A closely followed trader in the crypto space says that Dogecoin (DOGE) is likely going to print sizeable gains once a proper bull market kicks off.
The pseudonymous trader known as Altcoin Sherpa tells his 209,000 followers on the social media platform X that while it may not be the most original investment thesis, DOGE is still a high-probability opportunity for getting several multiples on your capital.
“It’s not a very creative or fast trade but DOGE is eventually going to do crazy numbers this cycle. It won’t outperform other memes given its MC (market cap) but you probably make 4x your money if you buy and sell on the giga pump. Buy now and go into a coma and sell when this moons.”
Altcoin Sherpa’s chart suggests that Dogecoin faces a major breakout level past the $0.18 mark. At time of writing, DOGE is trading at $0.164, up over 24% in the last 24 hours.
Looking at Ethereum (ETH) rival Solana (SOL), the trader says that SOL’s recent price action is somewhat underwhelming in a shorter-term time frame, but he remains bullish from a longer-term perspective.
“SOL: to be honest, these aren’t the best candle closes + I want to see some strong follow-up in the next few days.
Failing to do so would probably mean another move back within that $100-120 trading range. Overall, not really sure where this one goes in the midterm but I’m still bullish high timeframe.”
At time of writing, SOL is trading at $129.
Meanwhile, the trader says Dogecoin rival Bonk (BONK) is presenting opportunities at the moment. Given that it’s lagging behind other memecoins like dogwifhat (WIF) and Pepe (PEPE), Altcoin Sherpa says BONK has a good chance of catching up soon.
“BONK: this is a good coin to buy right now. It’s still lagging WIF and PEPE.
When coins consolidate like this and the leaders are still going, you can easily buy this right now…”
At time of writing, BONK is worth $0.000034, up nearly 50% in the past day.
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Generated Image: Midjourney