A widely respected trader said he is bullish on leading memecoin Dogecoin (DOGE) despite the market-wide correction.
The trader, known by the pseudonym Sherpa, told his 214,200 followers on social media platform X that he planned to accumulate Dogecoin.
“DOGE: I think it would be a good idea to buy until $0.15 and hold it there for the rest of this cycle. “I remain very optimistic about DOGE doing something stupid later this year.”
Dogecoin is trading at $0.167 at the time of this writing, which is close to the accumulation level of Altcoin Sherpa.
Next, the analyst says Bitcoin (BTC) will likely trade between $73,000 and $60,000 before starting an upward trend.
“BTC: And this was before it broke its all-time high.
That said, I think many altcoins are lower because they still look tacky. However, I am still bullish on BTC on higher time frames.”
Bitcoin is trading at $66,536 at the time of this writing, down nearly 6% over the past day.
Looking at the meme asset Pepe (PEPE), an anonymous trader says that the meme token will fall to the 0.618 Fibonacci level of $0.00000468. Fibonacci retracement areas are used to indicate support and resistance levels for an asset.
“I think PEPE has a long way to go.”
Pepe is trading at $0.000006 at the time of this writing, down more than 23% in the last 24 hours.
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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and that you are responsible for any losses that may occur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.
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