Trader Says One Large-Cap Memecoin Primed To Go Up by Over 275% in Months, Updates Outlook on Bitcoin and XRP
dailyhodl.com 27 July 2024 10:15, UTC A widely followed cryptocurrency analyst is saying he’s bullish on a leading memecoin as he shares his outlook on two other digital assets.
Pseudonymous trader Altcoin Sherpa tells his 219,000 followers on the social media platform X that over the next six to 12 months, Dogecoin (DOGE) could hit a price of over $0.50, representing a potential gain of more than 275% from the current level.
“DOGE is a great coin to have but the returns aren’t going to be near the same as last cycle due to the market capitalization. Still, it’s a good one if you have huge size and still want to capture *some* of the meme mania.”
At time of writing, DOGE is trading at $0.133.
Next up is Bitcoin (BTC). According to the trader, Bitcoin “looks strong” after retesting resistance at around $65,000 into support.
“After that reaction, I think we go test the $70,000s.”
Bitcoin is trading at $67,730 at time of writing.
Turning to the payment protocol XRP, Altcoin Sherpa thinks the altcoin is bullish after rising above its resistance at $0.58.
“XRP looks pretty strong to be honest.”
Based on the trader’s chart, he seems to suggest that the next resistance level for XRP stands at $0.75.
XRP is trading at $0.597 at time of writing.
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