Memecoins
Solana-based Memecoin, which has exploded over 22,000% year-to-date, remains bullish, crypto analyst says
A widely followed cryptocurrency analyst and trader offers his take on a relatively new memecoin built on Solana (GROUND) blockchain.
The analyst known by the pseudonym Altcoin Sherpa tell His 218,500 followers on social media platform X say he is “always optimistic” on Popcat (POPCAT).
According to the pseudonymous analyst, cat-oriented memecoins will “do quite well and catch up” in the future.
Altcoin Sherpa, however, claims that if POPCAT forms a head and shoulders pattern on the four-hour chart, the memecoin could end up plunging lower. A head and shoulders pattern is generally considered a bearish reversal pattern in technical analysis.
“If this happens and Popcat is sold, all the beta cats will die.”
Source: Altcoin Sherpa/X
At the time of writing, POPCAT is trading at $0.871, up 22,881% from its January 5 low of $0.00379.
The pseudonymous analyst also gives his opinion on Dogecoin (DOGE). According to For the pseudonymous analyst, the leading memecoin by market cap may have bottomed out and could now be positioning itself for a consolidation phase after a pullback before a “stronger bullish move.”
Source: Altcoin Sherpa/X
Dogecoin is trading at $0.133 at the time of writing.
The next one is Ethereum (ETH). According to Altcoin Sherpa, the second-largest crypto asset, could see increased volatility following the approval of Ethereum spot exchange-traded funds (ETFs) in the United States. The pseudonymous analyst adds that Ethereum’s support level at around $3,350 offers a potential entry opportunity for a long position.
Source: Altcoin Sherpa/X
Ethereum is trading at $3,445 at the time of writing.
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