Trader Says Three Memecoins Loading for Next Leg Up, Updates Forecast on Solana and Two Additional Altcoins
dailyhodl.com 31 July 2024 00:12, UTC A popular crypto analyst and trader thinks a trio of memecoins including Pepe (PEPE) are gearing up for big breakout rallies.
Pseudonymous analyst Altcoin Sherpa tells his 219,100 followers on the social media platform X that Ethereum (ETH)-based altcoin PEPE and Solana (SOL)-based meme tokens dogwifhat (WIF) and Popcat (POPCAT) are threatening to take out their immediate resistance levels.
“Big-cap memes loading for the next leg up. PEPE, WIF, POPCAT.”
Based on the trader’s chart, he seems to suggest that PEPE will break out after soaring above resistance at $0.0000128. At time of writing, PEPE is worth $0.0000177.
Looking at WIF, the trader appears to suggest that the altcoin is approaching its diagonal resistance hovering at $2.50. WIF is trading at $2.33 at time of writing.
As for POPCAT, Altcoin Sherpa seems to suggest that the level to take out is $0.9389. POPCAT is trading for $0.7339 at time of writing.
The trader also notes that he’s bullish on the Ethereum competitor Solana.
“Only a few key levels before all-time high. Still think this is a good one for the next several months.”
At time of writing, Solana is worth $180.
Altcoin Sherpa is also optimistic about Core (CORE), a project designed to serve as a hyper-scalable complimentary smart contract platform to Bitcoin (BTC).
“I think this is going to be ok now. 200-day EMA (exponential moving average) tested, let’s go higher.”
At time of writing, CORE is trading for $1.32.
The trader is less bullish on the layer-1 project Toncoin (TON) in the medium term, though he says he still believes in the asset over the long run.
“One of the strongest coins on the market the last few months looks a bit iffy in the mid-term. Wondering if that $5 level (200-day EMA) is going to get tested in the coming weeks.
Still think TON has a lot of opportunity though this cycle and long-term bullish.”
At time of writing, TON is worth $6.62.
Generated Image: Midjourney
