A popular crypto trader believes that a Solana (SOL)-based altcoin project is about to soar to a record price.
The pseudonymous analyst known as Altcoin Sherpa tells According to its 208,400 followers on the social media platform
He believes Render is likely to retest levels in the lower $7 range before breaching its previous ATH of $8.78.
“Generate: ATH inevitable. An entry in the low $7 range would be solid in my opinion.
Render is trading at $7.49 at the time of writing, down almost 6% in the last 24 hours.
Then the trader predicts memecoin Shiba Inu (SHIB) is set to make big gains this market cycle.
“SHIB: Similar chart to DOGE tbh and it will probably be very similar to DOGE given their respective market caps + both on ETH. This will ultimately make big numbers, but will act more as a big cap versus a meme (because it is). Good liquidity, but not really something you expect 5000x more from.”
Looking at his chart, the trader suggests that SHIB is in a sustainable trading range with an upper limit of $0.000001484 and a lower limit of $0.000000714, based on which he predicts an eventual breakout.
SHIB is trading at $0.00000126 at the time of writing, up over 10% on the day.
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Generated image: DALLE3