A well-known crypto trader predicts that altcoins are on the verge of a surge following a significant correction.
The trader, known as The Flow Horse, shares with his 200,300 followers on the social media platform X that altcoins are likely to rebound from their market lows in a mean reversion.
“Setting Bitcoin aside, some of these altcoins are set to rebound significantly just through normal mean reversion. I might have to put together a list of potential buys, but I’m not feeling very motivated to trade until at least July.”
The analyst also singles out Pepe (PEPE) as the memecoin that he believes will outperform others, including dogwifhat (WIF).
“Memecoins are still relevant, but I’m not sure if WIF is the best choice to invest in. It’s down against Solana from its all-time high (ATH), underperforming BTC from its ATH, underperforming both from the original April lows, and underperforming from the last highs. The strongest contender is PEPE.”
At the time of writing, PEPE is trading for $0.00001272, marking a 20% increase in the last 24 hours.
However, the analyst suggests that WIF is likely hitting its bottom and is unlikely to drop to the $1 level.
“Despite my feelings, I still prefer to buy here rather than sell. It would be poetic to get $1 fills, but it’s probably not going to happen.”
At the time of writing, WIF is trading for $2, showing an increase of nearly 19% in the last 24 hours.
Source: The Flow Horse/X
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