Crypto analyst DonAlt, known for his accurate predictions, warns his followers about an altcoin that is expected to drop sharply in his current analysis.
“This altcoin will crash and its price will return to 0”
DonAlt, a crypto analyst with 500,000 followers, said that the meme coin Pepe (PEPE), which rivals Dogecoin and Shiba Inu, is heading towards complete collapse. The popular analyst warns that the meme coin will eventually run out of value. However, he noted that Pepe is a speculative token and investors should be careful.
The hit analyst warns that although Pepe has risen 2400% over the past few weeks, it will hit zero in the next three to five years. According to DonAlt, the meme coin is likely to experience a sharp drop. So there will be nothing left for the initial investments.
Where does PEPE go next? pic.twitter.com/Gs137d95EN
— DonAlt (@CryptoDonAlt) May 11, 2023
For the analyst’s accurate predictions, you can check out this article of Kriptokoin.com.
Why is the price of PEPE falling?
Others share similar sentiments that meme coins like PEPE are just an exaggeration. Most analysts believe that these coins will eventually drop to “zero” due to their vulnerability to global crises. Many also see them as a distraction from Bitcoin.
Although PEPE provides profits of up to 5807.64% to early investors, it does not bear any basis for the long run. Meme coin achieved its entire rally with exchange listings. Pepe’s enthusiasm led to overvaluation following Binance’s listing. However, many were not convinced and abandoned. Currently, PEPE is recording over 30% correction over the past two days.
Bitcoin’s fall puts more pressure on altcoin market
Pepe Coin wasn’t the only altcoin DonAlt had his eye on. The analyst also predicts that Bitcoin will continue to decline in the short term. In his current analysis, he also weighed in on the future price of Bitcoin. DonAlt interprets the US government’s pressure on the market as one of the main factors affecting the value of BTC.
He is also still optimistic about Bitcoin’s potential. However, he plans to reinvest once the anti-crypto crackdown is over. In the new tweet, he said, “At $16,000, we were so deep that all hell would break loose and we wouldn’t even blink. However, at $30,000, things change,” he wrote.
At $16k we were so undervalued, anything could've happened and we would've barely budged
At $30k that's a different storyI feel like people forgot that the US gov is actively trying to kill this space.
I'll personally give them some time to fail and then I'll buy the coins
— DonAlt (@CryptoDonAlt) May 10, 2023
Amid DonAlt’s warnings, Pepe’s price is down 22% from the last 24 hours. Its price is currently trading in the $0.00000127 region. Meanwhile, Bitcoin is trading at $26,425.57, down 3.85% over the same period. Reflecting a similar sentiment, BTC is also falling sharply.
Bitcoin loses $27,000: It’s in a steep decline
Bitcoin first dropped to $26,160 on May 12. With the downward momentum, it reached the lowest level since March 17. Prices have fallen more than 12% since May 6, leaving the rise in traditional risky assets like the Nasdaq.
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