While the cryptocurrency market has been experiencing significant volatility recently, popular doggy-themed meme coin projects have also seen significant price drops. Analysts warn that these declines are far from over. Experts predict that meme coins, especially Dogecoin (WIF) and Solana (SOL)-based Pepe (PEPE), could lose more value in the coming period. In this article, we will examine the meme coin analysis conducted by popular crypto strategist Credible Crypto on his YouTube channel. The analyst provides important information for investors by predicting different scenarios for WIF, Pepe, and Dogecoin (DOGE).
Warning for meme coin projects
While the cryptocurrency market has been experiencing significant volatility recently, popular dog-themed meme coins have also seen significant price drops. And analysts warn that these declines are far from over. In a new analysis on his YouTube channel, popular crypto strategist Credible Crypto has predicted that meme coins, especially dogwifhat (WIF) and Solana (SOL)-based Pepe (PEPE), could lose even more value in the coming period.
In the video shared on his channel with over 55,500 subscribers, Credible Crypto mentioned that there is no bottom for WIF yet and that there could be a drop to $0.80 in the coming days. According to the analyst’s chart, we could also see moderate jumps during this decline. WIF, which was trading at $1.60 at the time of writing, has registered a rise of around 3% in the last 24 hours.
A very sharp decline in PEPE is expected.
Credible Crypto has predicted a sharp decline for Pepe. According to the analyst, Pepe could lose nearly 90% of its value from its all-time high of $0.0000171. Again, according to the analyst’s chart, Pepe could drop to $0.00000185. Pepe, which was trading at $0.00000876 at the time of writing, has not suffered any losses in the last 24 hours.
The analysis predicts a different scenario for Dogecoin (DOGE). Credible Crypto stated that Dogecoin could see an upward movement if Bitcoin rises again, saying: “If Bitcoin rises, currencies like Dogecoin could see some relief. The first support level has been reached, and it makes sense to see a bounce from here. With Bitcoin, we could see a bounce, then hit a resistance level and Dogecoin could continue to lose value while Bitcoin continues to rise, which would mean a long-term bearish move.”
Credible Crypto stated that one possible scenario for DOGE could be a drop to $0.084, then a retest of resistance around $0.15, and eventually a drop to $0.06. DOGE, which was trading at $0.108 at the time of writing, has seen a slight increase in the last 24 hours. Credible Crypto’s analysis should not be considered investment advice, but it is important for investors to follow developments in the cryptocurrency market and conduct their own research.
To keep up with the latest breaking news, follow us on Twitter, Facebook and Instagram, and join our Telegram and YouTube channels.