In the realm of cryptocurrency, one particular altcoin stands out as a frontrunner, according to a well-known crypto strategist. Going by the name Cred, this pseudonymous analyst has expressed optimism for Pepe, a memecoin inspired by frogs. Cred believes that Pepe is leading the pack in terms of market structure, as it steadily approaches its all-time high, even in the face of a previous market correction.
Cred states, “PEPE: one of the strongest alts, ahead of several of the others by virtue of breaking its range high (vs. Bonk and Doge, which are still technically testing their respective resistances).” At the time of writing, Pepe is valued at $0.00000865, sitting just under 20% away from its all-time high of $0.0000106.
When it comes to Dogecoin (DOGE), Cred suggests that the altcoin may lose momentum if it retests its immediate support level at $0.147. Cred explains, “One of those instances where reaching the best support would make the chart look quite ugly, so options are to hope for low time frame/shallow pullbacks, or breakout chase.” Currently, DOGE is valued at $0.162, which is very close to the analyst’s projected breakout level.
As for Bonk (BONK), another memecoin, Cred believes that the altcoin appears bullish as long as it remains above its midpoint range at $0.000025. Cred advises, “Strong off the lows, at local range high. Shallow pullback and/or breakout punts preferable. Retracing the reclaim back to the range low would be a tough look.” At the moment, BONK is trading at $0.0000262.
Lastly, Cred mentions dogwifhat (WIF), stating that the altcoin is currently experiencing a new upward trend, with invalidation taking place if it falls below $3. Cred explains, “Assuming one-day close doesn’t get stuffed, this move would signify a daily time frame higher high + move back into the former range. Same area would act as line in the sand for bias i.e. sub $3.” Currently, WIF is valued at $3.37.
It’s important to note that the opinions expressed by Cred are not investment advice, and investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Additionally, The Daily Hodl, where this information was sourced, does not recommend buying or selling any cryptocurrencies or digital assets, nor do they function as investment advisors.
