Analyst Says One Memecoin Setting the Stage for Stronger Rally, Names Altcoin Presenting Opportunity After Dip
An analyst known for making timely altcoin calls says one Dogecoin (DOGE) rival will make a huge comeback after the crowd takes their attention elsewhere.
Pseudonymous analyst The Flow Horse tells his 210,100 followers on the social media platform X that he’s long-term bullish on the memecoin dogwifhat (WIF).
According to the top trader, WIF will likely see sideways price action in the coming months, which he thinks will prepare the meme token for a big upside move in the second half of 2024.
“I think the dog is going to take off the hat for a bit.
Across every timeframe, WIF looks like it needs to see a vet. It probably ranges for some time, enough to get people moving on and doubting its long-term place in this market (it stands with DOGE now, in my opinion)…
The next pump is stronger though. I want to rebuy the summer dip.”
Source: TheFlowHorse/X
At time of writing, WIF is worth $2.40, down nearly 9% in the last 24 hours.
The trader is also keeping a close eye on Ethena (ENA), a governance token launched by Ethena Labs for the project’s decentralized finance (DeFi) protocol. According to The Flow Horse, ENA is one of the fastest altcoins to rise amid the current dip.
“Obviously, ENA the dip to buy during liquidations.”
Source: TheFlowHorse/X
At time of writing, ENA is trading for $1.06, up nearly 18% from its 24-hour low of $0.90.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
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 loses 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.
Generated Image: Midjourney
The post Analyst Says One Memecoin Setting the Stage for Stronger Rally, Names Altcoin Presenting Opportunity After Dip appeared first on The Daily Hodl.