Trader Calls Memecoin One of Strongest Altcoins, Updates Outlook on Dogecoin and Three Other Crypto Assets
A broadly adopted crypto strategist says one Dogecoin (DOGE) challenger is manner forward of its fellow altcoins.
Pseudonymous analyst Cred tells his 624,100 followers on the social media platform X that he’s bullish on the frog-themed memecoin Pepe (PEPE).
In line with the crypto strategist, PEPE is main the altcoin pack in phrases of market construction because the memecoin strikes near its all-time excessive even after final month’s marketwide correction.
“PEPE: one of the strongest alts, ahead of several of the others by virtue of breaking its range high (vs. Bonk and Doge, which are still technically testing their respective resistances).”
At time of writing, PEPE is $0.00000865, lower than 20% away from its all-time excessive of $0.0000106.
Dogecoin, Cred says that DOGE will seemingly lose steam if it retests its quick help at $0.147.
“One of those instances where reaching the best support would make the chart look quite ugly, so options are to hope for low time frame/shallow pullbacks, or breakout chase.”
At time of writing, DOGE is value $0.162, very near the analyst’s subsequent breakout degree.
As for fellow memecoin Bonk (BONK), Cred says the altcoin appears bullish so long as it trades above its vary midpoint at $0.000025.
“Strong off the lows, at local range high. Shallow pullback and/or breakout punts preferable. Retracing the reclaim back to the range low would be a tough look.”
At time of writing, BONK is buying and selling at $0.0000262.
The final coin on the dealer’s record is dogwifhat (WIF). In line with the analyst, WIF is within the midst of a brand new uptrend with invalidation beneath $3.
“Assuming one-day shut doesn’t get stuffed, this transfer would signify a day by day timeframe increased excessive + transfer again into the previous vary.
Identical space would act as line within the sand for bias i.e. sub $3.”
At time of writing, WIF is value $3.37.
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