A trader known for playing precise crypto currencies is suddenly bearish on memecoins.
Pseudonym analyst DonAlt says The 550,400 followers of social media platform
“I’m personally convinced that memes are dead. The rest of the market may get away with this, but I’m expecting the meme to turn into a giga rug pull. If your portfolio is on the 10th iteration of Dogs or Cats, good luck.”
Analysts focused on specific memecoins. warn If Pepe (PEPE) fails to support the $0.00000998 level on the daily chart, it may plunge towards the low range.
“PEPE: Decent breakout, technically bullish as long as it holds. If it fails and falls back into range, it will shorten the low end of the range to its target. I prefer WIF, but my bets may be spread out.”
Pepe is trading at $0.00001004 at the time of writing, down 4.5% in the last 24 hours.
Analysts too Called If memecoin dogwifhat (WIF) fails to support the high $3.15 range, it may plummet to the low $2.23 range.
“WIF: Looking to aggressively sell the upper end of the range. Aim lower than the low range. If the range is broken properly, it’s wrong.”
WIF is trading at $2.83, down 7.6% over the last 24 hours.
The analyst also lists some of his points: cause Because it is bearish against memecoins.
“Why I’m a Bearish Meme:
- There are already endless memes.
- There are thousands more every day.
- Many people have bought into the GME-meme cycle narrative (which is long overdue in my opinion).
- The chart overall doesn’t look very good.
- Emotions are a very twisted bull.”
Don’t miss a beat – subscribe to get email alerts delivered straight to your inbox
Check Price Action
follow us XFacebook, Telegram
Daily Hodl Mix Surfing
 
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 you will be responsible for any losses you may suffer. 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.
Image created by: Midjourney