The widely respected analyst and trader is bullish on the memecoin built on the Solana (SOL) ecosystem while providing insight into two other cryptocurrency assets.
The analyst, who goes by the pseudonym Sherpa, told his 228,800 followers on social media platform
Sherpa said he believes GOAT’s market cap could reach $1 billion, which would represent an increase of more than 85% from its current valuation of $539 million. However, before the uptick can occur, traders see memecoin correcting to the $0.47 level.
“As I said earlier, I believe OnChain will take a breather after its crazy rise and more attention will be focused on CEX (centralized exchange) coins.”
GOAT is trading at $0.552 at the time of this writing, up 1,168% from its October 13 low of about $0.0435.
Next is Bitcoin (BTC), which analysts believe will hit a new all-time high “in the coming months.”
The anonymous analyst added that Bitcoin is likely ready for a recovery after reaching key support levels.
“The following areas have been hit: I still think BTC will bounce back soon.”
At the time of this writing, Bitcoin is trading at $69,817.
In the case of Ethereum, a widely respected analyst says that in the near term, ETH is likely to experience a false breakout and then fall to levels around $2,400 where it will likely go through a consolidation phase.
“If Bitcoin succeeds, it should breakout (but ETH/BTC will still underperform until BTC completes its run).”
At the time of this writing, Ethereum is trading at $2,512.
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