A widely followed trader said he is bullish on Dogecoin (DOGE), a leading meme coin, despite the market-wide correction.
A trader known by the pseudonym Sherpa has told his 214,200 followers on social media platform X that he intends to accumulate Dogecoin.
“Doge: In my opinion, the best bet is to buy down to $0.15 and leave this cycle alone. I am still very bullish on DOGE doing something stupid later this year. ”
Dogecoin is trading at $0.167 at the time of writing, close to the accumulation level of altcoin Sherpa.
Next, analysts say Bitcoin (BTC) will likely trade between $73,000 and $60,000 before rising.
“BTC: Similarly, this is a chop before hitting a new all-time high.
That being said, I think many altcoins are cheaper because they still look like crap. However, we are still bullish on BTC on higher time frames. ”
At the time of writing, Bitcoin was trading at $66,536, down nearly 6% over the past day.
Turning to meme asset Pepe (PEPE), the pseudonymous trader said the meme token is likely to fall to the 0.618 Fibonacci level at $0.00000468. Fibonacci retracement areas are used to mark support and resistance levels for an asset.
“In my opinion, PEPE still has a long way to go.”
At the time of writing, Pepe was trading at $0.000006, down more than 23% in the past 24 hours.
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Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should perform due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that transfers and transactions are made at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets. The Daily Hodl is also not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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