Altcoins
Analyst Says Top Memecoin Will Do Big Numbers This Year, Updates Forecast on BNB and Two Other Altcoins
A closely followed crypto analyst believes that a top memecoin could generate big gains later this year.
Pseudonymous crypto trader Altcoin Sherpa tell his 217,100 followers on social media platform X that he is long-term bullish on Dogecoin (DOGE).
“DOGE: Many memes look unstable in the short term, but I still think they look pretty good on long-term charts. However, expecting more chop for the next leg, I wouldn’t rush to buy new positions here. Patience. I still think it will do big numbers later this year.
Source: Altcoin Sherpa/X
Looking at his chart, the analyst suggests that DOGE could trade around a range with a low limit of $0.12 and a high limit of $0.17 before breaking out later in 2024.
DOGE is trading at $0.13 at the time of writing, down more than 4% in the last 24 hours.
Then the analyst warns that Ondo Finance (ONDO), a project focused on tokenizing real-world assets (RWA), could retest lower levels in the near term.
“ONDO: I was wrong in consolidating for another stage, I was not ready. I think this one will likely trade up to the $1.10 level before the next bounce (this should be small at $1.19 at first). However, I remain optimistic from an RWA (real world asset) perspective.
Source: Altcoin Sherpa/X
ONDO is trading at $1.22 at the time of writing, down 1.4% in the last 24 hours.
Then the analyst believes this BNB (BNB), the utility token of the BNB Chain ecosystem, could return to Fibonacci levels before resuming an uptrend. Major downside price targets include $600.
“BNB: half, hoping inflows are lower. »
Source: Altcoin Sherpa/X
BNB is trading at $609 at the time of writing, down almost 6% in the last 24 hours.
Finally, the analyst suggests this Internet of Things (IoT) project Jasmy (JASMY) may have more upside potential if it holds $0.0377 as support.
“JASMY never bought this shitcoin but it still looks pretty solid. Weird.”
Source: Altcoin Sherpa/X
JASMY is trading at $0.0357 at the time of writing, down almost 6% in the last 24 hours.
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