A well-known cryptocurrency analyst is expressing optimism about a popular memecoin while also sharing insights on two other digital assets.
Altcoin Sherpa, a trader with a large following of 219,000 on the social media platform X, predicts that Dogecoin (DOGE) could potentially reach a price of over $0.50 in the next six to 12 months, indicating a potential gain of more than 275% from its current level.
“DOGE remains a solid investment, although the returns may not be as substantial as in the previous cycle due to its market capitalization. Nevertheless, it’s a good choice for those with significant holdings who still want to capitalize on the meme craze.”
At present, DOGE is trading at $0.133.
Moving on to Bitcoin (BTC), Altcoin Sherpa believes that the cryptocurrency appears strong after successfully retesting resistance around $65,000 and turning it into support.
“After this positive reaction, I anticipate a test of the $70,000 range.”
Bitcoin is currently trading at $67,730.
Regarding the payment protocol XRP, Altcoin Sherpa is bullish on the altcoin following its rise above resistance at $0.58.
“XRP is showing considerable strength at the moment.”
Based on the trader’s analysis, it seems that the next hurdle for XRP is at $0.75.
XRP is trading at $0.597 at the time of writing.
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Disclaimer: The opinions expressed by The Daily Hodl are not financial advice. Investors should conduct thorough research before engaging in high-risk investments involving Bitcoin, cryptocurrency, or digital assets. Please be aware that all transfers and trades are done at your own risk, and any resulting losses are solely your responsibility. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor does it provide investment advisory services. Kindly note that The Daily Hodl engages in affiliate marketing activities.
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