A popular crypto trader believes a rival to Dogecoin (DOGE) could soon be heading for a breakout.
The pseudonymous analyst known as Altcoin Sherpa tells his 224,000 followers on social media platform climb to $3.50.
Despite a possible breakout, Altcoin Sherpa says he would not buy at WIF’s current level.
WIF is trading at $2.47 at the time of writing. The crypto asset ranked 42nd by market capitalization fell more than 7.6% in the last 24 hours.
The analyst also believes that the memecoin Popcat (POPCAT) could see a brief price rally.
“I wouldn’t be surprised to see some sort of parabolic blowout at $2 or something and then that thing dies for a while. All chat betas should follow the same pattern. I would NOT recommend buying most cat tokens at current levels; wait for a withdrawal if you can.
POPCAT is trading at $1.25 at the time of writing. The crypto asset ranked 67th by market capitalization is down more than 5% in the last 24 hours.
In terms of other assets, Altcoin Sherpa believes the Bittensor (TAO) machine learning market could be headed for a pullback despite looking strong in the long term.
“TAO still looks solid, but he’s getting closer to the danger zone and wouldn’t be surprised by a takedown. I still believe it goes well beyond the ATH (all-time high) later, given that it is currently the leader in AI (artificial intelligence). I’ve read some concerns about inflation, but the situation still looks pretty good to me in the medium term.
TAO is trading at $620.52 at the time of writing. The 28th largest crypto asset by market capitalization is up more than 1.5% in the past 24 hours.
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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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