An experienced trader shares his positive outlook on a layer-1 decentralized exchange (DEX) altcoin, suggesting that it is poised for significant price increases.
Known as Altcoin Sherpa, the analyst informs his large following on X that Hyperliquid (HYPE) shows notable strength despite recent market fluctuations.
The trader observes HYPE consolidating near its all-time highs, indicating a potential upward movement towards a new record peak.
“HYPE is showing remarkable resilience at the moment and seems poised for further growth. We might experience some price fluctuations, but a target of $50 or higher seems probable, even in the current volatile market conditions.”
As of the latest update, HYPE is valued at $40.44.
While optimistic about HYPE, Altcoin Sherpa holds a bearish view on two Solana (SOL)-based meme coins. He warns that dogwifhat (WIF) and Popcat (POPCAT) are currently in a downtrend and could face further declines if Bitcoin fails to reach new all-time highs.
“The coming days will be crucial for many of these tokens; a possible lower high formation is on the horizon. The market’s direction heavily relies on Bitcoin’s performance. A breakthrough to new highs could lift altcoins, but without it, a 30-50% drop is conceivable, as seen with WIF and POPCAT.”
According to Altcoin Sherpa’s analysis, POPCAT could potentially decline to as low as $0.22. Presently, POPCAT is trading at $0.31.
Similarly, the trader’s projections suggest that WIF could drop to $0.60. At the time of writing, WIF is priced at $0.839.
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