A popular crypto analyst says the memecoin Shiba Inu has more upside potential while predicting rallies for three additional altcoins.
Pseudonymous trader Altcoin Sherpa tells his 138,500 Twitter followers that Dogecoin competitor Shiba Inu (SHIB) is gearing up for a rally to a new all-time high at $0.00005.
“SHIB: If I were around a lot, then I would just try to buy any dip on this thing. I still think it’s got plenty of room to move.”
At time of writing, SHIB is exchanging hands at $0.000041, up nearly 10% in the last 24 hours, according to CoinGecko.
Another coin on the trader’s radar is smart contract platform Fantom (FTM). The trader says Fantom remains in a strong uptrend against Bitcoin (FTM/BTC) as the pair continues to form a bullish market structure.
“FTM: I think you’ll probably want to watch the FTM/BTC pair for when this thing is going to pull back… I still expect up for this for the most part; trend is strong. Fantom.”
As for FTM against the US dollar, the crypto strategist believes that Fantom will move higher as long as Bitcoin (BTC) holds its ground.
“The USD pair will still probably continue grinding up as long as BTC is ok (for the most part).”
Next up is Polygon (MATIC), a scaling solution designed to boost widescale adoption of decentralized apps on the Ethereum blockchain. The trader says he expects MATIC to take out resistance at $1.64 after tapping the key area four times in the last four months.
“MATIC: I think it’s highly likely this breaks strongly in the USD pair soon. Grinding up at resistance; this area has already been tapped a lot. Bullish.”
The last coin on Altcoin Sherpa’s list is WOO Network (WOO), a decentralized fintech startup and pool trading platform with built-in deflationary measures which aims to bring zero-fee cryptocurrency transactions to crypto trading.
The trader says the altcoin is for long-term investing as it may rally as high as $2.50, representing an upside potential of over 113% from its current value of $1.17.
“Attached some Fibonacci targets for the inevitable ATH (all-time high) of this one. Love this project and long-term hodl (hold on for dear life) for me.”Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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