One closely watched cryptocurrency analyst believes that the two altcoins are likely to surge by up to five times before the end of this cycle.
Pseudonymous analyst Altcoin Sherpa told his 228,100 followers on social media platform X that he is extremely bullish on the altcoin market.
According to analysts, if the situation turns bullish for cryptocurrencies, even ordinary altcoins will see huge price increases.
Specifically, traders see decentralized oracle network Chainlink (LINK) and layer-1 protocol Algorand (ALGO) printing gains between 400% and 600% before the end of the current cycle.
“From now on, the market average for sh*tcoins will probably be around 3-5x on the low and 5-10x on the high this cycle.
What this means: If you buy almost anything at this point, expect the price to rise 3-5x.
Here are two examples of LINK (and) ALGO.”
Looking at the trader’s chart, he seems to have predicted that LINK would surge over 350% and regain its all-time high. For ALGO, Altcoin Sherpa shares a chart that suggests a move of more than 300% would not get the coin close to its all-time high of $3.56.
Referring to the top memecoin, Dogecoin (DOGE), Altcoin Sherpa believes that the altcoin is taking a moment to catch its breath before taking a new leap forward.
“I think this is the floor we want to see in DOGE.
There is a lot of volatility and a range is forming.”
As of this writing, DOGE is trading at $0.159.
Altcoin Sherpa also names other coins that he believes will do well once the market enters outright bullish territory.
“Mid-cap memes have a lot of visibility and I still think something like BONK/PEPE/WIF will perform much better than utility coins. However, if you are looking for a utility, I would go with this:
-New coins like EIGEN
-High float/old coins like FTM (+rebrand)
-Emergence of new infrastructure such as monad/berachain
– New coins coming and going (not pumped) in REZ, ZK and their types only
Multiple ways to play the upcoming alternative pumps; Be flexible and prepared.”
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