The post Trader Unveils Massive Price Target for Ethereum Rival, Says Memecoins Attract Retail Investors appeared on BitcoinEthereumNews.com.

A widely followed crypto strategist believes one under-the-radar Ethereum (ETH) challenger will hit his massive price target this cycle. Pseudonymous trader Rager tells his 199,100 followers on the social media platform X that he’s bullish on layer-1 protocol Fantom (FTM). Rager shares a chart suggesting that FTM will hit his price target of $3.31 by around April. “Late to the market? People who say that aren’t looking at the FTM chart. And yes, in my opinion, this is a practical target for the next six months.”  Source: Rager/X At time of writing, FTM is trading for $0.71, indicating an over 366% potential price rise if the altcoin reaches Rager’s target. Rager notes that FTM can probably even reach higher levels if the project witnesses a smooth transition to Sonic. “Practical target – not top or bottom if SONIC migration can go well.”  Sonic is designed to be a high-throughput layer-1 chain with a native layer-2 chain linked to Ethereum. Explains the project, “The Sonic chain will be a layer-1 platform that connects to Ethereum via a bespoke layer-2 bridge, allowing Sonic to tap into vast amounts of liquidity, users, and protocols. This allows the network to combine the low cost, scalability, and speed of a layer-1 with the security of a layer-2 bridge for access to native ETH and other assets on Ethereum. As a result, the Sonic chain isn’t just an L1 or L2 – it’s the first chain of its kind to provide the best of both.” Looking at memecoins, Rager believes that meme tokens now serve as a gateway for retail investors to enter the crypto market. “My thesis for memes is what attracts retail. Many memes have limited upside because there needs to be a larger audience outside of crypto to be attracted to it. Retail are…

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Filed under: News - @ October 21, 2024 12:01 am