In a recent post on social media, widely followed crypto strategist Altcoin Sherpa shared his bullish outlook on several altcoins, including the recently launched Wormhole (W). Sherpa, known for his insights to more than 213,000 followers on the X platform, believes W has the potential to make significant gains in the coming weeks.
Altcoin Sherpa announced: W may experience a bigger rise
The widely followed crypto strategist believes that a newly launched altcoin could see exponential gains within weeks. Pseudonymous analyst Altcoin Sherpa tells his 213,900 followers on social media platform
The analyst’s optimism stems from the recent airdrop of W tokens and its listing on various exchanges. Sherpa points out the project’s collaboration with leading market-making firm Jump Trading Group, suggesting that this connection could provide strong support to the token price. “Do you really think that the project that works so closely with Jump does not have good market maker connections?” asked.
Similarity between Jupiter and W
W is currently trading around $0.98, down about 9%. At this point, Sherpa advises investors to be patient. He predicts an initial sell-off in airdrop recipients followed by a potential increase in price. He compares W’s trajectory to Jupiter (JUP), another recently launched token that is experiencing early selling pressure. “I think if you buy it and hold it for a few weeks the price will probably increase several times (depending on BTC of course),” Sherpa said.
Correction time for SOL and TIA
But Sherpa is not so optimistic. It predicts a potential correction for Solana (SOL), whose price is currently $175. He predicts SOL will fall as low as 20%. However, this also points to a buying opportunity between $160 and $140. The analyst also acknowledged a broader correction in the altcoin market. In particular, he cited Celestia (TIA) as an example. TIA makes it easy to create private blockchains at minimal cost. Despite the current bearish trend, Sherpa believes that TIA can recover once it finds support. The analyst said:
Still, the plan remains: Check out some altcoins you like and just enter the dollar cost average. I still think there is a lot of upside for many
Its technical analysis suggests that TIA could drop to around $10 before a potential reversal. It is worth noting that cryptocurrency markets are volatile by nature. So it’s important to remember that Altcoin Sherpa’s predictions should not be taken as financial advice. Investors should definitely do their own research before making any investment decisions. But Sherpa’s views are critical. Because it offers valuable perspectives on current market trends and potential opportunities in the altcoin space.
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