A widely followed crypto trader is issuing a warning about two artificial intelligence (AI)-powered altcoins, saying history shows a 50% decline would be the best-case scenario for them.
In a new thread on social media platform X, pseudonymous crypto analyst Altcoin Sherpa tells his 237,500 followers on social media platform ) listed on Binance futures are likely a sell. current event.
According to Sherpa, recent history shows that when assets are listed on Binance futures, their prices tend to experience sharp declines. The trader cites memecoins Fartcoin (FARTCOIN), Just a chill guy (CHILLGUY), Moo Deng (MOODENG), Goatseus Maximus (GOAT) and Peanut the Squirrel (PNUT) as examples.
“I own both ai16z and Zerebro and they will be listed on Binance futures. Recent history shows that this is NOT a bullish event and you can generally expect a -50% retracement (FARTCOIN) in the best case scenario or much worse (GOAT, Chillguy, Pnut, Moodeng).
The trader’s chart shows that Fartcoin saw its Solana pair (FARTCOIN/SOL) decline by 48% after its listing on Binance futures. However, the chart also shows that the asset rebounded and subsequently reached a new all-time high.
Earlier this week, Binance announced that it would be expanding its futures product line, including offerings for Zerebro and AI16z.
ZEREBRO and AI16z are trading at $0.607 and $2.10 respectively at the time of writing. On November 3, they were worth just $0.0058 and $0.109, representing increases of over 10,000% and 19,000%.
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