Analyst Says Solana-Based Altcoin Primed To Hit New All-Time High, Maps Path Forward for Shiba Inu

A popular crypto trader believes one Solana (SOL)-based altcoin project is on the verge of soaring to a record-breaking price.

The pseudonymous analyst known as Altcoin Sherpa tells his 208,400 followers on the social media platform X that a new all-time high (ATH) is likely for the native asset of Render (RNDR), a crypto project that aims to provide a decentralized marketplace for Graphics Processing Units (GPUs).

He believes Render will likely retest levels in the lower $7 range before bouncing to cross its prior ATH of $8.78.

“Render: ATH inevitable. Entry in the low $7s would be solid in my opinion.”

Source: Altcoin Sherpa/X

Render is trading for $7.49 at time of writing, down nearly 6% in the last 24 hours.

Next up, the trader predicts memecoin Shiba Inu (SHIB) will have big gains this market cycle.

“SHIB: similar chart to DOGE tbh and its probably going to trade very similarly to DOGE given their respective market caps + both being on ETH. This will do big numbers eventually but will act more as a big cap vs. a meme (because it is). Good liquidity but not really one to expect 5000x on anymore.”

Source: Altcoin Sherpa/X

Looking at his chart, the trader suggests that SHIB is in an enduring trading range with an upper bound of $0.000001484 and a lower bound of $0.000000714, from which he predicts an eventual breakout.

SHIB is trading for $0.00000126 at time of writing, up more than 10% on the day.

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