Massive rally incoming for Shiba Inu, Avalanche and Fantom – CryptoNewsTo

Massive rally incoming for Shiba Inu, Avalanche and Fantom

  • Pseudonymous analysts Altcoin Sherpa has tipped massive rallies for Shiba Inu, Avalanche, and others.
  • The tokens singled out have one thing in common, a robust and growing ecosystem.

Despite the current bearish outlook in the broader crypto ecosystem, the optimism surrounding top growth tokens is rising. According to anonymous crypto analysts Altcoin Sherpa, the top altcoins like Shiba Inu (SHIB), Avalanche (AVAX), Fantom (FTM), and LooksRare (LOOKS) have a high chance of printing renewed uptrend based on both their fundamental and technical potentials.

According to Altcoin Sherpa, the price of Shiba Inu is poised to touch $0.000016 after the popular memecoin takes out the resistance at $0.000013. 

I like SHIB for a lot of reasons; liquidity is always great on it and it’s also volatile. Had a breakout yesterday and maybe $0.000016 is the next area I’m viewing.

The pick of Shiba Inu did not come with so much surprise considering the fact that the coin has a number of projected ecosystem projects in the works. Starting from the plan to float the Shibarium protocol, a layer-2 blockchain network that is built on Ethereum, Shiba Inu is going all the way to bootstrap the functionality of its ecosystem.

Besides this, Shiba Inu also has a very defined stake in the fast-food business Welly which plans to make a strategic pivot into the Middle East through Dubai. The food business will help contribute to the evolution of the memecoin as a deflationary asset as a portion of the fees from processed transactions will be burnt off.

The case for Avalanche and Fantom

Besides Shiba Inu, Altcoin Sherpa also tipped Avalanche as a favorite to see an immense surge in the mid-to-long term. While he said his projection is dependent on Bitcoin (BTC) upon whom most altcoins are dependent, the analyst believes that. should AVAX flip the resistance at $20, then its price could shoot up to $30 in the near term.

Tipping Avalanche for growth is at best a conservative projection considering the tightening competition amongst the so-called Ethereum-killers. Avalanche, however, still has its attraction and is ranked as the fastest blockchain network in terms of time to finality.

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Its growing partnerships, Decentralized Finance (DeFi), gaming, and Non-Fungible Token (NFT) ecosystems are also growing remarkably, thus positioning the AVAX coin as one of those whose utility is bound to grow in the near term.

Altcoin Sherpa also tipped Fantom (FTM), a Directed Acyclic Graph (DAG) modeled Distributed Ledger Technology (DLT) as one of his favorite altcoins to grow. Altcoin to the analyst, Fantom has entered a defined trading range and it could see its price soar its current price of $0.5555 to $0.90 in the short term.

Fantom’s latest price action is like an aftermath of the publicity from one of DeFi pioneers and backers, Andre Cronje. As a protocol that is pitched to be most suited for micro-transactions at scale, Fantom is tipped to be one of the readiest protocols for mainstream adoption. 

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The digital currency is down by 84.04% from its All-Time High (ATH) of $3.48. The coin is tipped to be quite one of the most undervalued tokens.

As an extra incentive, Altcoin Sherpa also added LooksRare (LOOK), an NFT trading protocol to his list of altcoins to watch out for their growth.

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