A highly regarded crypto strategist has set a massive price target for Fantom (FTM), an Ethereum competitor, and believes meme coins are attracting retail investors.
The pseudonymous trader known as Rager shared on social media that he is bullish on Fantom, predicting that it will reach $3.31 by around April. At the time of writing, Fantom is trading at $0.71, indicating a potential price increase of over 366% if the altcoin hits Rager’s target.
Rager also noted that if the project successfully transitions to Sonic, Fantom could achieve even higher levels. Sonic is a layer-1 chain with a layer-2 bridge linked to Ethereum, combining the scalability and speed of a layer-1 with the security of a layer-2 bridge.
In regards to meme coins, Rager believes they serve as a gateway for retail investors to enter the crypto market. He suggests that well-known meme tokens like PEPE, POPCAT, and BONGO will thrive in the coming year, attracting a larger audience outside of crypto.
Regarding Bitcoin, Rager anticipates one more shallow correction to $66,000 before it surges to new all-time highs. At the time of writing, Bitcoin is trading at $68,196.