A prominent crypto analyst is confident that a lesser-known Ethereum (ETH) competitor will reach his significant price target in this cycle.
The pseudonymous trader Rager informs his 199,100 followers on the platform X that he holds an optimistic view on the layer-1 protocol Fantom (FTM).
Rager presents a chart indicating that FTM could achieve his price goal of $3.31 by approximately April.
“Getting into the market late?”
“Those who claim that clearly aren’t analyzing the FTM chart.”
“In my perspective, this is a realistic target for the upcoming six months.”
Currently, FTM is priced at $0.71, suggesting a potential increase of over 366% if the altcoin reaches Rager’s target.
Rager adds that FTM could potentially climb even higher if the project successfully transitions to Sonic.
“This is a practical target—not the peak or trough, depending on the smoothness of the SONIC migration.”
Sonic is intended to be a high-throughput layer-1 network with a native layer-2 connection to Ethereum.
Describing the project,
“The Sonic chain will serve as a layer-1 platform that links to Ethereum through a custom layer-2 bridge, enabling Sonic to access extensive liquidity, users, and protocols. This allows the network to merge the low costs, scalability, and speed of a layer-1 with the security of a layer-2 bridge to access native ETH and other Ethereum assets. Consequently, the Sonic chain is not merely an L1 or L2—it stands as the first chain to harmonize the benefits of both.”
Focusing on memecoins, Rager asserts that meme tokens are now acting as a gateway for retail investors into the cryptocurrency market.
“My theory regarding memes is that they draw retail interest.
Numerous memes have limited growth potential since a broader audience beyond the crypto sphere needs to be attracted.
Retail investors will likely prefer well-known memes.
Memecoins such as PEPE, POPCAT, and BONGO are poised to thrive over the next year because of this.
It’s just the beginning.”
As for Bitcoin, Rager anticipates that BTC will face one more slight correction to $66,000 before experiencing a surge to new all-time highs.
“BTC can rise further, and I would definitely aim to buy during a pullback before moving higher.”
At the time of writing, Bitcoin is trading at $68,196.
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Disclaimer: The views expressed at The Daily Hodl are not considered investment advice. Investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Be aware that your transfers and trades are your own responsibility, and any losses incurred are your obligation. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Additionally, The Daily Hodl participates in affiliate marketing.
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