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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