A well-known crypto trader predicts that altcoins are getting ready for a comeback following a significant correction.
The Flow Horse, a trader with a large following of 200,300 on the social media platform X, suggests that altcoins are poised to rebound from their recent market lows through mean reversion.
“Setting Bitcoin aside, some of these altcoins are going to experience a strong bounce through normal mean reversion. I might need to create a shopping list, but I’m still feeling indifferent about trading until at least July,” The Flow Horse stated.
The trader also singles out Pepe (PEPE) as the memecoin that he believes will outperform others, including dogwifhat (WIF).
“Memecoins are not dead, but I’m not sure if WIF is the pair to bet on. [WIF is] down against Solana from its all-time high (ATH), underperforming BTC from its ATH, underperforming both from the original April lows, and underperforming from the last highs. PEPE is the strongest contender.”
At the time of writing, PEPE is trading at $0.00001272, marking a 20% increase in the last 24 hours.
However, The Flow Horse suggests that WIF is likely to reach its bottom and is unlikely to drop to the $1 level.
“Despite my feelings, I still prefer being a buyer at this point rather than a seller. It would be poetic to get $1 fills, but it’s probably not going to happen.”
At the time of writing, WIF is trading at $2, showing an almost 19% increase in the last 24 hours.
Source: The Flow Horse/X
Don’t Miss a Beat –
Subscribe
to get email alerts delivered directly to your inbox
Check
Price Action
Follow us on
X
,
Facebook
and
Telegram
Surf
The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
