dailyhodl.com
A popular crypto trader believes one Solana (SOL)-based altcoin project is on the verge of soaring to a record-breaking price.
The pseudonymous analyst known as Altcoin Sherpa tells his 208,400 followers on the social media platform X that a new all-time high ($ATH) is likely for the native asset of Render (RNDR), a crypto project that aims to provide a decentralized marketplace for Graphics Processing Units (GPUs).
He believes Render will likely retest levels in the lower $7 range before bouncing to cross its prior $ATH of $8.78.
“Render: $ATH inevitable. Entry in the low $7s would be solid in my opinion.”
Next up, the trader predicts memecoin Shiba Inu ($SHIB) will have big gains this market cycle.
“$SHIB: similar chart to $DOGE tbh and it’s probably going to trade very similarly to $DOGE given their respective market caps + both being on ETH. This will do big numbers eventually but will act more as a big cap vs. a meme (because it is). Good liquidity but not really one to expect 5000x on anymore.”
Looking at his chart, the trader suggests that $SHIB is in an enduring trading range with an upper bound of $0.000001484 and a lower bound of $0.000000714, from which he predicts an eventual breakout.
$SHIB is trading for $0.00000126 at time of writing, up more than 10% on the day.
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