Altcoin Sherpa, an anonymous analyst closely followed by the cryptocurrency community, expects a boom in a recently launched altcoin that is shown as an Ethereum (ETH) competitor, as well as two additional altcoins. Here are those altcoins on the analyst’s radar.
Waiting for SUI to Explode
Anonymous cryptocurrency analyst Altcoin Sherpa claimed that the SUI token, which shares the same name as the Layer 1 Blockchain Sui, is poised to explode. “To be open and honest with you, I think this is going to go up really, really hard. I don’t know when or where. The circulating supply of this token is really small relative to the total supply and it’s very easy for market makers to manipulate this thing. So to be honest, it would probably be quite profitable to buy it at around a dollar or thereabouts.”
Altcoin Sherpa added that SUI could lose over 20 percent of its value if the price of Bitcoin (BTC) falls:
If Bitcoin sees another drop, which you have to take into consideration if you’re trading any altcoins, then it’s going to go even lower. That’s the bottom line. For the next level, it will fall to or around the $0.80 – $0.82 area.
Other Altcoins on the Analyst’s Watch List
Moving on to memecoin Pepe (PEPE), which has been in the spotlight after SUI, Altcoin Sherpa said that the memecoin at the center of the controversy is enjoying high trading volumes as it is currently trading between $0.0000015 and $0.0000020:
I think this is a very very strong zone, there’s a lot of volume around this zone, probably this is not a bad idea for a long swing to happen but again really this swing will depend on Bitcoin.
Moving to the blockchain oracle network Chainlink (LINK) after SUI and PEPE, the analyst noted that the 22nd largest cryptocurrency by market capitalization could present a buying opportunity as soon as it exits the accumulation zone it has been in for a long time:
I personally won’t buy it until it breaks the high in the range, so around $9.15 or thereabouts. If it breaks that level, I believe the rise will be strong because it has been moving in accumulation mode for about a year. Right now it’s like at the bottom of a long accumulation period and I believe it will be strong when it really starts moving.
