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Altcoins
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July 29, 2024

Crypto Trader Says One Ethereum Rival Is the Fastest Horse This Cycle, Updates Outlook on FLOKI

By Henry Kanapi

A closely followed crypto strategist thinks that one large-cap layer-1 altcoin will outperform most digital assets this cycle.

Pseudonymous analyst Inmortal tells his 214,500 followers on the social media platform X that he has his eye on Solana (SOL).

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“Solana is the fastest horse in this cycle.

It will keep outperforming BTC and ETH.

You don’t have to be the smartest guy in the room to know that.

SOL.” 

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To support his bullish stance, Inmortal reminds his followers that Solana may be on the verge of a parabolic rally if it mirrors its late 2020 price action.

“You are here. SOL.”

Source: Inmortal/X

Based on the trader’s chart, he appears to predict that SOL will go on a tear should it take out its resistance at $200.

At time of writing, SOL is trading for $189.

The analyst is also bullish on the memecoin Floki (FLOKI). The analyst shares a chart suggesting that FLOKI will climb toward his target at around $0.00028 in late August.

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“We keep expanding.

Remember, retail loves memecoins.

FLOKI.” 

Source: Inmortal/X

At time of writing, FLOKI is worth $0.000177.

As for Bitcoin (BTC), the trader unveils a scenario where the crypto king witnesses a dip to the $50,000 level before bouncing and consolidating above $60,000 toward the end of the year.

But after the consolidation, Inmortal sees Bitcoin breaking out to new historic highs by Q2 of 2025.

“Imagine.

Breakout + new ATH (all-time high) + 100 more days of consolidation.

BTC.” 

Source: Inmortal/X

At time of writing, Bitcoin is trading at $69,283.

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