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Kriptoteka > Market > Meme > Analyst Bullish on 6,400% Gaining Altcoin and Dogecoin Outlook
Meme

Analyst Bullish on 6,400% Gaining Altcoin and Dogecoin Outlook

marcel.mihalic@gmail.com
Last updated: September 14, 2024 12:47 pm
By marcel.mihalic@gmail.com 3 Min Read
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A well-known crypto strategist and trader believes that a promising real-world asset (RWA) project has significant upside potential.

The pseudonymous analyst Altcoin Sherpa states to his 222,700 followers on the social media platform X that MANTRA (OM) “continues to show strength.”

“After consolidating in the previous range, we are now seeing an expansion; I would personally be cautious about purchasing at this point and anticipate a pullback around $1.23 and $1.41. Nevertheless, it remains one of the more promising RWA investments, and I hold a position.”

Image
Source: Altcoin Sherpa/X

MANTRA is a cryptocurrency project that facilitates the tokenization and trading of real-world assets like commercial properties.

At the time of writing, OM is trading at $1.13, representing a rise of 6,421% from its price of $0.0176 in October 2023.

Looking ahead, the analyst mentions he is turning bullish on the meme token Dogecoin (DOGE).

“It remains to be seen if DOGE will achieve remarkable numbers like it did in 2021; my prediction is it won’t, considering its market cap. However, it should still provide a few x gains from here and is one of the most liquid cryptocurrencies available. The $0.10 level is a reasonable entry point given the one-week chart.”

Image
Source: Altcoin Sherpa/X

DOGE is currently priced at $0.107, reflecting a 5.29% increase over the past day.

Finally, the analyst suggests that Bitcoin (BTC) could retest the $45,000 mark before gaining momentum later this year.

“For BTC: we’re still in the lower range on the daily chart, but I consider the $45,000 level to be significant. The $50,000 mark has already been touched, and the daily structure seems bearish to me. I’m not suggesting it’s the end, but a shakeout and some sideways movement until late Q4 seems likely.”

Image
Source: Altcoin Sherpa/X

Bitcoin is trading at $60,608 as of this writing, with a 4.3% increase in the last 24 hours.

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Disclaimer: The views expressed at The Daily Hodl are solely those of the authors and do not constitute investment advice. Investors are encouraged to perform their due diligence before making any high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please be aware that all transfers and trades are taken at your own risk, and any potential losses are your responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets and does not act as an investment adviser. Additionally, The Daily Hodl is involved in affiliate marketing.

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