A widely respected cryptocurrency strategist believes one little-known Ethereum (ETH) challenger will hit his massive price target this cycle.
Pseudonym trader Rager tells his 199,100 followers on social media platform X that he is bullish on layer 1 protocol Fantom (FTM).
Rager shares a chart that suggests FTM will hit its target price of $3.31 around April.
“Are you late to the market?
People who say that aren’t looking at FTM charts.
And yes, I think that’s a real goal for the next six months.”
As of this writing, FTM is trading at $0.71, which represents a potential price increase of over 366% if the altcoin reaches Rager’s target.
Rager points out that FTM could probably reach even higher levels if the project sees a smooth transition to Sonic.
“The real goal – if the SONIC migration goes well, is not the top or the bottom.”
Sonic is designed to be a high-throughput layer 1 chain with a native layer 2 chain connected to Ethereum.
describe the project,
“Sonic Chain will be a layer 1 platform connected to Ethereum through a custom layer 2 bridge, allowing Sonic to leverage the vast amount of liquidity, users, and protocols. This allows the network to access Ethereum’s native ETH and other assets by combining the low cost, scalability, and speed of Layer 1 with the security of Layer 2 bridges. As a result, Sonic chains are not just L1 or L2. “We are the first chain to offer the best of both worlds.”
Looking at memecoins, Rager believes that meme tokens now serve as a gateway for retail investors to enter the cryptocurrency market.
“My thesis with memes is to attract retail.
Many memes have limited upside because they require a larger audience outside of cryptocurrency to gain traction.
Retail businesses will want well-known memes.
Memecoins like PEPE, POPCAT, and BONGO will thrive next year because of this.
“This is just the beginning.”
As for Bitcoin, Rager predicts that BTC will witness one more shallow correction towards $66,000 before surging to a new all-time high.
“BTC may rise further and we will try to buy on the dip before it rises further.”
As of this writing, Bitcoin is trading at $68,196.
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