A $30 price would beat $NEAR’s previous record of $20.44 and value the project at about $42 billion. The $60 target implies $84 billion. A proposal to cut token issuance to 1.6% is under discussion but has not been approved.
4. Injective: targets of $50 and $90
Injective trades near $7.50. The network is built for on-chain markets such as perpetuals and tokenized assets. Each month it uses revenue to buy back $INJ and burn it permanently, and more than 7 million tokens have been destroyed so far.
The $50 target would take $INJ back near its earlier high of $52.62. The upper target of $90 would put its market value at about $10 billion.
3. Aerodrome: targets of $3.50 and $6 to $8
Aerodrome, the main exchange on the Base network, trades near $0.80. Holders who lock their tokens can vote on which pools receive rewards and earn a share of exchange revenue. As of April 2026, it had recorded $185 billion in cumulative volume and $270 million in swap fees.
At $3.50, Aerodrome would be worth about $9.1 billion. The analyst added one caution: Aerodrome has announced a merger with Velodrome, and the final terms could change the token supply.
2. Pendle: targets of $8 and $15
Pendle trades near $2.40. The protocol lets users split a yield-bearing asset into two parts and trade the future yield separately. About 80% of its fees go toward buying back PENDLE, and stakers receive distributions every two weeks.
The $8 target sits just above its previous record of $7.50. The analyst said Pendle would need about $60 million in annual revenue to justify $8 and $100 million to justify $15.
1. Hyperliquid: targets of $200 and $300
Hyperliquid trades at about $89 to $90, close to its recent high near $97. It is already the largest business on the list, with about $685 million in revenue over the past year. Part of its fees are used to buy HYPE and burn it.
The targets imply a market value of $200 billion to $300 billion. To support that, the analyst said, Hyperliquid would need about $5 billion in annual revenue, more than seven times today’s level. He called that “an enormous hurdle.”
The analyst’s main point is that a bigger business does not always mean bigger upside. Hyperliquid has the scale, but smaller names such as Aerodrome and Injective would need less growth to deliver larger percentage gains.