A closely followed crypto trader says that one memecoin that has seen massive gains during the last five months looks ready to surge even higher.
In a new strategy session, crypto analyst Altcoin Sherpa tells his 217,600 followers on the social media platform X that meme assets are recovering nicely from the latest market crash.
According to the trader, one memecoin – dogwifhat (WIF) – is primed to skyrocket despite already printing huge gains this year.
“Some memes are making a strong bounce from their local bottoms. WIF probably will go to at least $2.50, MOG is one of the stronger ones, and og PEPEcoin is at a solid bounce area (I own this one). Let’s see if these areas can be sustained.”
In January, WIF was trading for $0.069. It is now trading for $2.16 at time of writing, a gain of nearly 3,088%.
Moving on to smart contract platform Solana (SOL), Altcoin Sherpa says he believes the altcoin will eventually rise to near the $170 price tag but notes that it could crash back down to even lower prices.
“SOL: I think this goes higher overall. to be determined if this is ‘the bottom’; I kind of doubt it. I still think you get another shot at the lows again later.”
Solana is trading for $147 at time of writing, a 7% gain during the last 24 hours.
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The post Trader Says Memecoin That’s Exploded Over 3,000% in Five Months Primed To Go Higher, Updates Outlook on Solana appeared first on The Daily Hodl.