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A widely followed crypto analyst says that one dog-themed memecoin that has printed six-figure gains in just ten months is on the brink of another breakout.
In a new strategy session, crypto trader Rekt Capital tells his 501,600 followers on the social media platform X Dogecoin (DOGE) rival dogwifhat (WIF) looks ready to skyrocket once again.
“WIF – Dogwifhat has broken its macro downtrend. WIF is on the cusp of beginning a new macro uptrend.”
WIF is trading for $2.35 at time of writing, a staggering 151,512% gain since its low of $0.00155 in December 2023 and a 5% gain during the last day.
Moving on to fellow meme asset Pepe (PEPE), Rekt Capital says that it too is breaking out of months of stagnation.
“PEPE also broke its multi-month downtrend.”
PEPE is trading for $0.000011 at time of writing, an 18% gain during the last 24 hours.
Concluding his analysis with the top crypto asset by market cap, the trader says that Bitcoin (BTC) is finally ready to break out of its channel top, which it has failed to do over the last few months.
“Bitcoin is getting closer to the channel top (~$67,000). Over the past months, BTC would reject at this area (red), which is why it is essential that BTC weekly closes above the channel top. History suggests BTC should be able [to] succeed on this next attempt.”
Bitcoin is trading for $66,248 at time of writing, a 2.5% increase during the last 24 hours.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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