Categories: Altcoins

Trader Predicts Mid-Cap Altcoin Could Explode 200%+ by August, Maps Path Forward for Dogecoin and Solana


A closely followed crypto analyst says that one mid-cap altcoin looks primed to quadruple by August while updating his outlook on Dogecoin (DOGE) and Solana (SOL).

In a new strategy session, crypto trader Ali Martinez tells his 139,600 followers on the social media platform X that Pudgy Penguin (PENGU), the native asset of a non-fungible token (NFT) collection with the same name, appears ready to skyrocket aided by the launch of its upcoming exchange-traded fund (ETF).

“Slap yourself if you are sleeping on PENGU. This is a textbook bullish retest. $0.060 by August is just the start. Once the ETF gets approved, who knows how far this can go.”

Source: Ali Martinez/X

PENGU is trading for $0.019 at time of writing, a 31.4% increase during the last 24 hours. A rise to Martinez’s target would represent a 216% gain for the asset.

Moving on to the popular meme asset DOGE, Martinez says that every time it forms a specific pattern, its price tends to rise. The analyst says he envisions the dog-themed digital asset rising to between $0.20 and $0.25.

“Every time Dogecoin forms this pattern, price takes off. Right now, Dogecoin is sitting at the bottom of a parallel channel. A buying spike here could send Dogecoin to $0.20 and maybe even $0.25.”

DOGE is trading for $0.179 at time of writing, a 4% gain on the day.

Concluding his analysis with the smart contract platform Solana, Martinez notes that the asset has broken through its resistance zone and is on its way to a price tag of $164 by the end of the week.

“Solana is forming a symmetrical triangle, and an 8% move could be next. A close above $153 could send Solana above $164.”

SOL is trading for $156 at time of writing, a 1.6% gain on the day.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Felicity Underwood

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