Expert Believes Altcoin That Has Skyrocketed Over 6,400% in One Year Is Poised to Continue its Strong Performance, Offers Outlook on Dogecoin
A prominent cryptocurrency strategist and trader has expressed optimism about the potential of a red-hot real-world asset (RWA) project, suggesting that it still has room for growth. The pseudonymous analyst, known as Altcoin Sherpa, shared with his 222,700 followers on the X social media platform that MANTRA (OM) “still looks strong.” Despite cautiousness about buying at its current level, Altcoin Sherpa believes there may be a pullback around $1.23 to $1.41. Nevertheless, he remains confident in this particular RWA project and has invested in it.
MANTRA is a crypto initiative that enables the tokenization and trading of real-world assets, including commercial properties. As of now, OM is valued at $1.13, marking an astonishing 6,421% increase from its price of $0.0176 in October 2023.
Additionally, Altcoin Sherpa has changed his stance on meme token Dogecoin (DOGE) and is now bullish on its future prospects. He voiced his belief that DOGE may not reach the same astronomical heights as in 2021 due to its market cap limitations, but he sees potential for further gains. Highlighting its high liquidity, he suggests that scaling in at around $0.10 could be a favorable strategy in light of the weekly market levels.
At the time of writing, DOGE is trading at $0.107, reflecting a 5.29% increase in the past 24 hours.
Lastly, Altcoin Sherpa speculates that Bitcoin (BTC) may undergo a retest of the $45,000 level before experiencing a breakout later this year. Although the market remains in the range low areas based on the one-day timeframe, Altcoin Sherpa still considers the $45,000 region as an area of interest. While BTC has already surpassed the $50,000 mark, the analyst sees the one-day structure as still bearish. He anticipates a possible shakeout and choppiness until late Q4.
As of now, Bitcoin is trading at $60,608, with a 4.3% increase in the last 24 hours.