Despite the current bearish outlook for the crypto ecosystem at large, optimism surrounding major growth tokens is rising. According to anonymous altcoin analyst Sherpa, major altcoins such as Shiba Inu (SHIB), Avalanche (AVAX), Fantom (FTM), and LooksRare (LOOKS) have a high probability of printing a new uptrend based on both their potential fundamentals and technicians.
According to Altcoin Sherpa, Shiba Inu price is poised to touch $0,000016 after the popular memecoin breaks through the resistance at $0,000013.
I like SHIB for many reasons: the liquidity is always excellent and it is also volatile. Yesterday had a breakout and maybe $0,000016 is the next area I'm looking at.
The choice of Shiba Inu did not surprise too much, considering that the coin has a number of ecosystem projects in the pipeline. Starting with plans to launch the Shibarium protocol, a layer 2 blockchain network built on top of Ethereum, Shiba Inu has been working hard to kick-start its ecosystem functionality.
In addition to this, Shiba Inu also holds a very definite stake in fast-food company Welly, which plans to make a strategic pivot into the Middle East through Dubai. The restaurant business will contribute to the evolution of the memecoin as a deflationary asset, as a portion of the fees of the processed transactions will be burned.
The case of Avalanche and Fantom
In addition to Shiba Inu, Altcoin Sherpa has named Avalanche as the favorite for a medium- to long-term rally. While stating that his projection depends on Bitcoin (BTC), which most altcoins depend on, the analyst believes that if AVAX breaks through the $20 resistance, its price could jump to $30 in the near term.
Avalanche's growth forecast is a conservative projection at best, considering the ever-tightening competition among the so-called Ethereum-killers. Avalanche, however, still has its appeal and is ranked as the fastest blockchain network in terms of time to build.
Its growing partnerships, ecosystems of decentralized finance (DeFi), gaming and non-fungible tokens (NFT) are also growing significantly, thus positioning the AVAX coin as one whose utility is set to grow in the near term.
Altcoin Sherpa also named Fantom (FTM), a directed acyclic graph (DAG) modeled on Distributed Ledger Technology (DLT), as one of her favorite coins on the rise. According to the analyst, Fantom has entered a definite trading range and could see its price rise from the current one quotation of $0,5555 to $0,90 in the short term.
Fantom's latest price action is as a consequence of the publicity made by one of the pioneers and lenders of DeFi, Andre Cronje. As the protocol most suited to micro-transactions at scale, Fantom is considered one of the protocols most ready for mainstream adoption.
The digital currency is down 84,04% from its all-time high (ATH) of $3,48. The coin is considered to be one of the most undervalued tokens. As an added incentive, Altcoin Sherpa has also added LooksRare (LOOK), an NFT trading protocol to its list of altcoins to watch for growth.
