Altcoin Warnings and Predictions from a Crypto Analyst Expert

Ramona Galas
12 Dec 2023
Altcoin Sherpa warns against investing in meme token Bonk based on Solana, predicts SOL to reach $80 and AVAX to rise by 42%.

The Altcoin Sherpa, a well-known cryptocurrency analyst, recently shared his portfolio of altcoins and issued a warning about a meme token based on Solana (SOL). In his review, the analyst cautioned investors about Bonk (BONK), stating that while it may experience a little more rise, it could also see a significant drop. He advised against shorting a meme token and recommended not using leverage for token transactions. The analyst predicted that BONK could fall to previous support levels around $0.0000110 or $0.00000752. As of the time of writing, BONK is trading at $0.00001232, a 980% increase since November 8.

Moving on to Solana, the analyst updated his view on the smart contract platform and predicted another step for the Ethereum (ETH) rival. He expects SOL to reach $80 and then $116, as it is still one of the strongest tokens in the market. At the time of writing, Solana is trading at $73.10, an increase of 11.6% in the last 24 hours.

Finally, the analyst believes that the layer 1 blockchain Avalanche (AVAX) could soon rise more than 42% of its current value. He sees the current area as an interesting pullback point and predicts that AVAX could reach $40 in the medium term. The analyst notes that strong 2021 chains like SOL and AVAX are in good shape while others are dying.

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