Cryptocurrency analysts are sharing their insights on the market, offering valuable information to investors. One analyst recently provided important statements about three specific coins that have the potential to rival Ethereum. Let’s take a closer look at their views.
Will AVAX Rise?
A prominent crypto analyst, Kaleo, took to the social media platform X to share his thoughts on Avalanche (AVAX), a smart contract platform that competes with Ethereum. According to Kaleo, AVAX has the potential to experience a significant price movement against Bitcoin (BTC), potentially increasing in value by more than 84%. In a chart shared by the analyst, it was noted that AVAX/BTC is forming a bull flag pattern on the daily chart, indicating a possible rise to 0.000950 BTC ($62.13). Currently, AVAX/BTC is trading at 0.000515 BTC ($33.89) after a slight drop of over 3% in the last 24 hours.
Analyst’s Comment on Solana (SOL)
The analyst also commented on Solana, often referred to as the “Ethereum killer.” After analyzing the daily chart and observing the larger price fluctuations, the analyst predicted that SOL would rise against Bitcoin (SOL/BTC). There is a possibility that SOL/BTC could surpass the 0.0032 BTC ($209) level in the foreseeable future. Currently, SOL/BTC is trading at 0.00243 BTC ($160) after experiencing a rise of over 3% in the last 24 hours.
Analyst’s View on DOGE’s Future
In addition to the altcoins, the analyst also shared their thoughts on meme coins, specifically Dogecoin (DOGE). Drawing parallels to the GameStop (GME) stock’s market peak in 2021, the analyst believes that DOGE will experience a breakout. Despite a slight drop in the last 24 hours, DOGE continues to trade at $0.15. It is worth noting that meme coins, including DOGE, can be highly volatile, and investors should conduct their own research and exercise caution.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered investment advice. Cryptocurrencies are known for their high volatility and carry inherent risks. Investors should conduct thorough research and make informed decisions based on their own risk tolerance.