One of the most popular cryptocurrency traders warns that some large-cap tokens have bearish patterns in their price.
Altcoin Sherpa is a pseudonym for the trader. tells His 239,100 subscribers on social media platform X who memecoins (like Pepe) like.PEPEBonkBONKThe dogwifhat is a wearable (WIFPrice charts show lower highs, and lower lows.
According to him, top memecoins will still experience rallies in time, but not as much as early last year.
PEPE: “Big-cap memes don’t really look good, but I think this isn’t the right place to make a short. PEPE [on the daily chart] The BONK is more resistant than WIF and BONK [on the three-day charts] SOL has performed better than SOL over the last few weeks.
But I am still worried about the strength of these later. Strong means they’ll be leading the pack like in Q1 2020. They will rotate and run just like everything else. But, can they lead the market again? Let’s see.”
PEPE has fallen 3.5% over the past 24 hours to $0.0000169.
BONK has fallen 2.5% in value today, trading at $0.000264.
WIF currently trades at $1.49. This is down 2.9% over the last 24 hour.
The next step is the trader suggests Dogecoin is a cryptocurrency (DOGE() could break out when it fluctuates around the Fibonacci level of $0.33. The Fibonacci tool is used by traders to identify potential entry or exit points for an investment based on Fibonacci ratio.
“DOGE: not too many thoughts on this, think that it’s going to make a decent-sized move when alts go but not sure if it’s going to lead like we saw in early November. Probably a fine buy, but would be patient.”
DOGE currently trades at $0.33, an increase of 1.1% over the past 24 hours.
The trader is last but not least says PopcatPOPCATSolanaSOL)-based memecoin, may be close to carving a local market bottom after a steep correction.
“POPCAT has fallen 75% and in a high volume node region, this isn’t the place to be shorting. I am actually thinking about buying it. Still think cats do some catch-up to dogs later.”
POPCAT has fallen 2.6% to $0.55 in the past 24 hours.
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