Trader Says Large-Cap Memecoins ‘Don’t Look Great,’ Updates Forecast on Dogecoin (DOGE) and POPCAT
A widely followed cryptocurrency trader is warning that several large-cap memecoins are printing bearish price patterns. The trader pseudonymously known as Altcoin Sherpa tells his 239,100 followers on the social media platform X that memecoins like Pepe (PEPE), Bonk (BONK) and dogwifhat (WIF) are printing lower highs and lower lows on their price charts. He suggests that top memecoins may still witness rallies over time, but they may not outperform the market like they did early last year. “Big-cap memes don’t look great overall, but this isn’t the place to be shorting in my opinion. PEPE [on the daily chart] has held up much better than BONK and WIF [on the three-day charts] but that’s probably more due to the SOL/ETH chart (ETH has outperformed SOL the last bit). Still apprehensive about how strong these will be later, but eyes on them. And by strong I mean lead like they did in Q1 2024. I know these are going to have their run/rotation...