dailyhodl.com
A closely followed crypto analyst believes that one top memecoin could print big gains later this year.
Pseudonymous crypto trader Altcoin Sherpa tells his 217,100 followers on the social media platform X that he is long-term bullish on Dogecoin ($DOGE).
“$DOGE: many memes looking choppy in the short term, but I still think these look pretty good on high timeframe charts. Expecting more chop for the next stretch though, wouldn’t rush to buy fresh positions here. Patience. I still think these do big numbers later this year.”
Looking at his chart, the analyst suggests that $DOGE may trade around a range with a low bound of $0.12 and a high bound of $0.17 before breaking out later in 2024.
$DOGE is trading for $0.13 at time of writing, down more than 4% in the last 24 hours.
Next up, the analyst warns that Ondo Finance ($ONDO), a project focused on tokenizing real-world assets (RWAs), could retest lower levels in the near term.
“$ONDO: I was wrong on it consolidating for another leg, wasn’t ready. I think that this one probably trades down to the $1.10 level before the next bounce (should be a small one first at $1.19). Still bullish on it though from a RWA (real-world asset) perspective.”
$ONDO is trading for $1.22 at time of writing, down 1.4% in the last 24 hours.
Next up, the analyst believes that $BNB ($BNB), the utility token for the $BNB Chain ecosystem, could retrace to Fibonacci levels before resuming an uptrend. Key price targets to the downside include $600.
“$BNB: half in, hoping I get entries lower.”
$BNB is trading for $609 at time of writing, down nearly 6% in the last 24 hours.
Lastly, the analyst suggests that Internet of Things (IoT) project Jasmy ($JASMY) may have more upside potential if it holds $0.0377 as support.
“$JASMY never bought this shitcoin but it looks pretty strong still. Bizarre.”
$JASMY is trading for $0.0357 at time of writing, down nearly 6% in the last 24 hours.
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