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.” 

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 going to want well-known memes.

Memec

Go to Source to See Full Article
Author: Henry Kanapi