A widely followed cryptocurrency analyst and trader is leaning bullish on a top-10 altcoin by market cap.
The analyst pseudonymously known as Sherpa tells his 229,600 followers on the social media platform X that Dogecoin (DOGE) is “still very strong looking” amid the flagship memecoin rising by around 60% from the October low.
According to Sherpa, Dogecoin could undergo a correction before going higher.
Dogecoin is trading at $0.169 at time of writing.
Next up is Bitcoin (BTC). According to the pseudonymous analyst and trader, Bitcoin hasn’t “materially moved” above the $65,000 level in about 1,295 days and could potentially go higher.
“Time is ticking… BTC to all-time high loading
You are not bullish enough.”
Sherpa also says that the ratio of Bitcoin relative to other crypto assets is set to remain at elevated levels. Based on the widely followed analyst’s chart, it appears that he is suggesting that the level of Bitcoin dominance could peak at over 70%.
“I think that we actually see higher dominance for a bit because BTC still has yet to have a true breakout. The higher this goes, the more fun we have after.”
Bitcoin is trading at $71,983 at time of writing while the Bitcoin dominance level is at 56%.
Next up is Solana (SOL). According to the pseudonymous analyst, Solana is in an accumulation zone that potentially offers attractive entry opportunities.
“Solana – you still have time before all-time highs. This is not a bearish chart. Continue to scale in this range and be happy when it does its next leg up.”
Solana is trading at $175 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 Crypto Analyst Says One Large-Cap Memecoin Looking Very Strong, Updates Outlook on Bitcoin and Solana appeared first on The Daily Hodl.