A Crypto Trader Bullish on Solana-Based Dogecoin Competitor
A popular crypto trader is optimistic about the potential gains of a Dogecoin competitor built on the Solana blockchain. The trader, known as The Flow Horse, believes that memecoin dogwifhat (WIF) could surge by more than 116% from its current price. The trader suggests buying WIF during intraday dips and sees no top until a major blow-off occurs. Additionally, the trader points out that weekly volume-weighted average prices have been good entry points for WIF. The target price for WIF is at least $0.80.
Altcoin Trends Influenced by Bitcoin’s Moves
The Flow Horse also emphasizes that the price trends of altcoins will be heavily influenced by Bitcoin’s near-term movements. If Bitcoin continues to rally, liquidity from altcoins may shift to Bitcoin as traders chase its uptrend. Conversely, if Bitcoin experiences a significant market correction, altcoins could suffer losses. The trader notes that altcoins are currently in a precarious position and advises caution.
Bitcoin is currently valued at $51,996.
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