Analyst Says Top Memecoin Will Do Big Numbers This Year, Updates Forecast on BNB and Two Other Altcoins
A closely followed crypto analyst believes that one top memecoin could print big gains later this year.
Pseudonymous crypto trader Altcoin Sherpa tells his 217,100 followers on the social media platform X that he is long-term bullish on Dogecoin (DOGE).
“DOGE: many memes looking choppy in the short term, but I still think these look pretty good on high timeframe charts. Expecting more chop for the next stretch though, wouldn’t rush to buy fresh positions here. Patience. I still think these do big numbers later this year.”
Looking at his chart, the analyst suggests that DOGE may trade around a range with a low bound of $0.12 and a high bound of $0.17 before breaking out later in 2024.
DOGE is trading for $0.13 at time of writing, down more than 4% in the last 24 hours.
Next up, the analyst warns that Ondo Finance (ONDO), a project focused on tokenizing real-world assets (RWAs), could retest lower levels in the near term.
“ONDO: I was wrong on it consolidating for another leg, wasn’t ready. I think that this one probably trades down to the $1.10 level before the next bounce (should be a small one first at $1.19). Still bullish on it though from a RWA (real-world asset) perspective.”
ONDO is trading for $1.22 at time of writing, down 1.4% in the last 24 hours.
Next up, the analyst believes that BNB (BNB), the utility token for the BNB Chain ecosystem, could retrace to Fibonacci levels before resuming an uptrend. Key price targets to the downside include $600.
“BNB: half in, hoping I get entries lower.”
BNB is trading for $609 at time of writing, down nearly 6% in the last 24 hours.
Lastly, the analyst suggests that Internet of Things (IoT) project Jasmy (JASMY) may have more upside potential if it holds $0.0377 as support.
“JASMY never bought this shitcoin but it looks pretty strong still. Bizarre.”
JASMY is trading for $0.0357 at time of writing, down nearly 6% in the last 24 hours.
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