Cryptocurrency Trader Altcoin Sherpa Is Bullish on Popcat (POPCAT), Says Cat-Oriented Memecoins 'Will Do Pretty Well'

The analyst pseudonymously known as Altcoin Sherpa tells his 218,500 followers on the social media platform Twitter that he is “still bullish” on Popcat (POPCAT).

A popular cryptocurrency analyst and trader is sharing his perspective on a relatively new memecoin built on the Solana (SOL) blockchain.

The analyst, who is known pseudonymously as Altcoin Sherpa, tells his 218,500 followers on the social media platform X that he is “still bullish” on Popcat (POPCAT).

“Cat beta will do pretty well and play catch-up. If this sells off, all cat beta is going to die.”

According to the pseudonymous analyst, if POPCAT forms a head and shoulders pattern on the four-hour chart, the memecoin could end up plunging lower. A head and shoulders pattern is typically considered a bearish reversal pattern in technical analysis.

At time of writing, POPCAT is trading at $0.871, up by 22,881% from the January 5th low of $0.00379.

The pseudonymous analyst also gives his thoughts on Dogecoin (DOGE). According to the pseudonymous analyst, the leading memecoin by market capitalization could have bottomed out and could now be preparing for a consolidation phase after a pullback before a “stronger move up.”

Dogecoin is trading at $0.133 at time of writing.

Next, Altcoin Sherpa discusses Ethereum (ETH). According to the analyst, the second-largest crypto asset could experience increased volatility following the approval of spot Ethereum exchange-traded funds (ETFs) in the US. The pseudonymous analyst adds that Ethereum’s support level at around $3,350 could serve as a potential entry point for a long position.

Ethereum is trading at $3,445 at time of writing.

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