Crypto analyst and trader, Altcoin Sherpa, has updated his forecast on several altcoins, including three memecoins. He believes that Pepe (PEPE), a meme token based on Ethereum (ETH), is preparing for a significant breakout rally. Altcoin Sherpa suggests that PEPE will surpass its immediate resistance level of $0.0000128, as it is currently valued at $0.0000177.
Altcoin Sherpa also identifies two meme tokens based on Solana (SOL), namely dogwifhat (WIF) and Popcat (POPCAT), as potential breakout candidates. WIF is approaching its diagonal resistance at $2.50, while POPCAT needs to surpass the $0.9389 level. Currently, WIF is valued at $2.33, and POPCAT is trading at $0.7339.
In addition to the memecoins, Altcoin Sherpa expresses optimism about Solana itself, noting that there are only a few key levels standing in its way before reaching an all-time high. The current value of Solana is $180.
The trader also mentions his bullish sentiment towards Core (CORE), a project that aims to be a highly scalable smart contract platform complementing Bitcoin (BTC). With the 200-day exponential moving average (EMA) tested, Altcoin Sherpa expects CORE to make further gains. At present, CORE is trading at $1.32.
However, Altcoin Sherpa is less optimistic about Toncoin (TON), a layer-1 project, in the medium term. He believes that TON may face challenges and possibly test the $5 level (200-day EMA) in the coming weeks. Nonetheless, he maintains a long-term bullish outlook for TON. Currently, TON is worth $6.62.
Overall, Altcoin Sherpa provides insights into the potential performance of these altcoins, highlighting potential breakout opportunities for memecoins and expressing positive sentiments towards Solana and Core, while remaining cautious on Toncoin in the short term.