Analyst Says Altcoin That’s Exploded Over 6,400% in One Year ‘Still Looks Strong,’ Updates Outlook on Dogecoin
A closely followed crypto strategist and trader says one red-hot real-world asset (RWA) project may have more upside potential.
Pseudonymous analyst Altcoin Sherpa tells his 222,700 followers on the social media platform X that MANTRA (OM) “still looks strong.”
“Consolidation in the previous range and now expansion; would be careful buying here personally and think we should see a pullback around $1.23 and $1.41. But still is one of the better RWA bets and I’ve got a bag.”
MANTRA is a crypto project that allows the tokenization and trading of real-world assets such as commercial properties.
OM is trading for $1.13 at time of writing, up 6,421% from its October 2023 price of $0.0176.
Next up, the analyst says he is flipping bullish on meme token Dogecoin (DOGE).
“To be determined if DOGE ever does insane numbers like 2021; my guess is not given the market cap. But it should still have a few x from here and is still one of the most liquid coins in crypto. $0.10 is a decent area to scale in given the one-week levels.”
DOGE is trading for $0.107 at time of writing, up 5.29% in the last 24 hours.
Lastly, the analyst suggests that Bitcoin (BTC) may retest the $45,000 level before breaking out later this year.
“BTC: we’re still in the range low areas on the one day, but I still personally view the $45,000 region as the area of interest. $50,000 has been tapped already and the one-day structure is still bearish to me. Not saying ‘it’s over’ but some sort of shakeout plus chop until late Q4 makes sense to me.”
Bitcoin is trading for $60,608 at time of writing, up 4.3% 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 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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The post Analyst Says Altcoin That’s Exploded Over 6,400% in One Year ‘Still Looks Strong,’ Updates Outlook on Dogecoin appeared first on The Daily Hodl.
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