A closely followed crypto analyst believes that two altcoins have the potential to skyrocket up to 5x before this cycle ends.
Pseudonymous Altcoin analyst Sherpa tells his 228,100 followers on social media platform X that he is extremely bullish on the altcoin market.
According to the analyst, even average altcoins will see a massive price rise if conditions become bullish for the crypto.
Specifically, the trader sees decentralized oracle network Chainlink (LINK) and Layer 1 protocol Algorand (ALGO) printing gains between 400% and 600% before the end of the current cycle.
“Market average for sh*tcoins as of now: probably around 3-5 times for this cycle on the low end and 5-10 times for prices on the high end.
Meaning: If you buy just about anything at this point, I expect it to increase 3-5x.
Here are two examples with LINK (and) ALGO.
Looking at the trader’s chart, he seems to predict that LINK will rise by over 350% to return to all-time highs. As for ALGO, Altcoin Sherpa shares a chart suggesting that a move of over 300% won’t even bring the coin closer to its all-time high of $3.56.
When it comes to the best memecoin Dogecoin (DOGE), Altcoin Sherpa believes the altcoin is taking a breather before triggering a new leg.
“This is the bottom you want to see for DOGE in my opinion.
Lots of volatility and range formation.
At the time of writing, DOGE is trading at $0.159.
Altcoin Sherpa also names other coins he believes will perform well once the market enters bullish territory.
“Mid-cap memes take up a lot of attention and I still think stuff like BONK/PEPE/WIF probably outperforms a large percentage of utility coins. But if you’re looking for a utility, I’d probably go:
-New parts like EIGEN
-High float/older parts like FTM (+rebrand)
-new outgoing infrastructure like monad/berachain
-new parts that only went out and down (never pumped) aka REZ, ZK and these guys
Many different ways to play the next alternative pump; be flexible and prepared.
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Featured image: Shutterstock/Salamahin/HUT Design
