A cryptocurrency trader and analyst says one red-hot Solana (SOL)-based memecoin may have even more upside potential.
The analyst pseudonymously known as Altcoin Sherpa tells his 11,300 YouTube subscribers that Popcat (POPCAT) could soon flip $1 into a support level.
“One coin that I think still looks pretty good is Popcat. I think this coin is going to break the $1 area significantly. I don’t know when. And if Bitcoin shits the bed, then obviously it’s not going to. But it still looks incredibly strong. And I’m still of the opinion that cats catch up to dogs a little bit this cycle. Don’t know what it’s going to look like or anything like that.”
Popcat is trading for $0.96 at time of writing, up more than 18,000% since hitting a low of $0.00533 in January. With a current market cap of $944.2 million, the memecoin is the 80th largest crypto project.
Next, the analyst outlines one possible scenario for Bitcoin (BTC) in the coming months.
“There’s really no conclusive thing that we can take away from this price action in my opinion on lower timeframes. I do believe that things do look pretty good. But it wouldn’t surprise me at all to see… we hit another higher low [price], we grind back up but we chop around. And sometime in October, November we hit some sort of multi-week chop fest for Bitcoin and then we full send in December, January. That would make a lot more sense to me.”
Bitcoin is trading for $60,508 at time of writing.
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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.
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The post Trader Says Altcoin That’s Up Over 18,000% Year-to-Date ‘Looks Incredibly Strong,’ Updates Outlook on Bitcoin appeared first on The Daily Hodl.