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Since the emergence of cryptocurrencies, Meme coins have been one of the most impactful sectors, continuing their activity at full speed. A leading market analyst mentioned that Dogecoin (DOGE) is ahead of its competitors among other altcoins.
Who is DOGE’s Biggest Competitor?
Cred, the analyst, shared on the social media platform X to his thousands of followers that he is optimistic about frog-themed meme coins, particularly Pepe (PEPE).
According to the crypto analyst, the meme coin continued to move around its all-time high even after the market correction last month. PEPE stands out as one of the pioneers in the altcoin group, according to him.
PEPE: one of the strongest altcoins, leading many others by breaking its high range (technically still testing its resistances against Bonk and Doge).
Current State of Altcoins
Cred also reviewed Dogecoin, noting that DOGE might experience a loss of strength if it retests the critical support level at $0.147.
Reaching the best support will make the chart look quite ugly, hence the options are low timeframe / shallow pullbacks or breakout follow-ups.
As of writing, DOGE was trading at $0.158, close to the breakout level identified by the analyst.
On the other hand, looking at another mentioned meme coin, Bonk (BONK), Cred states that as long as the altcoin remains above the midpoint of the $0.000025 range, it will not exit its bullish outlook.
Strong at low levels, high in the local range. Shallow pullbacks and/or breakout punts are preferred. Pulling back to the low range will be a tough outlook.
As of writing, BONK continues to trade at $0.00002518.
The last meme coin on the analyst’s list is dogwifhat (WIF). According to the analyst, WIF continues to trade in the midst of a new uptrend that will become invalid if it falls below $3.
Assuming a daily close has not yet occurred, this move will mean a higher peak + return to the old range on the daily timeframe. The same area will serve as a line in the sand for bias, i.e., below $3.
As of writing, WIF, ranked within the top 5 meme coins, is trading at $3.48.
