A popular crypto analyst predicts that a meme asset that has seen significant gains in the past eight months will continue to rise.
During a recent strategy session, the pseudonymous crypto trader known as Altcoin Sherpa shared his thoughts with his 217,000 followers on the social media platform X regarding memecoin MAGA (TRUMP). Despite a slight pullback, Altcoin Sherpa believes that TRUMP will go “berserk” in the near future.
“TRUMP: I still hold this asset in my portfolio, and it has retraced to the .50 Fibonacci level. I am considering adding to my position at this point. I remain bullish on TRUMP, especially with the upcoming election and the continued mainstream media coverage. I expect it to skyrocket later on.”
Altcoin Sherpa’s chart suggests that TRUMP could reach a price of $18 by the end of June or the beginning of July. Currently trading at $12.43, TRUMP has experienced a slight increase in the last 24 hours. Since October 7th, when it was valued at $0.0199, TRUMP has seen an impressive gain of 61,759%.
The analyst also mentioned Notcoin (NOT), another popular altcoin, noting that it appears to be forming a consolidation pattern, which could indicate a potential top.
“NOT: I have changed my stance on this asset. The price action has stabilized, showing less volatility. The consolidation pattern suggests a more stable trend, as opposed to sharp spikes in both directions, which could signal a market top.”
NOT is currently trading at $0.0215, marking an increase of over 300% from its price of $0.00527 on May 26th.
In conclusion, Altcoin Sherpa advises investors to accumulate “shitcoins” until Q4 of 2024, as he anticipates a decrease in Bitcoin’s dominance, leading to potential gains for altcoins.
“Consider accumulating low-value altcoins until late Q4. Most altcoin/BTC pairs are likely to continue declining, but once Q4 arrives, I expect Bitcoin’s dominance to decrease, creating opportunities for altcoins to perform well.”
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Disclaimer: The opinions expressed in this article are not investment advice. Investors should conduct their own research before making high-risk investments in Bitcoin, cryptocurrency, or digital assets. All transfers and trades are at the investor’s own risk. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor is it an investment advisor. Please note that The Daily Hodl may engage in affiliate marketing activities.
