Trader Says Dogecoin Rival Has Additional Upside Potential, Updates Outlook on Bitcoin and Worldcoin

Wide­ly fol­lowed pseu­do­ny­mous trad­er Alt­coin Sher­pa says one Doge­coin (DOGE) rival could make a big­ger move to the upside.

Alt­coin Sher­pa tells his 196,400 fol­low­ers on the social media plat­form X that after break­ing through a key resis­tance lev­el, meme­coin Pepe (PEPE) may not be done rallying.

“PEPE: nice move today, I didn’t real­ly see this one com­ing. The vol­ume pro­file shows three sig­nif­i­cant resis­tance areas, with the first one get­ting bro­ken now. I high­ly doubt this is a full rever­sal, but a bit more upside may be in store. Would be cau­tious with this one overall.”

Look­ing at his chart, the next resis­tance lev­el appears to be between the price range of $0.00000078 to $0.000000820.

Pepe is trad­ing for $0.000000716 at time of writ­ing, up 16.9% in the last 24 hours.

Next, the trad­er weighs in on Bit­coin (BTC) and says the mar­ket remains unclear as key expo­nen­tial mov­ing aver­ages (EMAs) con­verge just above the cryp­to king’s price, act­ing as resistance.

“BTC one-day thoughts: over­all mar­ket struc­ture hasn’t changed much IMO (in my opin­ion). We’re still either form­ing some sort of weird high­er low OR con­sol­i­dat­ing for the next leg down. The clus­ter of one-day EMAs all act­ing as resis­tance for now, but no clear change.”

The trad­er pre­dicts Bit­coin will decline to fin­ish out the year.

“I don’t per­son­al­ly have a super strong opin­ion in regards to where price goes. Gut says we move up to $28,000 in the mid-term, but I don’t real­ly know. The last recent high estab­lished in mid-July was an equal high from before and not tru­ly a high­er high IMO. 

I think we’re still in an over­all chop fest sim­i­lar to 2019, where we saw a big move up and we’ll see a slow grind down for the rest of 2023. Prob­a­bly slow grind down IMO and then we have some good times in December/January as always.” 

Bit­coin is trad­ing for $26,595 at time of writ­ing, up 0.1% in the last 24 hours.

Last­ly, the trad­er says he’s keep­ing an eye on the AI-based alt­coin World­coin (WLD). Accord­ing to Alt­coin Sher­pa, WLD might be in a posi­tion to wit­ness a price dip after a brief ral­ly as it now trades close to a key resis­tance level.

“WLD: Total shit­coin, but I think that this one makes a low­er high. I’m in since $1.42ish.”

World­coin is trad­ing for $1.62 at time of writ­ing, up 7.5% in 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 loses 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.

Gen­er­at­ed Image: Midjourney