Crypto strategist and trader Josh Rager is a keeping a watchful eye on a new crypto token that has skyrocketed by about 6,200% in less than a month.
Rager tells his 87,000 Twitter followers he sees Shroom.Finance (SHROOM) doubling in value in the next 30 days.
“SHROOM is currently near $0.01 and if MEME can go from $30 to $1600 in one month, there’s no reason why SHROOM can’t go from current price to $0.50+ the coming month if Shroom bridges gaming, DeFi and NFTs, especially as liquidity is added in the coming weeks as LPs will be rewarded.”
According to its website, Shroom.Finance is a fork of the Sushiswap protocol. The new crypto asset seeks to build community-owned DEXes (decentralized exchanges) that specialize in the $10-billion in-game asset industry.
“We foresee a future where in-game assets, fungible and non-fungible, trade freely in a decentralized fashion, and we are here to take that spot and facilitate the ownership to a community of gamers.”
Rager points to the emergence of the widely-talked about non-fungible tokens (NFTs) as a possible bullish catalyst for SHROOM.
“Let’s just say NFTs are one of the hottest trends to hit 2020.
And Shroom Finance team is building a decentralised ecosystem for in-game assets trading and minting. This includes NFTs (ERC-721, ERC-1155) and ERC-20 token standards.
I’m really bullish on SHROOM for long term.”
The trader also says that Shroom.Finance’s new DEX will allow SHROOM holders to participate and generate income via yield farming.
https://twitter.com/Josh_Rager/status/1309857844804685825
According to CoinGecko, SHROOM traded at a low of $0.00362545 on September 7th. The new crypto asset has surged in value since and climbed as high as $0.227925 on September 28th – representing an increase of nearly 6,200%.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Bioraven
