Trader Says One Layer-1 Altcoin ‘Destined’ for New All-Time High, Warns of Potential 50% Correction for WIF and POPCAT
A widely followed trader believes that a layer-1 decentralized exchange (DEX) altcoin is gearing up for rallies to new all-time highs. Pseudonymous analyst Altcoin Sherpa tells his 248,500 followers on the social media platform X that he thinks Hyperliquid (HYPE) looks very strong despite the recent marketwide correction. The trader sees HYPE consolidating close to the highs for now before igniting a fresh leg up en route to a new record high. “HYPE has insane strength right now, this one got bought up quickly. wouldn’t be surprised to see a bit more chop around here but $50+ is destined, even in these crazy times.” Source: Altcoin Sherpa/X At time of writing, HYPE is worth $40.44. While Altcoin Sherpa is bullish on HYPE, he says he’s bearish on two Solana (SOL)-based memecoins. The trader notes that dogwifhat (WIF) and Popcat (POPCAT) are both in the midst of a downtrend and may drop to much lower levels if BTC fails to print new all-ti...