Solana

Bonk

Avalanche

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 A widely followed crypto analyst is issuing a warning about one red-hot Solana-based (SOL) memecoin. 
 Pseudonymous crypto strategist Altcoin Sherpa tells his 200,800 followers on the social media platform X that Bonk (BONK) could go on a massive decline after rising a bit more. 
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 However, he warns traders that shorting the meme asset is akin to “stepping in front of a speeding train” and advises against using leverage to trade the token. 
 “BONK: this will continue to accelerate until some sort of blow off top. I entered a few days ago and it continues to run; I took half off yesterday and will continue to take profits during this ride. Make no mistake, this is eventually coming way lower eventually.” 
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 <img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GA043pyXIAARWPW?format=png&amp;name=medium" alt="Image" width="1200" height="676">
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 Source: Altcoin Sherpa/X
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 Looking at his chart, the trader suggests BONK could decline to previous support levels around $0.0000110 or $0.00000752. 
 BONK is trading for $0.00001232 at time of writing, a gain of 980% since November 8th. 
 Next, the trader updates his outlook on smart contract platform Solana and predicts another leg up for the Ethereum (ETH) competitor. 
 “SOL: breakout here, love to see it. $80 is next (should certainly come) and after that, $116 is the next key level I’m looking at. Still one of the strongest coins around.” 
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 <img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GA1YssqWYAAcaXN?format=png&amp;name=large" alt="Image" width="2048" height="986">
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 Source: Altcoin Sherpa/X
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 Solana is trading for $73.10 at time of writing, up 11.6% in the last 24 hours. 
 Lastly, the trader says that layer-1 blockchain Avalanche (AVAX) could soon soar more than 42% from its current value. 
 “AVAX: I think that this current area is a somewhat interesting pullback spot, but I ultimately think we see higher levels in the mid-term. Thinking $40 or something like that. It’s interesting to see the strong 2021 chains like SOL and AVAX do pretty well while the others died.” 
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 <img loading="lazy" decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GA1Xf8WWkAAQZTp?format=jpg&amp;name=medium" alt="Image" width="1200" height="676">
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 Source: Altcoin Sherpa/X
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 Avalanche is trading for $28.05 at time of writing, up 4.6% in the last 24 hours. 
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Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/trader-issues-warning-on-altcoin-that-s-exploded-over-900-in-a-month-unveils-targets-for-solana-and-avalanche-tbt73106.html">https://thebittimes.com/trader-issues-warning-on-altcoin-that-s-exploded-over-900-in-a-month-unveils-targets-for-solana-and-avalanche-tbt73106.html</a>

Trader Issues Warning on Altcoin That’s Exploded Over 900% in a Month, Unveils Targets for Solana and Avalanche

TheBitTimes

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