Dogecoin competition rallies continue, according to a trader, who predicts that the upcoming month of May will determine Solana's direction.
In a recent analysis, cryptocurrency trader Inmortal predicts a significant rally for Dogecoin (DOGE) rival Floki (FLOKI). The analyst, who has over 232,000 followers on social media platform X, anticipates that FLOKI is in the early stages of an extended bullish period.
Inmortal's optimistic sentiment is backed by his prediction of "god candles" for FLOKI earlier this month. At the time of writing, FLOKI was trading at $0.000079 and was down by approximately 77% from its all-time high. In contrast, the pseudonymous analyst believes that the token is at the beginning of its ascent, stating, "We are just getting started."
Another coin Inmortal has been tracking is Solana (SOL). The trader expressed his belief that the next month would provide a clear answer to whether SOL can successfully execute a bullish reversal. As described by the analyst, May could decide whether SOL will either print a bullish higher low setup or continue its downtrend.
SOL has already outperformed Ethereum (ETH) in the recent market bounce this month, according to Inmortal. While SOL was trading at $149.82 at the time of writing, ETH was worth $1,799. The trader noted, "The obvious clues as to which out-performer will be when the bull run resumes."
The Daily Hodl, a news platform focused on crypto and finance, also reported on various industry announcements, press releases, and partnerships. Among these announcements was the Venom Foundation achieving 150,000 transactions per second (TPS) in a closed-network stress test, paving the way for its mainnet upgrade in 2025.
In terms of potential scams, concerns related to an "epidemic of scams" affecting multiple industries were raised due to reports of fraudulent activities on social media platforms Meta. A mastermind behind a securities and exchange commission (SEC) sim swapping scheme was also sentenced to 14 months in prison for manipulating Bitcoin (BTC) prices.
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[1] https://venturebeat.com[2] https://twitter.com/Inmortalcrypto[3] https://newcoin.me[4] https://twitter.com/Inmortalcrypto/status/1478531918175415301[5] https://omahaoutpost.com[6] https://thenextweb.com
- Inmortal, the popular cryptocurrency trader, anticipates a potential rally for FLOKI, Dogecoin's rival, in the blockchain sector, based on his predicted "god candles" and optimistic sentiment for an extended bullish period.
- Besides FLOKI, Inmortal has been closely monitoring the performance of Solana (SOL), predicting that the next month could provide a clear indication if SOL would successfully execute a bullish reversal, potentially outperforming Ethereum in the upcoming bull run.
