = in a ranging environment which I believe is a distribution top ultimately leading to breakdowns.<\/em><\/p>\n Bitcoin = in a ranging environment which I believe is a reaccumulation range ultimately leading to a breakout to $100,000.\u201d\u00a0<\/em><\/p>\n At time of writing, Bitcoin is worth $61,655.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>   Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" 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\u2019s (PEPE), a memecoin that […]<\/p>\n","protected":false},"author":2,"featured_media":302933,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-302931","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/302931","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=302931"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/302931\/revisions"}],"predecessor-version":[{"id":302935,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/302931\/revisions\/302935"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/302933"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=302931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=302931"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=302931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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