An anonymous crypto strategist, known as Cred, has shared his positive outlook on the memecoin Pepe (PEPE), stating that it is leading the pack of altcoins in terms of market structure. Despite the recent market correction, PEPE is approaching its all-time high, which has caught the attention of Cred’s 624,100 followers on X.

Cred believes that Pepe is one of the strongest altcoins, surpassing other competitors like Bonk and Doge, as it has broken its range high. Currently, PEPE is valued at $0.00000865, just 20% below its all-time high of $0.0000106.

When it comes to Dogecoin (DOGE), Cred suggests that it may lose momentum if it tests its immediate support at $0.147. He explains that reaching this support level could negatively impact DOGE’s chart, so the options are to hope for small pullbacks or to chase a breakout. At the time of writing, DOGE is valued at $0.162, very close to the next breakout level identified by Cred.

Moving on to Bonk (BONK), another memecoin, Cred believes that it looks bullish as long as it remains above its range midpoint at $0.000025. He advises that shallow pullbacks or breakout punts are preferable. Retracing back to the range low would not be a favorable outcome. Currently, BONK is trading at $0.0000262.

Lastly, Cred mentions dogwifhat (WIF), stating that it is in the midst of a new uptrend with invalidation below $3. If the one-day close remains strong, it would indicate a higher high on the daily time frame and a return to the previous range. The $3 mark acts as a line in the sand for bias. At present, WIF is valued at $3.37.

It is important to note that the opinions expressed by Cred are not investment advice, and investors should conduct their own research before making any high-risk investments in cryptocurrencies. The Daily Hodl, where this information was sourced, does not endorse the buying or selling of any digital assets and is not an investment advisor.