A closely watched crypto strategist and trader says a red-hot real-world asset (RWA) project may have more upside potential.
Pseudonymous analyst Altcoin Sherpa tells his 222,700 followers on the social media platform
“Consolidation in the previous range and now expansion; Personally, I would be cautious about buying here and think we should see a decline around $1.23 and $1.41. But it’s still one of the better RWA bets and I have a bag.
MANTRA is a crypto project that enables the tokenization and trading of real assets, such as commercial properties.
OM is trading at $1.13, up at the time of writing 6.421% compared to the price of $0.0176 in October 2023.
Then the analyst says yes turn around bullish on meme token Dogecoin (DOGE).
“To determine if DOGE ever hits insane numbers like 2021; my estimate is not given the market capitalization. But it should have a few more x from here and is still one of the most liquid coins in crypto. $0.10 is a decent area to scale given one-week levels.”
DOGE is trading at $0.107 at the time of writing, up 5.29% in the last 24 hours.
Finally, the analyst suggests that Bitcoin (BTC) could retest the $45,000 level before breaking through later this year.
“BTC: We are still in the low areas one day, but personally I still consider the $45,000 region as the area of interest. $50,000 has already been tapped and the one-day structure is still bearish for me. I’m not saying ‘it’s over’, but some kind of shakeout plus chop until late in the fourth quarter seems sensible to me.”
Bitcoin is trading at $60,608 at the time of writing, up 4.3% in the past 24 hours.
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Generated image: Midjourney