Widely followed crypto analyst Altcoin Sherpa takes an optimistic view that Dogecoin and Shiba Inu, the meme coins gaining popularity in the cryptocurrency world, are poised to enter a significant uptrend. After a long accumulation period, Sherpa expects both DOGE and SHIB to increase in value. However, there is no guarantee that either meme coin will reach all-time highs (ATH).
In its analysis, Altcoin Sherpa states that DOGE and SHIB are unlikely to repeat their crazy growth rallies in 2021 due to their current market values. However, he predicts that both of these coins have fairly high market caps and will be traded as liquid assets on major centralized exchanges (CEX). He also states that the charts of Dogecoin and Shiba Inu give very positive signals for the future. He predicts that both coins are going through a long accumulation period and they can achieve great success in 2024-2025.
However, the analyst warns investors to watch the market carefully and take a strategic approach before seizing this potential rally. Although meme coins such as DOGE and SHIB have experienced spikes in the past, this may not happen again and caution is warranted given the volatile nature of the market. Sherpa suggests that investors should follow trends and analyze price movements, but avoid making hasty decisions.
“DOGE and SHIB will never experience the crazy growth they experienced in 2021 due to their current market cap. Both of these coins have huge valuations (literally) and will be traded like large liquid coins, which you can do on any major CEX (centralized exchange). However, DOGE and SHIB both ironically look like extremely good charts. The accumulation of both has been almost two years, and I expect both of them to achieve great success this year 2024-2025. But I plan to jump on the bandwagon and wait for the first big move before trading later.”
NEWS CONTINUES BELOW
According to the chart shared by the analyst, he suggests that SHIB is about to turn the $0.00001056 level into support and is moving towards the top range of around $0.00001484. SHIB is trading at $0.00001139, up 5% in the last 24 hours.
Altcoin Sherpa also predicts that Bitcoin (BTC) will decline after encountering resistance around the all-time high price of around $69,000 set in November 2022.
“BTC: The next area is probably $60,000… There *must* be some sort of pullback from all-time highs but this is mind-blowing to see.”
Finally, the trader warns that artificial intelligence (AI)-related altcoin project Worldcoin (WLD) may fall more than 33% from its current value after a bearish trend. warns.
“WLD: warning signs are already here. I think this will be one of the best coins to short… This altcoin will crash very badly if the market starts to fall and will probably fall slowly even if the market is still up. “I don’t know what the overall goal is here, probably $5 or less?”
You can follow the current price movement here.
