Analyst Says Altcoin That’s Exploded Over 6,400% in One Year ‘Still Looks Strong,’ Updates Outlook on Dogecoin
dailyhodl.com 14 September 2024 11:45, UTC A closely followed crypto strategist and trader says one red-hot real-world asset (RWA) project may have more upside potential.
Pseudonymous analyst Altcoin Sherpa tells his 222,700 followers on the social media platform X that MANTRA (OM) “still looks strong.”
“Consolidation in the previous range and now expansion; would be careful buying here personally and think we should see a pullback around $1.23 and $1.41. But still is one of the better RWA bets and I’ve got a bag.”
MANTRA is a crypto project that allows the tokenization and trading of real-world assets such as commercial properties.
OM is trading for $1.13 at time of writing, up 6,421% from its October 2023 price of $0.0176.
Next up, the analyst says he is flipping bullish on meme token Dogecoin (DOGE).
“To be determined if DOGE ever does insane numbers like 2021; my guess is not given the market cap. But it should still have a few x from here and is still one of the most liquid coins in crypto. $0.10 is a decent area to scale in given the one-week levels.”
DOGE is trading for $0.107 at time of writing, up 5.29% in the last 24 hours.
Lastly, the analyst suggests that Bitcoin (BTC) may retest the $45,000 level before breaking out later this year.
“BTC: we’re still in the range low areas on the one day, but I still personally view the $45,000 region as the area of interest. $50,000 has been tapped already and the one-day structure is still bearish to me. Not saying ‘it’s over’ but some sort of shakeout plus chop until late Q4 makes sense to me.”
Bitcoin is trading for $60,608 at time of writing, up 4.3% in the last 24 hours.
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