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This Top-50 Altcoin Backed by Bitcoin Billionaires Could Explode 100% in Coming Months, According to Trader

by Daily Hodl Staff
February 22, 2024
in Altcoins

A popular crypto analyst is turning bullish on one peer-to-peer storage altcoin project that is backed by billionaires.

The pseudonymous trader known as Altcoin Sherpa tells his 207,700 followers on the social media platform X that decentralized storage network Filecoin (FIL) could increase more than 125% from its current value within months.

“FIL: This doubles in the next few months in my opinion.”

Image
Source: Altcoin Sherpa/X

Looking at the trader’s chart, he suggests that Filecoin could flip the 50% level in a trading range into support and rally to $16.20.

The billionaire Winklevoss twins first invested in Filecoin in 2017 through their venture capital company. They went on to co-found the crypto exchange platform Gemini.

Filecoin is trading for $7.19 at time of writing, down nearly 5% in the last 24 hours.

Next up, the trader says that Ethereum (ETH) competitor Solana (SOL) may retest the $100 level.

“SOL: buying around $100 seems right; this is still a pretty choppy chart. I think that just buying and holding is going to be the best strategy for most people overall.”

Image
Source: Altcoin Sherpa/X

Solana is trading for $104 at time of writing, down more than 3.5% in the last 24 hours.

Lastly, the trader says that decentralized payments platform Coti (COTI) could rally to $0.13 after a retest of the $0.09 area.

“COTI: another one of the old coins that I recently decided to buy. It had some extremely strong moves the last few weeks. I believe we’ll see some stalling at some of these wicks from before (not sure which), but still believe that we’re going to break past these areas in the mid-term. Would view the $.09 area as an interest entry area.”

Image
Source: Altcoin Sherpa/X
COTI is trading for $0.092 at time of writing, down nearly 4% in the last 24 hours.
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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.

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