A popular crypto trader believes one of Dogecoin’s (DOGE) rivals could be headed for a breakout soon.
A pseudonymous analyst known as Altcoin Sherpa told his 224,000 followers on social media platform , said the price could soar toward $3.50.
Despite the potential for a breakout, Altcoin Sherpa says he won’t buy WIF at its current levels.
At the time of writing, WIF is trading at $2.47. The 42nd-ranked cryptocurrency by market capitalization has fallen more than 7.6% in the past 24 hours.
The analyst also believes meme coin POPCAT could witness a short-term price surge.
“I wouldn't be surprised to see some kind of parabolic high going up to $2 or so and then this disappearing for a little while. All cat betas should follow the same pattern. Yes, we do not recommend buying most cat tokens at their current levels. Wait for a pullback if possible.
At the time of writing, POPCAT is trading at $1.25. The crypto asset, which ranks 67th in terms of market capitalization, has fallen more than 5% in the past 24 hours.
Regarding other assets, Altcoin Sherpa believes that machine learning market Bittensor (TAO) could be headed for a decline, even though it looks solid in the long term.
“TAO still looks strong, but it's approaching danger territory and I wouldn't be surprised if it retreats.Given that it's currently the leader in AI (artificial intelligence), this could be a sign of the future ATH (all-time high From what I've read, it still looks pretty good for the medium term, although there are some concerns about inflation.
At the time of writing, TAO is trading at $620.52. The 28th largest crypto asset by market capitalization has gained more than 1.5% in the past 24 hours.
Never miss a beat – Subscribe to get email alerts delivered straight to your inbox
Check price action
follow me ×Facebook and Telegram
Surf the Daily Hoddle Mix
 
Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should perform due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets. The Daily Hodl is also not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated image: Mid Journey
