- A renowned analyst discusses altcoins in his portfolio.
- He warns about a meme token based on Solana (SOL).
- He also makes predictions on the potential performance of select altcoins.
A well-known analyst in the cryptocurrency markets revealed the altcoins in his portfolio and issued a warning about a meme token based on Solana (SOL). Here is the altcoin review from the analyst!
Analyst’s Comment on BONK!
The expert cryptocurrency analyst, known by the pseudonym Altcoin Sherpa, suggested on social media platform X that Bonk (BONK) could experience a significant drop after a little more rise. However, he warns investors that shorting a meme token is like “stepping in front of a fast train” and advises not to use leverage for token transactions. The senior cryptocurrency analyst said the following in his statements:
BONK: This situation will continue to accelerate until it reaches some sort of peak. I entered a few days ago and it continues to work. I took half of it yesterday and will continue to take profit during this journey. Make no mistake, it will eventually drop even further.
Later, the senior cryptocurrency analyst suggested that BONK could fall to previous support levels around $0.0000110 or $0.00000752. BONK is trading at $0.00001232, a 980% increase since November 8, as of the time the article was written.
Expectation of Rise on Solana!
Then the cryptocurrency analyst updates his view on smart contract platform Solana and predicts another step for the Ethereum (ETH) rival. The expert said the following on the subject:
SOL: There is an exit here, I like seeing this. Up next is $80 (which should definitely come) and the next key level I am looking at after that is $116. It is still one of the strongest tokens in the market.
Solana is trading at $73.10, an increase of 11.6% in the last 24 hours, at the time of writing. Finally, the analyst says that the layer 1 blockchain Avalanche (AVAX) could soon rise more than 42% of its current value:
AVAX: I think this current area is a bit of an interesting pullback point. But ultimately, I think we will see higher levels in the medium term. I’m thinking something like $40. It’s interesting to see that the strong 2021 chains like SOL and AVAX are in quite good shape while others are dying.
