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

An expert analyst has observed similarities between an Ethereum rival and a popular memecoin that recently reached a new all-time high. Credible, a pseudonymous strategist, notes that the market structure of Near Protocol (NEAR) appears to resemble that of Pepe’s (PEPE), indicating a potential buying opportunity for NEAR. The analyst predicts a target price of $9 for NEAR, which currently sits at $7.03. However, while Credible is optimistic about NEAR, he warns that Pepe and larger altcoins may experience a significant correction as investors shift their focus to Bitcoin. Credible believes Bitcoin is currently in a reaccumulation phase, with a breakout to $100,000 on the horizon.