A well-known cryptocurrency analyst believes that an altcoin focused on artificial intelligence (AI) is showing strength, while also sharing insights on the decentralized finance (DeFi) platform Injective (
INJ
) and the memecoin Pepe (
PEPE
).
In a recent
video update
, crypto trader Jason Pizzino, with a following of 328,000 YouTube subscribers, notes that while the blockchain Render (
RNDR
) is performing well against the US dollar, there may still be a potential price dip.
“Render against USD has shown some positive movement — forming a higher low. Even if there is a breakdown, it remains in a relatively strong position compared to other cryptocurrencies.”
At the time of writing, Render is trading at $8.44, marking a 9.16% decrease in the past 24 hours.
Shifting focus to the layer-1 blockchain Injective, Pizzino mentions that he is anticipating a possible adjustment against the leading cryptocurrency Bitcoin (
BTC
).
“Injective is showing interesting signs… I’m observing a potential reset here. For confirmation, I would keep an eye out for movement above the 50% level on the INJ/BTC chart, with the invalidation point set below the recent lows.”
As of the latest update, INJ is priced at $30.55, reflecting a 6% decline for the day.
Wrapping up his analysis with the popular meme asset Pepe, Pizzino notes that this frog-themed token is demonstrating strength when compared to other memecoins.
“Another strong contender is the meme coin Pepe. Despite some fluctuations, it has shown an upward trend following the pump and dumps seen in other cryptos. This recent breakout could signal further strength.”
At the time of writing, PEPE is trading at $0.000012, showing a 12% drop in the past 24 hours.
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