A well-known crypto analyst predicts significant gains for a popular memecoin later this year.
Altcoin Sherpa, a pseudonymous crypto trader with 217,100 followers on the social media platform X, expresses his long-term bullish outlook on Dogecoin (DOGE).
“DOGE: Short-term volatility may be present in many memes, but I still believe they show promise on high timeframe charts. Expect some choppy movements in the near future, so it’s best not to rush into new positions. Patience is key. I anticipate significant growth later this year.”
Upon analyzing his chart, the analyst suggests that DOGE could fluctuate within a range of $0.12 to $0.17 before experiencing a breakout in 2024.
At the time of writing, DOGE is trading at $0.13, showing a decrease of over 4% in the past 24 hours.
In his next assessment, the analyst cautions that Ondo Finance (ONDO), a project focused on tokenizing real-world assets (RWAs), might revisit lower levels in the short term.
“ONDO: My assumption of it consolidating for another leg was incorrect. It seems likely that this will trade down to around $1.10 before a bounce (potentially a small one at $1.19). However, I remain optimistic about it from an RWA perspective.”
At the time of writing, ONDO is trading at $1.22, marking a 1.4% decline in the last 24 hours.
Moving on, the analyst predicts that BNB (BNB), the utility token for the BNB Chain ecosystem, may retrace to Fibonacci levels before resuming an upward trend. Key support levels to watch for include $600.
“BNB: I’m partially invested, hoping for lower entry points.”
As of the time of writing, BNB is trading at $609, showing a decrease of nearly 6% in the last 24 hours.
Lastly, the analyst indicates that the Internet of Things (IoT) project Jasmy (JASMY) could have potential for further growth if it maintains $0.0377 as a support level.
“JASMY, I never bought this coin, but it still looks quite robust. Odd.”
At the time of writing, JASMY is trading at $0.0357, displaying a decrease of almost 6% in the last 24 hours.
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