dailyhodl.com
An analyst known for making timely altcoin calls says one Dogecoin ($DOGE) rival will make a huge comeback after the crowd takes their attention elsewhere.
Pseudonymous analyst The Flow Horse tells his 210,100 followers on the social media platform X that he’s long-term bullish on the memecoin dogwifhat ($WIF).
According to the top trader, $WIF will likely see sideways price action in the coming months, which he thinks will prepare the meme token for a big upside move in the second half of 2024.
“I think the dog is going to take off the hat for a bit.
Across every timeframe, $WIF looks like it needs to see a vet. It probably ranges for some time, enough to get people moving on and doubting its long-term place in this market (it stands with $DOGE now, in my opinion)…
The next pump is stronger though. I want to rebuy the summer dip.”
At time of writing, $WIF is worth $2.40, down nearly 9% in the last 24 hours.
The trader is also keeping a close eye on Ethena ($ENA), a governance token launched by Ethena Labs for the project’s decentralized finance (DeFi) protocol. According to The Flow Horse, $ENA is one of the fastest altcoins to rise amid the current dip.
“Obviously, $ENA the dip to buy during liquidations.”
At time of writing, $ENA is trading for $1.06, up nearly 18% from its 24-hour low of $0.90.
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