A closely watched crypto analyst believes that two altcoins have the potential to skyrocket as much as 5x before this cycle is over.
Pseudonymous analyst Altcoin Sherpa tells his 228,100 followers on the social media platform X indicate that he is extremely optimistic about the altcoin market.
According to the analyst, even average altcoins will see massive price increases if conditions for crypto turn bullish.
Specifically, the trader sees decentralized oracle network Chainlink (LINK) and layer-1 protocol Algorand (ALGO) printing profits between 400% and 600% before the current cycle comes to an end.
“Market average for sh*tcoins as of now: probably about 3-5x for this cycle on the low side and 5-10x for prices on the high side.
Meaning: If you buy pretty much anything right now, I expect it to go 3-5x.
Here are two examples with LINK [and] ALGO.”
Looking at the trader’s chart, he seems to predict that LINK will rise over 350% to reach all-time highs again. As for ALGO, Altcoin Sherpa shares a chart suggesting that a move of more than 300% won’t even take the coin close to its all-time high of $3.56.
As for the top memecoin Dogecoin (DOGE), Altcoin Sherpa thinks the altcoin is taking a breather before taking another step up.
“This, in my opinion, is the bottom you want to see for DOGE.
A lot of volatility and bandwidth formation.”
At the time of writing, DOGE is trading at $0.159.
Altcoin Sherpa too names other coins that he thinks will do well once the market enters full bull territory.
“Midcap memes take up a lot of attention and I still think things like BONK/PEPE/WIF probably outperform a large percentage of utility coins. But if you’re looking for utility, I’d probably go:
-New coins like OWN
-High float/older coins like FTM (+rebrand)
-new infrastructure comes out like monad/berachain
-new coins that only came out and down (never pumped), also known as REZ, ZK and similar types
Lots of different ways to play the upcoming alt pump; Be flexible and prepared.”
Don’t miss a beat – Subscribe to receive email alerts straight to your inbox
Check price action
Follow us further X, Facebook And Telegram
Surf to the Daily Hodl mix
Featured image: Shutterstock/Salamahin/HUT design
