A widely followed crypto strategist believes the little-known Ethereum (ETH) challenger will hit a huge price target this cycle.
Pseudonymous trader Rager told his 199,100 followers on social media platform X that he is bullish on layer 1 protocol Phantom (FTM).
Rager shared a chart that suggests FTM will reach a $3.31 price target by around April.
“Late to market?
People who say that aren't looking at FTM charts.
And yes, in my opinion, this is a realistic goal for the next six months. ”
As of this writing, FTM is trading at $0.71, indicating the price could rise over 366% if the altcoin reaches Rager's target.
Rager says that if the project can transition smoothly to Sonic, FTM could possibly reach a higher level.
“A practical goal – if the transition to SONIC goes well, we won’t be at the top or bottom.”
Sonic is designed to be a high-throughput Layer 1 chain with a native Layer 2 chain linked to Ethereum.
Explaining the project,
“Sonic Chain will be a Layer 1 platform that connects to Ethereum via a custom-built Layer 2 bridge, giving Sonic access to a vast amount of liquidity, users, and protocols. This will allow the network to use native ETH As a result, Sonic Chain is not just L1 or L2, but both. We are the first chain of its kind to offer these advantages.
Turning to memecoins, Rager believes memetokens are currently serving as a gateway for retail investors to enter the crypto market.
“My theory on memes is that they appeal to retailers.
Many memes have limited upside because they need a larger non-crypto audience to be captivated by cryptocurrencies.
Retailers will want famous memes.
Thanks to this, meme coins such as PEPE, POPCAT, and BONGO will flourish over the next year.
It's just the beginning. ”
As for Bitcoin, Rager expects another shallow correction to $66,000 before Bitcoin hits a new all-time high.
“BTC has the potential to go up, and we are definitely looking to buy on a return to where it was before it went up.”
At the time of this writing, Bitcoin is trading at $68,196.
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