Investors have become largely pessimistic after the recent crypto crash, leading to talks of a potential drop in Bitcoin’s value to $50,000. However, a few experts are suggesting that this may actually be the perfect time to buy the dip. They highlight that the overall market trend remains bullish and pull-backs are a normal part of the process.
One such expert is popular crypto trader @sassal0x, who co-hosts the Into The Ether podcast and has a significant following of over 250,000 people. He predicts that Ethereum (ETH) will reach a new all-time high in August. According to data from CoinGecko, ETH’s current all-time high stands at $4,878. This means that he expects the price of Ethereum to rally by over 55% in just one month.
Furthermore, experts are also backing Ethereum meme coins to experience significant growth. They believe that coins like Pepe, FLOKI, and new presale coins could deliver outsized returns.
The Ethereum price has seen a decline of nearly 20% over the past month and is currently trading at $3,160. However, there may be a turnaround in July. The spot Ethereum ETFs are expected to begin trading by mid-July. Bitwise, one of the approved issuers, has filed their revised S-1 form to the SEC’s Division of Corporate Finance. Bloomberg analyst James Seyffart predicts that the ETFs could start trading within the next two weeks.
While the institutional demand for Ethereum may be less than that of Bitcoin, the ETF inflows are still expected to have a bullish impact on the ETH price. Additionally, the ETH/BTC trading pair could bring positive news for Ethereum. Bitcoin is currently facing a significant positive supply shock, with Mt.Gox and the US and German governments actively selling their holdings. With the upcoming ETH ETF inflows and the positive supply shock on Bitcoin, the ETH/BTC trading pair could experience a major rally. Currently trading at 0.053, a breakout above 0.06 could result in the Ethereum price soaring to new all-time highs.
In addition to the overall positive outlook for Ethereum, meme coins based on the ETH blockchain are also expected to experience explosive growth. Pepe and Floki are anticipated to reach new all-time highs, and Brett, the top meme coin on Base, is also being closely watched for potential skyrocketing. Presale tokens are in high demand, with Base Dawgz being hyped up as the next big token on Base. It has already raised over $2.3 million in its presale and has launched its own staking program.
Pepe Unchained, another ERC-20 meme coin, is also generating bullish sentiments among analysts. It may emerge as the best alternative to Pepe due to its Layer-2 blockchain. The coin has already raised over $2 million in its ICO, thanks to its low trading costs and high staking rewards. The Pepe Unchained staking protocol is currently offering an APY of over 800%. Crypto influencers believe that it has the potential to deliver 10x returns after launch, thanks to its unique value proposition.
