- As the memecoin market experiences a resurgence, a prominent crypto analyst has issued a bullish prediction for PEPE, WIF, and POPCAT
- He has also expressed confidence in Solana while at the same time maintaining a cautious outlook for Toncoin
A prominent crypto analyst has, with confidence, predicted an upward price movement for these three cryptocurrencies which include Ethereum (ETH)-based altcoin PEPE and Solana (SOL)-based meme tokens dogwifhat (WIF) and Popcat (POPCAT).
This comes after the meme coin market has, for a considerable time, experienced a remarkable resurgence. This revival has not only caught the attention of the crypto community but has also led to analysts like Altcoin Sherpa, forecasting sustained market optimism.
PEPE Poised for a Breakout
Sharing his insights with his 219,100 followers on X (formerly Twitter), Altcoin Sherpa suggested that PEPE, an ETH-based memecoin, is designated for break out after surpassing the resistance level at $0.0000128. Holding the 23rd position, PEPE is at the time of writing exchanging hands with $0.00001135 marking a 1.70% and 10.00% decline in the last 24 hours and past week respectively.
On the other hand, should PEPE encounter resistance and fall below the critical support level of $0.000011, it may experience a further decline to approximately $0.00001075. If PEPE goes below this level, it could potentially trigger a sharp decline.
Focusing on the Solana-based memecoin, dogwifhat (WIF) is approaching its diagonal resistance at $2.50. At the time of writing, WIF is currently swapping hands with $2.30 marking a 0.59% decline in the last 24 hours. Notably, WIF is nearing the aforementioned resistance level. The analyst is bullish about WIF and is optimistic about a potential breakout which will lead to WIF’s price experiencing significant gains.
Additionally, in support of Sherpa’s bullish sentiment on WIF, DT from Coinglass has revealed that WIF’s Open Interest has surged by a noble 2.2% over the past 24 hours. The rising market activity on the Solana network has been a key driver of its price rally. This increased engagement is also evident in WIF, indicating growing overall market interest.
Also, another Solana-based memecoin that the analyst highlighted was POPCAT. According to Sherpa, the $0.9389 level is a critical resistance level for the token, which is currently trading at $0.7339. While POPCAT still has to climb to reach this level, the analyst suggests that breaking through it could significantly benefit investors.
Analyst Eyes an All-Time High
Looking beyond memecoins, the analyst showed confidence in Ethereum’s competitor, Solana. According to the analyst, Solana, which at the time of writing is changing hands with $182.22 is “Only a few key levels before all-time high. Still think this is a good one for the next several months.”
However, the analyst is more cautious about Toncoin (TON), despite its strong performance in recent months. According to Sherpa, “One of the strongest coins on the market the last few months looks a bit iffy in the mid-term. Wondering if that $5 level (200-day EMA) is going to get tested in the coming weeks. Still think TON has a lot of opportunity though this cycle and long-term bullish.”
