A top trader is warning crypto bears that their time to drive the market lower is running out.
Bullish on Dogwifhat (WIF)
The analyst, known as the Flow Horse, is bullish on the Solana-based memecoin dogwifhat (WIF). He believes WIF will continue to perform well until the end of the bull market.
Memecoin Dilution
While many memecoins have been created this year, the Flow Horse believes traders will continue to favor the most popular ones.
Short Squeeze Risk
The analyst also warns that crypto bears are at risk of a short squeeze. This occurs when traders who borrow an asset to sell it for lower are forced to buy it back as the market moves against them.
Altcoins on the Rise
The Flow Horse notes that altcoins have been rallying while Bitcoin has been consolidating. This could lead to a further squeeze on bears.
Disclaimer:
This article is for informational purposes only and should not be taken as investment advice.
