A prominent cryptocurrency strategist predicts that a dog-themed Solana (SOL)-based memecoin is on track to see lower prices.
In a recent video, the anonymous analyst Credible Crypto informs his 55,500 YouTube followers that dogwifhat (WIF) may not have hit its market bottom yet.
“I believe we might witness a dead cat bounce, but I don’t think the downside is over yet.”
Reviewing his chart, the analyst suggests that WIF could drop to as low as $0.80 with intermittent price rebounds.
WIF is currently priced at $1.60, showing a nearly 3% increase in the past 24 hours.
Additionally, the strategist mentions that memecoin Pepe (PEPE) might undergo a roughly 90% correction from its peak of $0.0000171.
“We have a significant support zone in the green area [between $0.0000059 and $0.0000040], so we might witness a bounce from there. However, ultimately, I anticipate a downward trend.”
Based on the analyst’s chart, it seems PEPE could plummet to around $0.00000185.
Currently, Pepe is trading at $0.00000876.
Lastly, the expert suggests that the dog-themed memecoin Dogecoin (DOGE) could revisit higher resistance levels if Bitcoin starts to surge.
“Coins like DOGE might see an upward relief. We’ve hit our initial downside target support zone – a sensible place for a bounce.
We might experience a rebound alongside Bitcoin. However, we are likely to encounter resistance and continue to decline as Bitcoin surges. This could lead to a prolonged downward trend…
Dogecoin: a plausible entry point at $0.10. But if this level is breached, we might see further declines. A bounce is possible at this point.”
According to his analysis, one potential scenario is for DOGE to drop to about $0.084, retest resistance near $0.15, and potentially fall to as low as $0.06.
DOGE is currently valued at $0.108, showing a slight increase in the last 24 hours.
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