A prominent crypto strategist believes the price of the dog-themed Solana (SOL)-based Mimecoin could drop significantly.
In a new video, anonymous analyst Credible Crypto tells his 55,500 YouTube subscribers that dogwifhat (WIF) likely hasn’t formed a market bottom yet.
“I think we’re going to see some sort of dead cat bounce here, but I don’t think the downtrend is over yet.”
Looking at the chart, this trader suggests that WIF could drop to $0.80 as the price bounces.
At the time of writing, WIF is trading at $1.60, up about 3% over the last 24 hours.
The analyst then said that the Mimecoin Pepe (PEPE) could fall by around 90% from its all-time high of $0.0000171.
“Obviously we have a significant support area in the green zone ($0.0000059-$0.0000040) so we could see some sort of bounce from there. But ultimately I think where this is headed is lower.”
Based on the trader’s chart, it appears he is predicting that PEPE could crash to at least $0.00000185.
As of this writing, Pepe is trading at $0.00000876.
Finally, the analyst says that if Bitcoin starts to rise, dog-themed meme coin Dogecoin (DOGE) may retest higher resistance levels.
“Coins like DOGE could find some relief in the uptrend. We have hit our first downside demand target area. This is a logical place to see a bounce.
We’re probably going to see a bounce with Bitcoin, and we’re probably going to find some resistance and then continue to bleed as Bitcoin continues to pump. And that’s where we get this kind of long-term downside bleed…
Dogecoin: $0.10 is a logical place to watch, but if it loses that area, it could potentially go lower. We could definitely see a bounce here.”
Looking at the chart, the analyst predicts that DOGE could drop to around $0.084 before retesting the resistance level around $0.15 and then crashing to at least $0.06.
At the time of writing, DOGE is trading at $0.108, up slightly over the last 24 hours.
Korean: https://www.youtube.com/watch?v=-De3fPw5Ivc
Don’t miss out – subscribe to receive email notifications straight to your inbox
Price check task
Follow us XFacebook and Telegram
Surfing the Daily Hodl Mix
 
Disclaimer: The opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investment in Bitcoin, cryptocurrencies or digital assets. Your transfers and transactions are your responsibility and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets and The Daily Hodl is not an investment advisor. The Daily Hodl participates in affiliate marketing.
Generated image: DALLE3