Altcoins
Cryptocurrency trader says Solana-based altcoin is poised for further plunge, outlines path ahead for Pepe and Dogecoin
A prominent cryptocurrency strategist believes that a dog-themed Solana (GROUNDThe memecoin based on ) is heading towards much lower prices.
In a new video, pseudonymous analyst Credible Crypto tell his 55,500 YouTube subscribers who dogwifhat (Wireless) has probably not yet reached the market floor.
“I think we might see some kind of dead cat twist here, but I don’t think the flip side is over.”
Source: Credible Crypto/YouTube
Looking at his chart, the trader suggests that WIF could correct to $0.80 with price bounces along the way.
WIF is trading at $1.60 at the time of writing, up nearly 3% in the past 24 hours.
Then the analyst says that the memecoin Pepe (PEPE) 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 rebound from there. But ultimately, I think it’s going to continue to go down.”
Source: Credible Crypto/YouTube
Based on the trader’s chart, he seems to predict that PEPE could drop as low as $0.00000185.
Pepe is trading at $0.00000876 at the time of writing.
Finally, the analyst claims that the dog-themed memecoin Dogecoin (DOGE) could retest higher resistance levels if Bitcoin starts to recover.
“Cryptocurrencies like DOGE could see some relief to the upside. You have reached our first target zone of downside demand – a logical place to see a bounce.
We’ll probably see a bounce with Bitcoin. And then we’ll probably find some resistance and then continue to bleed as Bitcoin continues to surge. And that’s where we get this kind of prolonged bleeding to the downside…
Dogecoin: A logical place to be interested at $0.10. But there is a chance we could go lower if this region is lost. We could definitely see a bounce here.
Source: Credible Crypto/YouTube
Looking at his chart, the analyst suggests that a possible scenario would be for DOGE to drop to around $0.084, retest resistance at around $0.15, and crash all the way to $0.06.
DOGE is trading at $0.108 at the time of writing, up slightly over the past 24 hours.
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