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Altcoin Sherpa Updates Crypto Outlook: Memecoin Will Collapse, Sui Network and ARB in Focus

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Bitcoin and Ethereum have been the stars of the cryptocurrency market for years, but the landscape is constantly changing with the emergence of new players like the Sui Network. Altcoin Sherpa, a popular crypto strategist, has been watching the market and has some interesting insights to share.

In a recent update, Altcoin Sherpa warned its 195,100 Twitter followers that memecoin, like Pepe, is likely to collapse. He advises traders to be careful with these tokens, which he considers a short-lived casino game. While Pepe and other memecoins may be popular, Altcoin Sherpa believes they will eventually become zero.

Altcoin Sherpa has also updated its views on Bitcoin, trading sideways for the last few months. According to the chart, Bitcoin has bounced between $25,000 and $30,000 over the past 48 days. Altcoin Sherpa believes this choppy environment has made it harder for traders to turn a profit. However, he also reminded traders to know themselves and their trading strategy to be successful.

Altcoin Sherpa has also been eyeing the new Sui Network (SUI) blockchain layer-1. Based on Fibonacci retracement levels, Altcoin Sherpa predicts that SUI will return to the lower range at $1.29. However, he also warned that if Bitcoin drops, the SUI could drop to $1.24. Despite this downside potential, Altcoin Sherpa sees SUI in an accumulation phase as long as Bitcoin remains stable.

Finally, Altcoin Sherpa has looked at Arbitrum (ARB), a layer-2 scaling solution. While he still sees ARB as a great network, he predicts that it will dip even lower in the coming weeks. Looking at multiple Exponential Moving Averages (EMAs) and Fibonacci retracement levels, Altcoin Sherpa believes that ARB could fall into the $1.15-$1.20 range.

As the cryptocurrency market develops, traders need to stay abreast of the latest trends and insights. While Bitcoin and Ethereum remain popular choices, new players such as Sui Network and Arbitrum are emerging. As Altcoin Sherpa suggests, traders need to stay alert and know their strategy to succeed in this changing market.

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