A well-known crypto analyst is optimistic about the potential for significant gains from a popular memecoin later this year.

Altcoin Sherpa, a pseudonymous crypto trader with 217,100 followers on X, shared his bullish outlook on Dogecoin (DOGE) on social media. Despite some short-term volatility in meme trends, he believes that DOGE has strong potential on higher timeframe charts. While expecting some choppy price action in the near future, he advises against rushing to buy new positions and emphasizes the importance of patience. Sherpa predicts that DOGE could see substantial growth later in the year.

Analyzing his chart, Sherpa suggests that DOGE might trade within a range of $0.12 to $0.17 before experiencing a breakout in 2024. Currently, DOGE is priced at $0.13, showing a decrease of over 4% in the past 24 hours.

Sherpa also cautions investors about Ondo Finance (ONDO), a project specializing in tokenizing real-world assets. He anticipates that ONDO could retest lower levels in the short term, with a potential drop to $1.10 before a minor bounce at $1.19. Despite this, he maintains a positive outlook on the project from a real-world asset perspective.

ONDO is currently trading at $1.22, down 1.4% in the last 24 hours.

Turning to BNB, the utility token for the BNB Chain ecosystem, Sherpa suggests that it may retrace to Fibonacci levels before resuming its upward trend. He highlights key support levels at $600, indicating a potential entry point for investors.

BNB is currently priced at $609, showing a decrease of nearly 6% in the last 24 hours.

Lastly, Sherpa mentions the Internet of Things (IoT) project Jasmy (JASMY), noting its potential for further growth if it maintains support at $0.0377. Although he has not invested in the project, he acknowledges its strength and potential for upside movement.

JASMY is currently trading at $0.0357, down nearly 6% in the last 24 hours.

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Disclaimer: The opinions expressed by Altcoin Sherpa are not investment advice. Investors are advised to conduct their own research before engaging in high-risk investments in Bitcoin, cryptocurrency, or digital assets. All trading activities are carried out at the individual’s own risk, and any resulting losses are their responsibility. Altcoin Sherpa does not endorse the buying or selling of any cryptocurrencies or digital assets, nor do they provide investment advice. Please be aware that Altcoin Sherpa engages in affiliate marketing.