A widely respected cryptocurrency strategist says one Dogecoin (DOGE) challenger is far ahead of its fellow altcoins.
Pseudonymous analyst Cred told his 624,100 followers on social media platform X that he is bullish on frog-themed memecoin Pepe (PEPE).
According to cryptocurrency strategists, PEPE is leading the altcoin pack in terms of market structure, with memecoins nearing all-time highs even after last month’s market-wide correction.
“PEPE: One of the strongest alts, ahead of other alts by breaking through high range (compared to Bonk and Doge, who are still technically testing their respective resistances).”
As of this writing, PEPE is at $0.00000865, less than 20% off its all-time high of $0.0000106.
Looking at Dogecoin, Cred says DOGE is likely to lose steam if it retests the immediate support at $0.147.
“Once the highest support is reached the chart can look quite ugly so the options are either a lower period/shallow downtrend or hoping for a breakout chase.”
As of this writing, DOGE is valued at $0.162, very close to analysts’ next breakout level.
Regarding fellow memecoin Bonk (BONK), Cred said the altcoin looks bullish as long as it trades above the midpoint of its range at $0.000025.
“Strong at the low end, best at local range. Shallow pullbacks and/or breakout punts are desirable. “It will be a difficult task to bring landfill back to the lower range.”
As of this writing, BONK is trading at $0.0000262.
The last coin on the list of traders is dogwifhat (WIF). According to analysts, WIF is on a new upward trend with an invalidation below $3.
“Assuming the daily close is not filled, this move would mean the daily time frame moves higher and back to the previous range.
The same area serves as a line in the sand for a bias below $3.”
As of this writing, WIF is worth $3.37.
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