Crypto Analyst Bullish on Dogecoin and Shiba Inu, Updates Bitcoin and Worldcoin Outlook
A popular crypto trader, known as Altcoin Sherpa, believes that meme assets Dogecoin (DOGE) and Shiba Inu (SHIB) are primed for significant upward movements. Altcoin Sherpa, who has a following of over 208,000 on social media platform X, is bullish on both DOGE and SHIB after their extended periods of accumulation. However, he does not expect either memecoin to reach its previous all-time highs.
Altcoin Sherpa states that due to the current market cap, DOGE and SHIB will not experience the same exponential growth they did in 2021. Instead, he believes they will trade like established big-cap coins on any major centralized exchange. Despite this, Altcoin Sherpa sees positive charts for both DOGE and SHIB, with nearly two years of accumulation indicating the potential for significant runs in 2024-2025. He plans to wait for the first major move before trading these assets.
Price Analysis: SHIB and BTC
Altcoin Sherpa’s chart analysis suggests that SHIB is on the verge of flipping the $0.00001056 level into support and aiming for the range high around $0.00001484.
As of writing, DOGE is trading at $0.113 with a nearly 17% increase, while SHIB is trading at $0.00001139 with a 5% increase in the last 24 hours.
In addition to his analysis on memecoins, Altcoin Sherpa predicts that Bitcoin (BTC) will experience a dip after encountering resistance near its all-time high price of approximately $69,000 set in November 2022. He anticipates a pullback around this level, but also expresses astonishment at Bitcoin’s performance.
At the time of writing, Bitcoin is trading at $60,235 with a 6% increase in the last 24 hours.
Bearish Outlook on Worldcoin
Altcoin Sherpa warns investors about Worldcoin (WLD), an artificial intelligence (AI)-related altcoin project. He believes that WLD could decline by over 33% from its current value after displaying a bearish pattern. Altcoin Sherpa expects WLD to dump heavily if the overall market starts going down, and even slowly grind down if the market remains up.
As of writing, Worldcoin is trading at $7.48 with a 3% increase in the last 24 hours.
Hot Take: Key Insights from Altcoin Sherpa
– DOGE and SHIB are unlikely to reach their previous all-time highs due to their current market caps. However, both assets show promising charts after two years of accumulation.
– Altcoin Sherpa suggests waiting for the first major move before considering trading DOGE and SHIB.
– SHIB is expected to flip the $0.00001056 level into support and target the range high of approximately $0.00001484.
– Bitcoin might experience a pullback after encountering resistance near its all-time high price of about $69,000.
– Altcoin Sherpa advises caution with Worldcoin (WLD) as it could decline significantly from its current value, especially if the overall market goes down.
Note: The above references are based on the insights shared by Altcoin Sherpa and should not be considered financial advice. It is essential to conduct thorough research and analysis before making any investment decisions.
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