Altcoins
Crypto Trader Says Solana-Based Altcoin Poised to Fall Further, Outlines Future Path for Pepe and Dogecoin
A leading cryptocurrency strategist thinks a dog-themed Solana (SOL)-based is intended for much lower prices.
In a new video, pseudonymous analyst Credible Crypto tells his 55,500 YouTube subscribers that dogwifhat (Wife) has probably not yet formed a market bottom.
“I think we may see a bit of a dead cat bounce, but I don’t think the downside is over yet.”
Source: Credible Crypto/YouTube
Looking at the chart, the trader hypothesizes that WIF could correct to a low of $0.80, with price bounces along the way.
At the time of writing, WIF is trading at $1.60, up nearly 3% in the last 24 hours.
Next, the analyst says that memecoin Pepe (PEPPER) could see a correction of around 90% from its all-time high of $0.0000171.
“We obviously have a significant support area here in the green zone. [between $0.0000059 and $0.0000040] so we could see some sort of bounce from there. But ultimately I think the direction is lower.”
Source: Credible Crypto/YouTube
Based on the chart, the trader seems to predict that PEPE could drop to $0.00000185.
At the time of writing, Pepe is trading at $0.00000876.
Finally, the analyst says that the dog-themed memecoin Dogecoin (DOGE) could retest higher resistance levels if Bitcoin starts to recover.
“Coins like DOGE could see some relief on the upside. You have reached our first downside demand target area, the logical place to see a bounce.
We’re probably going to see a bounce along with Bitcoin. And then we’re probably going to find some resistance and then we’re going to continue to bleed as Bitcoin continues to pump. And that’s where we get this kind of prolonged bleeding to the downside…
Dogecoin: Logical place to be interested at $0.10. But there is a possibility that we can go further down if this region is lost. We could definitely see a bounce here.”
Source: Credible Crypto/YouTube
Looking at the chart, the analyst suggests that one possible scenario is for DOGE to drop to around $0.084, retest the resistance around $0.15, and crash to $0.06.
At the time of writing, DOGE is trading at $0.108, up slightly over the last 24 hours.
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