Author: The Daily Hodl

A widely followed trader is expressing bearish sentiment on a months-old memecoin built on Solana (SOL). The trader pseudonymously known as Bluntz tells his 253,400 followers on the social media platform X that dogwifhat (WIF) may be due for a correction. According to the pseudonymous trader who applies the Elliott Wave theory in his technical analysis, WIF appears to have completed a five-wave rally and now looks primed to enter an ABC corrective wave. The Elliott Wave theory states that a bullish asset tends to witness an ABC correction after completing a five-wave upside move. Says Bluntz, “I think the…

A veteran trader is warning that Ethereum’s (ETH) place as the dominant smart contract platform is not as set in stone as many believe. Pseudonymous trader The Flow Horse tells his 210,000 followers that there’s a possibility that Ethereum is like Compaq Computer Corporation, which was the top dog in its field before eventually fizzling out and being acquired by HP in 2002. He says the scenario of Ethereum succumbing to Solana (SOL) has “definitely grown.” “The possibility of Solana overtaking Ethereum has definitely grown. Current trends and sentiments among ETH’s staunchest supporters suggest an expectation for a natural mean…

Synthetic dollar protocol developer Ethena Labs has added Bitcoin (BTC) to the backing of its USDe stablecoin, the firm’s flagship product. Announcing via the social media platform X, Ethena Labs says that using Bitcoin to back USDe is “a crucial unlock which will enable USDe to scale significantly” from its current supply of $2 billion. USDe aims to be a censorship-resistant stablecoin that maintains its backing on-chain via delta-hedging staked Ethereum (ETH) collateral – a mechanism described as an “Internet Bond.” “The ‘Internet Bond’ will combine yield derived from staked Ethereum as well as the funding and basis spread from…

A closely followed crypto trader is predicting Ethereum (ETH) will reach new all-time highs (ATHs) within days. Pseudonymous trader Criptopaul tells his 135,400 followers on the social media platform X that the top altcoin historically outperforms Bitcoin (ETH/BTC) during the month of the halving event, when BTC miners’ rewards are cut in half. The next halving is expected to take place around April 19th. Says the trader, “The halving month [has arrived] and historically it has always been a crossroads for altcoin explosion and ETH/BTC reversal. Are you ready? I expect also a new ETH ATH in 30 days.” ETH/BTC…

A widely followed crypto strategist believes that one newly launched altcoin could see gains of multiples within weeks. Pseudonymous analyst Altcoin Sherpa tells his 213,900 followers on the social media platform X that cross-chain messaging protocol Wormhole (W) could head much higher after a recent airdrop of tokens and a listing on several exchanges. “W: long Wormhole for financial freedom. Wait for the air-droppers to jeet (a sell-off by extremely risk-averse investors at the slightest sign of a downturn) and then this will go much higher. Do you really think that a project that worked very closely with Jump [Trading…

A popular crypto analyst is unveiling his Ethereum (ETH) and Bitcoin (BTC) peak price predictions for the current bull market cycle. The pseudonymous analyst known as Credible tells his 384,800 followers on the social media platform X that Ethereum will surge past $10,000 at “minimum,” but notes that ETH can realistically rally to as high as $20,000. He bases the prediction on the gains he thinks Bitcoin will see. “I think there’s a chance we can come up on a peak/blow-off top near $20,000. It’s pretty simple – I think BTC can realistically 2x from our last high at $69,000…

Crypto exchange Coinbase has announced it’s adding a new Solana (SOL)-based altcoin to its listing roadmap ahead of the token’s launch. Announcing via the social media platform X, Coinbase says it’s adding Tensor (TNSR) to its listing roadmap. Coinbase’s listing roadmap is designed to give a heads-up to users before the listing of any crypto assets to prevent insider trading and promote transparency. Tensor is the most popular non-fungible token (NFT) platform on Solana, and will be launching its own token next week, according to a recent thread on X from the project. TNSR tokens will be airdropped with “treasure…

A closely followed crypto analyst believes that Dogecoin (DOGE) could hit a huge price target if the memecoin repeats a historic pattern. Crypto strategist Ali Martinez tells his 56,000 followers on the social media platform X that the dog-themed digital asset could soar by 5,900% from its current value. “I feel my fellow DEGENs have been distracted with the new shiny memecoins, but Dogecoin remains the most important altcoin in this sector. From a technical perspective, DOGE seems to mirror the 2018-2021 pattern. If so, DOGE could be at the very beginning of a massive parabolic bull run!” Dogecoin is…

A crypto strategist is issuing a warning on Ethereum, saying that ETH is now in the midst of a major correction. Pseudonymous analyst Ali Martinez tells his 56,500 followers on the social media platform X that Ethereum is now bearish after breaking below support at $3,400. The trader shares a chart suggesting that ETH may witness an over 14% decline from current levels after confirming a bear pennant breakdown. “The most brutal scenario for Ethereum right now is breaching the $3,400 support level. Such a move could confirm a bear pennant formation on the daily chart, potentially triggering a major…

A trader who rode last year’s crypto breakout thinks that Ethereum (ETH) will continue to underperform unless something monumental takes place. Pseudonymous analyst DonAlt tells his 535,700 followers on the social media platform X that he expects other altcoins to massively outperform Ethereum as soon as market conditions improve. DonAlt believes Ethereum will continue to be a laggard until ETH witnesses a catastrophic collapse. “Everything down. ETH down but ETH down less. Rejoice ETH holders your time has come (Down in USD, up relative to the rest of the sh*tters). I legit think this is the only way for ETH…