Are you curious about the future of Avalanche (AVAX)? You might be intrigued to know that a well-regarded cryptocurrency strategist has forecasted a significant surge for AVAX. The reason behind this prediction? The launch of a new decentralized social finance application (SocialFi) on the AVAX blockchain.
Why is Avalanche (AVAX) expected to surge?
The anonymous cryptocurrency analyst, known to his substantial online following as Altcoin Sherpa, has suggested that AVAX could see an increase of more than 12% from its present value. This prediction comes in the wake of the launch of Stars Arena, a SocialFi application rivaling Friend.tech, which was launched on Coinbase’s Base blockchain.
“AVAX: buy AVAX due to Stars Arena. $12 eventually maybe. If Base had a token during FT (Friend.tech), that would have also done extremely well. People who don’t want exposure to Stars Arena might just buy AVAX and ride this instead” – Altcoin Sherpa.
What’s the future prediction for AVAX?
Altcoin Sherpa’s charts suggest that Avalanche will encounter resistance around its current value, dip to $10.20, and then surge past $12 in November. AVAX is currently valued at $10.66, a 4.7% increase in the last 24 hours. Despite this optimistic forecast, the future of Stars Arena remains uncertain.
“Creator/influencer time/energy is running thin in regards to overall social network fragmentation. Before, all information/alpha/conversation was shared on Twitter. Now? People sharing on FT, Stars Arena, etc. Is it possible for many of these social apps to win? Hard to say” – Altcoin Sherpa.
How about Ethereum’s rival, Solana (SOL)?
Altcoin Sherpa also touched on the future of Solana (SOL), Ethereum’s competitor. According to his predictions, SOL will likely dip to lower levels before making another upward move. The strategist uses Fibonacci retracement levels to forecast a possible dip to the $21 range.
If you’re interested in tracking these predictions and staying updated on the movements of AVAX, SOL, and other cryptocurrencies, consider using the cryptoview.io application. It’s a helpful tool for monitoring the dynamic world of cryptocurrencies.
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Please remember that investing in cryptocurrencies involves a high level of risk and should be done with caution. Always conduct thorough research and consider multiple sources of information before making an investment decision.
