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    Analyst Says Solana-Based Altcoin Primed To Hit New All-Time High, Maps Path Forward for Shiba Inu

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    Analyst Says Solana-Based Altcoin Primed To Hit New All-Time High, Maps Path Forward for Shiba Inu

    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.”

    Image
    Source: Altcoin Sherpa/X
    Render is trading for $7.49 at time of writing, down nearly 6% in the last 24 hours.

    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.”

    Image
    Source: Altcoin Sherpa/X

    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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    Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

    Generated Image: DALLE3

    The post Analyst Says Solana-Based Altcoin Primed To Hit New All-Time High, Maps Path Forward for Shiba Inu appeared first on The Daily Hodl.

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