A high-profile trader says that Dogecoin (DOGE) and one other asset are preparing for liftoff as Bitcoin edges toward $45,000 and Ethereum reclaims $3,000.
In a tweet to his 156,000 followers, Smart Contracter predicts that Dogecoin will break out of its bear trend and skyrocket to as high as $0.41.
“Woof woof, DOGE ironically looking primed and breaking key downtrend, is meme [season] back?
Looking like one of the slow movers but not for long [in my opinion].”
At time of writing, DOGE is up 22.4% in 24 hours according to CoinGecko.
Smart Contracter also says that indexing protocol The Graph (GRT) might turn bullish after sitting in a prolonged accumulation phase.
“GRT got smoked from the top, -85% peak to trough but has some really nice accumulation going on on the daily timeframe on the USD pair, plus the BTC pair has done a clean 5 wave up from the lows. This one gets sent [in my opinion].”
The pseudonymous trader also says that he is rotating profits he’s made off CryptoPunks, which are some of the first non-fungible tokens (NFTs), or digital art, minted on the Ethereum blockchain. Smart Contracter says he’s purchasing Meebits, a new NFT project, as trading volume in the sector soars.
“Just sold a punk for +50% what I paid at the start of the month, gonna roll those profits into some Meebits next.
Larvalabs NFTs are the only NFTs I’ve ever made money on so [probably] gonna just stick with them.”
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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 loses 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.
Featured Image: Shutterstock/Tithi Luadthong