Altcoin Sherpa Predicts More Decline for Dogecoin, Solana to Hit $190 if Resistance Breaks

Crypto analyst Altcoin Sherpa is forecasting further declines for Dogecoin (DOGE), a prominent memecoin.

According to Sherpa, Dogecoin could drop over 10% from its current price, building on its recent 20% decline this month.

Pains me to say it but $DOGE probably keeps bleeding until the .08s. I still think this is probably a decent one for this cycle for passive investors but eh pic.twitter.com/9uDMLRmrGk

— Altcoin Sherpa (@AltcoinSherpa) August 28, 2024

Sherpa’s analysis suggests that Dogecoin might continue to weaken, potentially reaching the $0.08 range. Despite this, he notes that it could still be a viable option for long-term investors.

Key support levels for Dogecoin to watch are $0.0998, $0.0855, and $0.0736, with the coin currently trading at $0.101.

READ MORE:

Cardano’s Chаng Hard Fork is Almost Here – Here is What You Need to Know

Sherpa also shares insights on Solana (SOL), predicting that it might approach the $190 mark if it manages to break through resistance at approximately $165. He advises that $120 to $150 is a good range for accumulating SOL.

$SOL I think that $135-140 should bounce.

All the morons say ‘so it could go up or down’ after a break of $165 but they don’t trade.

A break of 165 would mean price prob goes to 190 in the short term. I still think 120-150 is a good place to accumulate SOL personally pic.twitter.com/Xqp2TWriMy

— Altcoin Sherpa (@AltcoinSherpa) August 28, 2024

Solana is currently priced at $138.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.