Altcoins
Analyst Says Altcoin That Surged Over 120% in Two Weeks Is Poised for Further Upside, Updates Outlook on Shiba Inu
A widely followed crypto analyst says an altcoin that has seen gains of more than 120% in two weeks is preparing to continue its upward momentum.
In a new strategy session, pseudonymous crypto trader Altcoin Sherpa tell its 217,800 followers on the social media platform X that Cosmos (ATOMGameFi project based on Dymension (DYM) looks set to soar once again.
“I was going to buy and I got out for 30 minutes. When you see price action like that after a big rally, another rally is coming. DYM.”
Source: Altcoin Sherpa/X
According to the trader’s charts, he believes that DYM will soon reach a price of $2.25. DYM is trading at $2.20 at the time of writing, a gain of 13.9% in the last 24 hours. On July 5, it was valued at $0.993.
Now let’s move on to the Shiba Inu dog themed meme (SHIB), Altcoin Sherpa said Things are looking scary for the memecoin after WazirX, an India-based cryptocurrency exchange, was hacked for hundreds of millions of dollars.
“SHIB: It’s really unfortunate that the hack happened, I hope they find a way to stop the selloff somewhere. If the stock does sell off, I think an entry into the old trading range of 700-1200 would be a good place to start buying. It’s scary right now.”
Source: Altcoin Sherpa/X
The Shiba Inu price is $0.000017 at the time of writing, down 9.6% in the last 24 hours. To conclude his analysis, Solana (GROUND), the trader says that he consider slow and steady growth of the smart contract platform in the near future.
“SOL: Things are still going well with SOL and I expect it to continue to climb. $175 looks like the next interesting level, but don’t expect this one to produce 20% candles or anything like that just yet. Just a slow and steady climb.”
Source: Altcoin Sherpa/X
Solana is trading at $156.53 at the time of writing, down 1% on the day.
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Featured image: Shutterstock/tunnelmotions/Nikelser Kate