Altcoin Sherpa, a well-known crypto trader, has recently shared insights on potential breakouts in the crypto market. According to the analyst, one Dogecoin (DOGE) rival, dogwifhat (WIF), based on the Solana (SOL) blockchain, could be on the verge of a breakout. Altcoin Sherpa believes that if WIF manages to break above the $2.845 range, it could potentially surge towards $3.50 in the near future. However, despite the potential for a breakout, the analyst advises against buying WIF at its current level.
WIF is currently trading at $2.47 and has experienced a 7.6% decrease in the past 24 hours. Altcoin Sherpa also highlighted another memecoin, Popcat (POPCAT), which he believes could see a short-term price surge. The analyst stated, “Wouldn’t be surprised to see some sort of parabolic blow-off top to $2 or something and then this thing dies for a bit. All cat beta should follow the same pattern. Would NOT recommend buying most cat tokens at current levels; wait for a pullback if you can.”
POPCAT is currently trading at $1.25 and has seen a 5% decrease in the past 24 hours. Additionally, Altcoin Sherpa mentioned Bittensor (TAO), a machine learning marketplace, which he believes could be heading towards a pullback despite its long-term strength. The analyst expressed, “TAO still looks strong but it’s getting near the danger area and wouldn’t be surprised for pullback. Still believe this goes far past ATH (all-time high) later given it’s the leader in AI (artificial intelligence) right now. There are some concerns with inflation that I’ve read but it still looks pretty good to me in the mid-term.”
TAO is currently trading at $620.52 and has experienced a 1.5% increase in the past 24 hours. Altcoin Sherpa’s insights provide valuable information for crypto traders looking to navigate the volatile market. Stay updated with the latest trends in the crypto space by subscribing to email alerts and following reputable sources like The Daily Hodl on social media platforms.