A widely followed crypto analyst thinks that a leading meme token is primed to witness big bursts to the upside in the coming months.
The analyst pseudonymously known as Altcoin Sherpa tells his 212,900 followers on the social media platform X that Dogecoin (DOGE) could rally by over 200% from current levels.
“DOGE: this is still a great long-term investment to be honest. And by long term, I mean like six months-plus. It’s going to do something insane this cycle and still should be at least a 3x-plus from here (possibly more). It accumulated for 700 days, still is the banner meme for all of crypto, and is very ‘safe’ given the market cap/liquidity/etc.”
DOGE is trading at $0.212 at time of writing.
Turning to Bitcoin (BTC), Altcoin Sherpa says that the flagship crypto asset is in a consolidation phase prior to seeing a fresh leg up.
“BTC: price has consolidated here for about one month. Overall, this is bullish and I don’t think we go lower than that range low at $60,000 (in the short term). Expecting a bit more chop and then we do the next leg up. No reason to be bearish at all in my opinion.”
BTC is trading at $70,068 at time of writing.
Next up is the artificial intelligence-focused crypto project Fetch.ai (FET). Altcoin Sherpa says he is bullish on FET and that pullbacks present potential opportunities for active traders.
“FET: Resume the pump. This is one to buy any dip on if actively trading. I think that it still looks extremely strong.”
FET is trading at $3.07 at time of writing.
Generated Image: DALLE3
Source:
https%3A%2F%2Fcryptonews.com.au%2Fnews%2Fits-going-to-do-something-insane-this-cycle-analyst-says-this-memecoin-primed-to-skyrocket-by-at-least-200-119303%2F