A popular crypto trader believes that meme assets Dogecoin (DOGE) and Shiba Inu (SHIB) are gearing up for big moves to the upside.
The pseudonymous analyst known as Altcoin Sherpa tells his 208,200 followers on the social media platform X that he is bullish on both DOGE and SHIB after their lengthy accumulation phases.
However, he warns that he doesn’t think either memecoin will return to its all-time highs (ATH).
“DOGE and SHIB will never experience the same insane growth they did back in 2021, simply due to the market cap now. Both of those coins are established big caps (literally) and are more going to trade like big liquid coins that you can do on any big CEX (centralized exchange).
With that said, DOGE and SHIB both ironically look like extremely good charts. Both have had almost two years in accumulation and I expect both to have huge runs sometime this year in 2024-2025. But I’m planning to just wait for the first big move before hopping on the train and trading later.”
Looking at his chart, the trader suggests SHIB is about to flip the $0.00001056 level into support and head toward the range high of about $0.00001484
DOGE is trading for $0.113 at time of writing, up nearly 17%, while SHIB is trading for $0.00001139, up 5% in the last 24 hours.
The trader also predicts that Bitcoin (BTC) will dip after coming up against resistance around its all-time high price of about $69,000 set in November 2022.
“BTC: the next area up is probably $60,000…
There *should* be some sort of pullback around all-time highs but this has been mind blowing to see.”
Bitcoin is trading for $60,235 at time of writing, up 6% in the last 24 hours.
Lastly, the trader warns that artificial intelligence (AI)-related altcoin project Worldcoin (WLD) could decline by more than 33% from its current value after printing a bearish pattern.
“WLD: warning signs are already here. I think this is going to be one of the best coins to short…
This thing dumps hard if the market starts going down and probably just slow grinds down even if the market is still up only…
I don’t know what the overall target is here, probably like $5 or lower?”
Worldcoin is trading for $7.48 at time of writing, up 3% in the last 24 hours.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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