Cryptocurrency analysts are continuing to share their perspectives on the market, with one analyst offering insights into two altcoins and a meme coin that could potentially rival Ethereum. These insights are aimed at providing guidance to investors.
AVAX’s Potential Rise
A prominent crypto analyst, Kaleo, took to the social media platform X to share his thoughts on one of Ethereum’s competitors, Avalanche (AVAX). He highlighted the altcoin’s potential for significant price movement against Bitcoin (BTC). According to Kaleo, AVAX, a smart contract platform, could see its value increase by more than 84% following its price movement against BTC.
Kaleo shared a chart showing AVAX/BTC forming a bull flag pattern on the daily chart, indicating that it could soon reach 0.000950 BTC ($62.13).
At the time of writing, AVAX/BTC is trading at 0.000515 BTC ($33.89) after experiencing a drop of over 3% in the last 24 hours.
The Analyst’s Take on Solana (SOL)
The analyst also commented on Solana, which is often referred to as the “Ethereum killer.” He presented an upward chart with significant price fluctuations on the daily chart and predicted that SOL would rise against Bitcoin (SOL/BTC). He believes that SOL/BTC could surpass the 0.0032 BTC ($209) level in the future.
Currently, SOL/BTC is trading at 0.00243 BTC ($160) after experiencing a rise of over 3% in the last 24 hours.
Insights on DOGE’s Future
The analyst also shared his perspective on meme coins, specifically Dogecoin (DOGE). He predicts that DOGE, one of the rising meme coins, will experience a breakout similar to what GameStop (GME) encountered in 2021. GME recently witnessed a significant price rally followed by pullbacks.
At the time of writing, DOGE is trading at $0.15 and has experienced a slight drop in the last 24 hours.
As a reminder, this article does not provide investment advice. Investors should be aware of the high volatility and risk associated with cryptocurrencies and conduct their own research.
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