One main crypto strategist thinks {that a} dog-themed Solana (SOL)-based memecoin is headed to a lot decrease costs.
In a brand new video, pseudonymous analyst Credible Crypto tells his 55,500 YouTube subscribers that dogwifhat (WIF) probably has not but fashioned a market backside.
“I do assume that we may see some type of a useless cat bounce right here, however I don’t fairly assume that the draw back is but finished.”
Taking a look at his chart, the dealer means that WIF may right to as little as $0.80 with value bounces alongside the way in which.
WIF is buying and selling for $1.60 at time of writing, up almost 3% within the final 24 hours.
Subsequent up, the analyst says memecoin Pepe (PEPE) might expertise a couple of 90% correction from its all-time excessive of $0.0000171.
“Clearly we’ve got a major space of help right here within the inexperienced zone [between $0.0000059 and $0.0000040] so we may even see some type of a bounce from there. However in the end the place I feel that is headed is decrease.”
Based mostly on the dealer’s chart, he seems to foretell that PEPE may plummet to as little as $0.00000185.
Pepe is buying and selling for $0.00000876 at time of writing.
Lastly, the analyst says that dog-themed memecoin Dogecoin (DOGE) might retest increased resistance ranges if Bitcoin begins to rally.
“Cash like DOGE may even see some reduction to the upside. You’ve hit our first draw back goal space of demand – logical place to see a bounce.
We in all probability see a bounce together with Bitcoin. After which we in all probability discover some resistance after which proceed to bleed as Bitcoin continues to pump. And that’s the place we get this type of extended bleed to the draw back…
Dogecoin: logical place to have an interest at $0.10. However there’s an opportunity that we will go decrease if this area is misplaced. We might definitely see a bounce right here.”
Taking a look at his chart, the analyst means that one doable situation is for DOGE to dip to round $0.084, retest resistance at round $0.15 and collapse to as little as $0.06.
DOGE is buying and selling for $0.108 at time of writing, up barely within the final 24 hours.
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