A closely followed crypto analyst and trader believes altcoins are gearing up for a surge after a hefty correction.
Pseudonymous trader The Flow Horse tells his 200,300 followers on the social media platform X that altcoins will likely soon soar from their market bottom in a mean reversion.
[adinserter block="1"]“Putting Bitcoin aside, some of these alts are going to bounce so hard off just normal mean reversion. Might need to put together a shopping list but still feeling kind of apathetic about trading until at least July.”
The analyst is also picking Pepe (PEPE) as the memecoin he believes will outperform the others, including dogwifhat (WIF).
“Memecoins aren’t dead, but I don’t know if you want to reference WIF as the representative pair or horse to bet on. [WIF is] down against Solana from SOL all-time high (ATH), underperforming BTC from BTC ATH, underperforming both from original April lows, underperforming from the last highs.
The most fit horse is PEPE.”
PEPE is trading for $0.00001272 at time of writing, up 20% in the last 24 hours.
However, the analyst says that WIF is likely bottoming and unlikely to dip to the $1 level.
“Feelings aside, I still prefer being a buyer here rather than a seller. Getting $1 fills would be poetic but probably isn’t happening.”
WIF is trading for $2 at time of writing, up nearly 19% in the last 24 hours.
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