Top Crypto Analyst Targets These Three Altcoins for Potential $600M Surge
Ran Neuner spoke all things Spot Bitcoin ETFs post approval and trading volume in his latest Crypto Banter episode, but there was something else worth listening to, some juicy altcoins predictions. Here are the three alts Neuner has on his shopping list this January.
The decentralised machine learning network and its TAO token have decreased by almost 15% during the past month. Nevertheless, Neuner thinks that TAO could be…
…going back to $320 first and then if it breaks the $320 level then it could go up to like $385 maybe back to all-time highs.
His brief analysis suggests that there is a potential bullish reversal in the price of TAO. However, it’s important to note that technical analysis is not a guaranteed predictor of future price movements.
For Render, Neuner adds some more fundamentals to the equation, saying that the release of the Apple VR headset in the US within the next two weeks is somewhat bullish. The launch of Apple’s VR headset is expected to boost the adoption of Render’s decentralised GPU network, used in virtual reality and the metaverse.
Additionally, Render’s recent release of its app for iPads increases the likelihood that developers for Apple’s headset will use the Render network, potentially leading to a significant rise in the price of RNDR.
And while RNDR has suffered in the short term, the annual price increase with over 600% is very impressive.
But the champion amongst altcoins is Solana, which some, including Neuner, expect to go to USD $500-600 this cycle. He has based this on technical as well as fundamental factors.
On the macro level there is a significant event upcoming, a USD $600 million airdrop on the Solana network, which is expected to generate considerable interest and activity. Additionally, the launch of Jupiter, a decentralised exchange aggregator on Solana, accompanied by a substantial token airdrop, is likely to attract more users and investment.
And in terms of performance, Crypto Banter points to the “SOL/ETH ratio” which suggests that Solana might outperform Ethereum by four to five times. This is further supported by the movement of funds from Ethereum to Solana (and Sui), as observed through the wormhole bridge, indicating a growing investment in the Solana ecosystem.
And of course, there is the buzz around the successful launch of the Solana Saga phone, coupled with unique features like meme coin airdrops – not to forget the announcements of the launch of a second phone.
All this might see the price of SOL leave USD $100 in the dust and continue the incredible performance which saw a 333% price increase in the past year.