- A widely respected crypto analyst predicts sustained momentum for a meme asset that has experienced significant gains over the past eight months.
- According to the pseudonymous crypto trader Altcoin Sherpa, the memecoin MAGA (TRUMP) is poised to continue its upward trajectory despite a recent minor setback.
- In a strategic update to his 217,000 followers on the social media platform X, Altcoin Sherpa expressed confidence that MAGA (TRUMP) will “go berserk” moving forward.
Top crypto analyst foresees continued rally for standout meme asset with significant gains over last eight months.
Analyst Predicts Bullish Outcome for MAGA (TRUMP) Memecoin
In a freshly released strategy session, Altcoin Sherpa reveals plans to increase his holdings in MAGA (TRUMP), underscoring his bullish stance despite a recent pullback to the 0.50 Fibonacci retracement level. The analyst believes that mainstream media coverage, particularly as the election season intensifies, will continue to drive the asset’s price higher.
Chart Analysis and Future Price Projections
Altcoin Sherpa’s chart analysis suggests that MAGA (TRUMP) could reach the $18 mark by the end of June or the start of July. Currently, TRUMP is trading at $12.43, a slight uptick from its last valuation. The coin has experienced a phenomenal rise from $0.0199 on October 7th, marking a gain of 61,759%.
Notcoin (NOT): A Promising Altcoin in Consolidation Phase
Turning attention to another hot altcoin, Notcoin (NOT), Altcoin Sherpa notes that the asset is currently forming a consolidation pattern, indicative of a potentially stable top. This stands in contrast to earlier periods characterized by high volatility and severe price fluctuations.
Price Action and Market Sentiment
Notcoin (NOT) is trading at $0.0215, which represents over a 300% increase from its price of $0.00527 set on May 26th. The cryptocurrency appears to be settling into a more stable trading pattern, signaling potentially positive long-term prospects.
Strategic Accumulation of Alternative Cryptocurrencies
Altcoin Sherpa advises investors to amass what he terms “shitcoins” from now until the end of Q4 2024. He predicts that Bitcoin’s (BTC) market dominance will wane during this period, paving the way for altcoins to achieve notable gains.
Outlook for Bitcoin (BTC) and Altcoins
According to Altcoin Sherpa, investors should anticipate a decline in Bitcoin’s dominance index, which could foster a more favorable environment for altcoins. He recommends careful accumulation in anticipation of a potential altcoin rally later in the year.
Conclusion
Altcoin Sherpa’s analysis suggests that while Bitcoin’s dominance may decline, there is significant potential for altcoins to perform well in the upcoming quarters. By strategically accumulating lesser-known assets, investors may position themselves for potential gains as the market landscape evolves.
