A popular crypto analyst, known as Sherpa, is warning about a Solana-based memecoin, Popcat (POPCAT). He says it’s reached a make-or-break point.
Popcat at a Crossroads
Sherpa, who boasts a huge following on X, shared a chart showing Popcat potentially forming a “head and shoulders” pattern – a bearish signal in technical analysis. This means the coin could be about to crash if it loses its current support level. Despite a massive 21,147% year-to-date surge from a January low of $0.00379 to its current price of around $0.80, Sherpa’s warning is serious.
Bitcoin: Still Bullish?
Sherpa remains optimistic about Bitcoin (BTC), even after a recent dip below $100,000. He cites several reasons for his bullish outlook:
- Bitcoin Dominance: Bitcoin’s share of the overall crypto market hasn’t decreased significantly.
- Ethereum’s Potential:
He believes Ethereum hasn’t fully rallied yet.
- January Effect: January is historically a strong month for crypto.
- Trump Factor: Sherpa points to President Trump’s pro-crypto stance, reported ownership of crypto, and involvement in a DeFi project as positive signs.
Bitcoin is currently trading around $100,624. While its dominance (its market share compared to other cryptos) has fallen slightly from a recent high, it remains substantial at 54.7%.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies. Investing in crypto is risky, and you could lose money./p>
