A closely followed crypto analyst believes two altcoins could skyrocket 5x before this cycle ends.
Pseudonymous analyst Altcoin Sherpa tells his 228,100 followers on social network X that he is extremely bullish on the altcoin market.
According to the analyst, even average altcoins will see massive price increases if conditions turn bullish for cryptocurrencies.
Specifically, the trader sees the decentralized oracle network Chainlink (LINK) and Algorand Layer 1 Protocol (ALGO) generating 400% to 600% printing profits before the current cycle comes to an end.
“Market average for crap coins from here on out: probably around 3-5 times for this cycle at the low end and 5-10 times for prices at the high end.
Meaning: If you buy something at this moment, I expect the price to increase 3-5 times.
Here are two examples with LINK [and] ALGO.
Looking at the trader’s chart, he appears to be predicting that LINK will rise over 350% and return to historically high levels. Regarding ALGO, Altcoin Sherpa shares a chart suggesting that a move of more than 300% will not bring the coin any closer to its all-time high of $3.56.
Turning to the popular memecoin Dogecoin (DOGE), the altcoin sherpa believes that the altcoin is taking a breather before kick-starting new growth.
“In my opinion, this is the lower bound you want to see for DOGE.
High volatility and range formation.”
At the time of writing, DOGE is trading at $0.159.
Altcoin Sherpa also names other coins that he believes will do well as the market enters bullish territory.
“Mid-cap memes are getting a lot of attention, and I still think things like BONK/PEPE/WIF are probably outperforming a large percentage of utility coins. But if you’re looking for utility, I’d probably go with:
-New coins such as EIGEN
-High number of coins in circulation/old coins such as FTM (+rebranding)
-new infra-like monad/berachain is coming out
-new coins that were released and dropped only (never pumped), such as REZ, ZK and the like.
Lots of different ways to play the upcoming alternative pump; be flexible and prepared.”
