A high-profile crypto analyst has warned about the major meme altcoin Dogecoin (DOGE) and two other major digital assets.
A pseudonymous analyst known as Altcoin Sherpa has told his 187,000 Twitter followers that DOGE is set to drop 25% from its current price to a key demand area around $0.057.
“DOGE: In my opinion, back to the 0.057 area again.”
Dogecoin is one of the hardest-hit crypto assets in the last week. DOGE is currently down 18% over the past seven days at the time of writing, trading at $0.0754.
Altcoin Sherpa spotted another altcoin weathering headwinds last week. Binance’s native token, BNB, could be contagious if market conditions worsen, according to traders.
He also addressed the recent scrutiny, or FUD (Fear, Uncertainty and Doubt) surrounding Binance’s finances and reserves.
“BNB: Due to the high timeframe view of BNB, we are not seeing much actionable trading here.
I’m still a longtime owner of BNB and will hold onto this for a while, and the $220 breakdown means less than $190 in my opinion.
Whether this scam is justified should be determined in terms of your risk tolerance. I think Binance is still okay, but that’s just my opinion. If you are not currently trading much, you should move your $ to your personal wallet. ”
Finally, popular traders see Ethereum rival and interoperable blockchain Polkadot (DOT) slowly breaking down to its next support level below $4.00, about 12.5% of its current price. It states that it is set to
“DOT: I forgot this one… My guess is it slowly grinds down to $4 or less. I remember when this was a very hyped new chain.”
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