Cryptocurrency enthusiasts are eagerly watching the market as a well-known analyst and trader, going by the pseudonym Sherpa, shares bullish insights on two popular digital assets. In a recent post on X, Sherpa has highlighted Solana (SOL) and Goatseus Maximus (GOAT) memecoin as potential movers in the near future.
Starting with Solana, Sherpa predicts a significant surge in the price of the Ethereum competitor due to increased network activity. With SOL currently trading at $174, the analyst believes that the cryptocurrency is poised to break its all-time high of $260, set back in November 2021. Sherpa’s confidence in SOL’s upward trajectory stems from the recent uptick in on-chain transactions, indicating strong market demand for the digital asset.
On the other hand, Sherpa also shares insights on the GOAT memecoin, which has experienced a meteoric rise of around 15x in just a few weeks. The analyst anticipates that GOAT will soon reach a fully diluted value of $1 billion, representing a 50% increase from its current market capitalization of $667.8 million. Sherpa points to the recent launch of GOAT’s perpetual contract on Binance as a potential catalyst for increased volatility in the memecoin’s price.
Despite the positive outlook on GOAT, Sherpa advises early investors to consider taking some profits following the listing of the memecoin’s perpetual contract on Binance. The analyst warns that the introduction of futures trading could introduce unknown variables into the market, leading to heightened price fluctuations and potential risks for investors.
As of the time of writing, GOAT is trading at $0.694, while SOL is priced at $174. Cryptocurrency enthusiasts are advised to stay informed and monitor market developments closely to capitalize on potential opportunities in the ever-evolving digital asset space.
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