- Volatile fluctuations have greatly impacted the crypto market recently, especially affecting popular dog-themed meme coins.
- Analysts warn that the decline in these particular assets might not be over yet.
- Prominent crypto strategist Credible Crypto offers key insights on the potential trajectories of several meme coins.
Explore the insights of acclaimed crypto analyst Credible Crypto as he forewarns about potential declines in popular meme coins like WIF, PEPE, and DOGE.
Market Volatility Hits Meme Coins Hard
As the cryptocurrency market experiences significant volatility, meme coins like dog-themed tokens have not been spared. Noteworthy analyst Credible Crypto has indicated through his recent analysis that meme coins Solana-based Dogwifhat (WIF) and Pepe (PEPE) might continue their downtrend. His insights, shared on his YouTube channel, suggest further depreciation in their value in the near future.
Insights on Dogwifhat (WIF)
According to Credible Crypto, Dogwifhat (WIF) has not yet established a bottom, indicating a potential dip to around $0.80. Even with some intermediate price bounces observed on his chart, WIF, which was trading at $1.60 at the time of his video, could see further losses. Despite a recent 3% daily increase, the overall forecast for WIF remains bleak.
Pepe (PEPE) Expected to Plummet Further
Credible Crypto also predicts a steep decline for Pepe (PEPE). He suggests that PEPE, currently valued at $0.00000876, could plunge by nearly 90% from its all-time high of $0.0000171 to around $0.00000185. No recent changes in price further corroborate this bearish outlook, emphasizing the precarious nature of PEPE’s position in the market.
Dogecoin (DOGE) Could Experience a Different Trend
The analysis shines a different light on Dogecoin (DOGE). The veteran analyst postulates that in the event of a Bitcoin (BTC) rally, DOGE might see a temporary price increase. However, the outlook remains mixed. Initial support levels have been met, suggesting a brief price jump, followed potentially by a struggle at resistance levels near $0.15. Ultimately, DOGE might drop to around $0.06. At the time of review, DOGE was trading at $0.108, reflecting a slight daily increase.
Conclusion
Credible Crypto’s analysis offers key takeaways for investors navigating the volatile waters of meme coins. Although his perspectives do not serve as investment advice, staying informed on market dynamics and conducting individual research remains crucial. Investors are encouraged to monitor ongoing market developments and adopt well-informed strategies.
