'The Hat Is Covering The Eyes Of WIF Holders': Veteran Trader Doubles Down On Meme Coin Bear Thesis
Portfolio Pulse from Khyathi Dalal
Veteran trader DonAlt has expressed a bearish outlook on Dogwifhat (WIF) and the broader meme coin market, citing market saturation and poor technical outlooks. He also critiques the current Bitcoin price levels and the misguided analogy linking the GameStop rally to meme coins.
May 16, 2024 | 7:15 pm
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DonAlt critiques the current Bitcoin price levels, suggesting that the influx of speculators has exacerbated the problem. He believes that almost all people willing to buy meme coins have already entered the market.
DonAlt's bearish outlook on Bitcoin suggests that the current price levels are unsustainable due to the influx of speculators. This could lead to a short-term price decline.
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RELEVANCE 80