Altcoins
Trader Calls Memecoin One of the Strongest Altcoins, Updates His Outlook on Dogecoin and Three Other Crypto Assets
Widely followed crypto strategist declares a Dogecoin (DOGE) challenger is well ahead of its fellow altcoins.
Pseudonymous analyst Cred tells his 624,100 followers on social media platformPEPE).
According to the crypto strategist, PEPE is leading the pack of altcoins in terms of market structure as memecoin approaches its all-time high, even after last month’s market-wide correction.
“PEPE: one of the most powerful alts, ahead of several others due to the breakdown of its high range (against Bonk and Doge, who are still technically testing their respective resistances).”
Source: Credit/X
At the time of writing, PEPE stands at $0.00000865, less than 20% of its all-time high of $0.0000106.
Looking at Dogecoin, Cred says DOGE will likely lose strength if it retests its immediate support at $0.147.
“One of those cases where hitting the best support would make the chart pretty ugly, so the options are to hope for a short time frame/shallow pullbacks, or a breakout continuation.”
At the time of writing, DOGE is worth $0.162, very close to the next analyst breakout level.
As for his fellow memecoin Bonk (BONK), Cred says the altcoin looks bullish as long as it trades above its midpoint at $0.000025.
“Strong from the lows, to the highs of the local range. Shallow takedown and/or escape punts are preferred. Tracing the recovery back to the lowest level would be a difficult task.
At the time of writing, BONK is trading at $0.0000262.
The last coin on the trader’s list is dogwifhat (Wireless). According to the analyst, WIF is in the middle of a new uptrend with invalidation below $3.
“Assuming the one-day close is not breached, this move would mean a higher daily high + a return to the old range.
The same area would serve as the cutoff line for bias, i.e. below $3.
At the time of writing, WIF is worth $3.37.
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