A widely followed crypto trader is warning about two artificial intelligence (AI)-based altcoins, saying history shows a 50% drop would be the best-case scenario for them.
In a new thread on the social media platform X, pseudonymous crypto analyst Altcoin Sherpa tells His 237,500 followers on social media platform
According to Sherpa, recent history shows that when assets are listed on Binance futures, they tend to see sharp price drops. The trader mentions memecoins Fartcoin (FARTCOIN), Just a chill guy (CHILLGUY), Moo Deng (MOODENG), Goatseus Maximus (GOAT) and Peanut the Squirrel (PNUT) as examples.
“I own both ai16z and Zerebro and they will be listed on Binance futures. Recent history shows that this is NOT a bullish event and that you can generally expect a -50% retrace (FARTCOIN) at best, or much worse (GOAT, Chillguy, Pnut, Moodeng).
The trader’s chart shows that Fartcoin saw a 48% drop in its Solana pair (FARTCOIN/SOL) after being listed on Binance futures. However, the chart also shows that assets recovered and then reached a new all-time high.
Earlier this week, Binance announced that it would expand its line of futures products, including offerings for Zerebro and AI16z.
ZEREBRO and AI16z are trading at $0.607 and $2.10 respectively at the time of writing. On November 3, they went as low as $0.0058 and $0.109, representing increases of more than 10,000% and 19,000%.
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Generated image: Midjourney