Cryptocurrency Trader Predicts Further Decline for Solana-Linked Altcoin, Charts Future Trajectory for Pepe and Dogecoin
A prominent cryptocurrency expert suggests that a canine-inspired memecoin on the Solana network (SOL) might be on a trajectory for further decline in value.
In his latest update, the anonymous commentator Credible Crypto shares with over 55,500 subscribers on YouTube his perspective that dogwifhat (WIF) has not found its price floor yet.
“There’s potential for an interim rally,” Credible Crypto muses, “but I suspect the downtrend isn’t over.”
The chart analysis by the crypto strategist indicates that WIF could see a decrease to the $0.80 mark while experiencing intermittent bounces.
Currently, WIF stands at $1.60, witnessing a nearly 3% increase over the past day.
Another memecoin, Pepe (PEPE), could potentially see a 90% drop from its apex of $0.0000171, according to the analyst.
“Considering the solid support in the green area [ranging from $0.0000059 to $0.0000040], we might anticipate a rebound,” he opines. “However, my expectation is an overall downward direction.”
The chart hints that PEPE could slump to as low as $0.00000185.
Presently, Pepe is valued at $0.00000876.
Lastly, it’s suggested that Dogecoin (DOGE) could rebound to higher resistance levels if Bitcoin starts to rally.
“Instruments like DOGE could enjoy a temporary climb,” he notes. “After reaching our initial demand target area, a bounce is plausible.
If Bitcoin bounces, so might DOGE. But further resistance may ultimately trigger a steady decline as Bitcoin’s rise continues. And thus, we may see a more extended downturn… For Dogecoin, $0.10 is a rational entry interest point, but a drop beneath this could lead to further dips. We might certainly witness a recovery here.”
The analysis proposes that DOGE may dip to about $0.084, challenge resistance near $0.15, and could even plummet to a low of $0.06.
At the moment, DOGE is trading around $0.108, marginally up since yesterday.
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