Cryptocurrencies continue to progress in a way that delights investors today. BTC’s price rebounded from the $64,000 level to $67,000, causing the entire market to stir. While these events unfolded, a well-known analyst examined one of the recent popular meme coins, DOGE, and Ethereum.
POPCAT Commentary
A closely followed crypto analyst and trader made significant statements about one of the meme coins created on the Solana (SOL) blockchain, which has not been around for long. The analyst, known as Altcoin Sherpa, expressed his continued bullish sentiment on Popcat (POPCAT) in his statements on X.
According to Altcoin Sherpa, cat-themed meme coins, which have been gaining more attention recently, will perform well in the future and try to catch up with dog and frog-themed projects.
Despite this bullish expectation, Altcoin Sherpa noted that if POPCAT forms a head and shoulders pattern in its four-hour chart analysis, the meme coin could move downward. The head and shoulders pattern is generally interpreted as a bearish reversal pattern in technical analysis.
The analyst’s comment on the matter was as follows:
If this happens and Popcat is sold, all cat betas will die.
As of the time of writing, after an 8% increase in the last 24 hours, it is trading at $0.8757. According to Coinmarketcap data, it has increased by 5319% in the last year.
Dogecoin Price Update
After POPCAT, the analyst turned his attention to Dogecoin (DOGE), which is undoubtedly at the top of the meme coin market, and made significant statements. According to the analyst’s prediction, DOGE seems to have already visited its bottom level and may be in a consolidation phase before an upward move.
Dogecoin’s price reached $0.1292 after a 4.32% increase in the last 24 hours, bringing its market cap close to $19 billion again. It continues to hold the 8th position in market cap rankings.
Ethereum Analysis
Lastly, the analyst examined Ethereum (ETH), the second-largest crypto asset by market cap, and emphasized that ETH could continue to move with high volatility following the approval of spot Ethereum ETFs in the US. According to the analyst, although it is currently lower, the former support level at $3,350 could offer a good opportunity for long position followers in the future.
As of the time of writing, Ethereum’s price appears to have settled back to the $3,256 region after a 3% increase.
