A widely followed crypto trader and analyst is warning that one top-100 altcoin could suddenly collapse and lose all of its value.
In a new strategy session, pseudonymous crypto analyst Altcoin Sherpa tells his 217,900 followers on the social media platform X that Sam Altman’s “proof-of-person” project Worldcoin (WLD) is at risk of sinking to $0.
“WLD is going to dump to $0 eventually but not sure when that happens. This will be an excellent short though and probably one of the best ways to hedge your exposure.”
The analyst refers to another social media user’s post warning about the project’s fundamentals, including upcoming Worldcoin token unlocks. Unlocks are often perceived as bearish given the new sellable supply.
Worldcoin is trading for $3.03 at time of writing, up 16.7% in the last 24 hours.
Next up, the analyst lays out possible paths forward for Bitcoin (BTC) after reclaiming the mid-$60,000 range by looking at prior support and resistance levels.
“BTC: three different scenarios:
- Dump to $63,000/return the pump.
- Dump to $60,000/return the pump.
- Dump to $60,000 (with some bounces)/die.
Most hopeful is just breaking this level without pullback and going to $70,000. Fingers crossed…
Wouldn’t personally rush into a position if I were you. I think that we see some sort of pullback soon (which is healthy and good). When people are screaming it’s done, dead, you can bid on the next big red day.”
Bitcoin is trading for $64,657 at time of writing, up slightly in the last 24 hours.
Lastly, the analyst says memecoin Pepe (PEPE) will likely revisit Fibonacci retracement levels at $0.00001112 or $0.00001057.
“PEPE: bidding these areas.”
Pepe is trading for $0.00001183 at Tim of writing, down nearly 2% in the last 24 hours.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
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.
Generated Image: DALLE3
The post Crypto Trader Says Top-100 Altcoin Primed to Nosedive, Updates Outlook on Bitcoin and Pepe appeared first on The Daily Hodl.