One of the most popular traders believes that an altcoin layer-1 DEX is preparing to reach new highs.
Pseudonymous Altcoin Sherpa told his 248,500 social media followers that he believes Hyperliquid.HYPEThe underlying strength of the ) is still very apparent despite recent corrections in all markets.
Trader sees For now, HYPE will consolidate near its highs. It’s time to ignite a new leg-up on the way to a brand new high.
“HYPE has insane strength right now, this one got bought up quickly. wouldn’t be surprised to see a bit more chop around here but $50+ is destined, even in these crazy times.”
HYPE’s current value is $40.44.
Altcoin Sherpa has a bullish view on HYPE but is a bearish one on Solana.SOL)-based memecoins. A trader points out that the dogwifhat memecoin (WIFPopcatPOPCATBoth are currently in a decline and will likely drop to lower levels should BTC fail to reach new record highs.
“Moment of truth for many of these [coins] soon; that could have just been a lower high formed. It’s all going to be dependent on BTC. If we see it blast through the highs, we’re going up again. If not, alts probably go [down] another 30-50%. Can see some examples with WIF, POPCAT.”
According to the chart of a trader, it seems that POPCAT may fall as low as $0.22. As I write this, the current value of POPCAT was $0.31.
The trader seems to be suggesting that WIF may fall to just $0.60. WIF was trading at $0.839.
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Source: dailyhodl.com
