Trader Unveils Massive Price Target for Ethereum Rival, Says Memecoins Attract Retail Investors

A broadly adopted crypto strategist believes an under-the-radar Ethereum (ETH) challenger will hit its large worth goal this cycle.

Pseudonymous dealer Rager tells his 199,100 followers on the social media platform X that he’s constructive concerning the Layer-1 protocol Fantom (FTM).

Rager shares a chart that implies FTM will hit its $3.31 worth goal round April.

“Late to the market?

Individuals who say that are not trying on the FTM chart.

And sure, so far as I am involved this can be a sensible objective for the subsequent six months.”

On the time of writing, FTM is buying and selling at $0.71, indicating a possible worth enhance of over 366% if the altcoin reaches Rager’s goal.

Rager notes that FTM might doubtless attain even increased ranges if the challenge has a clean transition to Sonic.

“Sensible objective – neither above nor beneath if the SONIC migration can go easily.”

Sonic is designed to be a excessive throughput layer 1 chain with a local layer 2 chain linked to Ethereum.

explains the challenge,

“The Sonic Chain will probably be a layer 1 platform that connects to Ethereum by way of a customized layer 2 bridge, permitting Sonic to faucet huge quantities of liquidity, customers and protocols. This enables the community to mix the low price, scalability, and velocity of a layer-1 with the safety of a layer-2 bridge to entry native ETH and different property on Ethereum. Because of this, the Sonic chain is not simply an L1 or L2 – it is the primary chain of its variety to supply the most effective of each.”

Take a look at memecoins, Rager believes that meme tokens now function a gateway for retail buyers to enter the crypto market.

“My thesis for memes is what attracts retail.

Many memes have restricted profit as a result of they require a bigger viewers exterior of crypto to be interested in them.

The retail business will need well-known memes.

Memecoins akin to PEPE, POPCAT and BONGO will due to this fact thrive within the coming yr.

It is simply starting.”

As for Bitcoin, Rager predicts that BTC will see one other superficial correction to $66,000 earlier than surging to new all-time highs.

“BTC might go increased and would undoubtedly wish to purchase on a pullback earlier than it strikes increased.”

On the time of writing, Bitcoin is buying and selling at $68,196.

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