A widely followed cryptocurrency analyst and trader is offering his take on a real-world asset (RWA) project that’s skyrocketed by over 40x since December of 2023.
The trader pseudonymously known as Sherpa tells his 222,500 followers on the social media platform X that the RWA blockchain MANTRA (OM) is a “strong project.”
“OM still is in the same trading range and has held up way better than most other altcoins. I’m still in this one as a RWA bet for this cycle and I think that we’ll still see some more chop for a bit before the next leg up.”
At time of writing, OM is trading at $0.968, up by around 4,108% since the December 4th low of $0.023.
Next up is the Solana-based memecoin dogwifhat (WIF). The widely followed analyst says that the Solana-based memecoin is in a “decent” support zone but is unlikely to surge to a new all-time high “any time soon.”
“Guessing we still see more chop and consolidation around this area [between $1.44 and $1.96]. Best to be patient.”
At time of writing, WIF is trading at $1.48, around 70% below the all-time high price of $4.83 reached in March.
Next up is the layer-one blockchain Injective (INJ). According to Sherpa, INJ’s chart on the daily time frame appears bearish with no end in sight.
“Lower highs across the board. Should bounce *somewhere* but I don’t know where the real bottom is. Personally, I doubt it reaches former all-time high this cycle but I could be wrong.”
At time of writing, INJ is trading at $15.98, about 70% below the all-time high of $52.62 reached on March 14th.
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The post Trader Updates Outlook on Altcoin That’s Exploded Over 4,100% in Nine Months, Maps Path Forward for dogwifhat appeared first on The Daily Hodl.