A widely followed crypto analyst says that one top-20 altcoin will eventually skyrocket by 85% while updating his outlook on Bitcoin (BTC) and the meme asset dogwifhat (WIF).
In a new thread, crypto trader Altcoin Sherpa tells his 245,800 followers on the social media platform X that layer-1 blockchain Hyperliquid (HYPE) is a standout digital asset that will eventually hit a price tag of over $50.
“Some interesting looking charts out there. HYPE is a standout, I still own zero right now but this is still one of the best projects in crypto and I will continue bull posting it. Still not sure if I’d buy here given the landscape but it should go to $50+ eventually.”
However, the trader does not give a timeframe of when the asset could rise to $50, a rise of about 85%. HYPE is trading for $27.50 at time of writing, a 10.5% increase during the last 24 hours.
Moving on to the crypto king, the trader says he expects BTC and altcoins to dip sometime before June, presenting buying opportunities for some and panic for others.
“If wanting to buy for longer-term positions and you are not as active: probably wait for BTC to have a dip relatively soon. Anywhere from low to mid $90,000s is my guess/hope. Alts probably go -20% or 30% lower (or even more from the highs on some) [and] people will scream ‘it’s over.'”
The top crypto asset by market cap is trading for $103,950 at time of writing, a 1.6% gain during the last 24 hours.
Concluding his analysis with the memecoin WIF, Sherpa says that some of its points of potential reversal may be of interest to traders.
“Some retraces on some good coins still, I am interested in playing some of these bounces… But coins like WIF have some interesting bounce areas coming. Would view the $0.90 region as one here.”
The trader’s chart indicates that WIF will bounce off the $0.90 price tag sometime by the end of the month. WIF is trading for $1.12 at time of writing, a 10.5% gain on the day.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
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.
Generated Image: Midjourney
