A Layer-1 DEX Altcoin Poised for New All-Time Highs, According to Analyst
Altcoin Sherpa, a well-known trader with a large following, has expressed optimism about the potential for a layer-1 decentralized exchange (DEX) altcoin to see significant gains in the near future. The altcoin in question is Hyperliquid (HYPE), which Altcoin Sherpa believes is showing strong signs of bullish momentum despite the recent market correction.
Analyst’s Perspective on HYPE
Altcoin Sherpa shared his insights with his followers on X, stating that he sees HYPE consolidating near its current highs before embarking on a new rally towards a new all-time high. The trader emphasized the strength of HYPE and expressed confidence in its potential to reach $50 and beyond.
As of the time of writing, HYPE is valued at $40.44.
Bearish Outlook on SOL-Based Memecoins
While Altcoin Sherpa is bullish on HYPE, he holds a bearish view on two Solana (SOL)-based memecoins, namely dogwifhat (WIF) and Popcat (POPCAT). The trader highlighted that both WIF and POPCAT are currently in a downtrend and could see further declines if Bitcoin fails to reach new all-time highs.
Altcoin Sherpa’s chart analysis suggests that POPCAT might drop to as low as $0.22, while WIF could potentially fall to $0.60. At the time of writing, POPCAT is trading at $0.31 and WIF at $0.839.
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