A popular crypto trader thinks one Dogecoin (DOGE) rival could be headed for a breakout soon.
The pseudonymous analyst known as Altcoin Sherpa tells his 224,000 followers on the social media platform X that if the Solana (SOL)-based memecoin dogwifhat (WIF) manages to break above the $2.845 range, it could surge toward $3.50.
Despite the possible breakout, Altcoin Sherpa says he wouldn’t buy at WIF’s current level.
WIF is trading at $2.47 at time of writing. The 42nd-ranked crypto asset by market cap is down more than 7.6% in the past 24 hours.
The analyst also thinks the memecoin Popcat (POPCAT) could witness a short price surge.
“Wouldn’t be surprised to see some sort of parabolic blow-off top to $2 or something and then this thing dies for a bit. All cat beta should follow the same pattern. Would NOT recommend buying most cat tokens at current levels; wait for a pullback if you can.”
POPCAT is trading at $1.25 at time of writing. The 67th-ranked crypto asset by market cap is down more than 5% in the past 24 hours.
In terms of other assets, Altcoin Sherpa thinks the machine learning marketplace Bittensor (TAO) could be headed toward a pullback despite looking strong over the long term.
“TAO still looks strong but it’s getting near the danger area and wouldn’t be surprised for pullback. Still believe this goes far past ATH (all-time high) later given it’s the leader in AI (artificial intelligence) right now. There are some concerns with inflation that I’ve read but it still looks pretty good to me in the mid-term.”
TAO is trading at $620.52 at time of writing. The 28th-ranked crypto asset by market cap is up more than 1.5% in the past 24 hours.
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