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.”
Featured Image: Shutterstock/Tithi Luadthong