A closely followed crypto strategist believes if Dogecoin (DOGE) takes off, then another memecoin stands to benefit from the hype.
Pseudonymous analyst Inmortal tells his 212,500 followers on the social media platform X that Floki (FLOKI) is poised to have a breakout on April 20th, dubbed “DOGE Day” by the memecoin’s supporters.
“Will pump DOGE on 4/20? If yes, FLOKI will follow. Confirmation above 0.00016.”
Looking at the analyst’s chart, he suggests a FLOKI breakout would be confirmed if it flips the $0.00016 level into support.
FLOKI is trading for $0.0001385 at time of writing, up nearly 2% in the last 24 hours.
Next up, the analyst says Bitcoin (BTC) appears to have reached a market bottom.
“Maybe we get another sweep, maybe not, but this is starting to feel like a bottom.
- Bullish divergence.
- Price at range low (-19% from all-time high).
- Downtrend is not accelerating.”
Bitcoin is trading for $62,206 at time of writing, up 1.1% in the last 24 hours.
The analyst also says that Ethereum (ETH) may be gearing up for a breakout against Bitcoin (ETH/BTC).
“Timing the exact bottom is not easy, nor is it necessary. I’m not saying that this low is the pico bottom, but the structures and the general sentiment suggest that it is a bottom formation. No need to stress, above 0.055 BTC we fly.”
ETH/BTC is trading for 0.048 BTC ($3,066) at the of writing.
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The post One Memecoin Could Draft off Dogecoin’s Gains if the Top Meme Asset Rallies on DOGE Day, Predicts Crypto Analyst appeared first on The Daily Hodl.
