Where will the Avalanche carry little Trader Joe?
I am not an analyst nor an influencer and sure as hell I am no trading expert. I understand that most people want to see weird charts followed by the precious signal! I also have witnessed how most read those...they don't... their use is aesthetic and their reading superficial to say the least.
What I do however is to use my logic and judge if my portfolio can actually benefit long term by a short or medium term move. In that I take pride that I have a long history of survival with a little bit of profit 😉
So, who is this Trader Joe and why I believe that holding medium term (3-5 months) on his native token $JOE can give you a nice 2× ?
Trader Joe is a DEX on Avalanche $AVAX
Current Market Cap at 289, fully diluted at 408. What attracts me to this token is that there are so many days that the DEX daily trading value exceeds the coins Market Cap. If it happens once ok, if two then interesting if every now and then it is a signal of a healthy project evolving!
Now add to this the fact that they hold assets that far exceed their market cap (5x plus that is) and have more than 30% in TVL and I say that failing is more costly than succeeding... and this is to me the single most important signal out there in real world!
They also have this Banker Joe who plays lending game by compound. A good add on for every DEX that wishes to survive long term. They also incorporate their own NFT Market that is interesting in my eyes. Finally guess what... they have living, breathing, support team that actually supports - that's a special bonus don't you think?
Anyway, I believe that JOE's more realistic evaluation is close to 800m and for that to happen my suggestion is that we will see this at 1.6 - 1.65 before the end of this cycle. It's not the token that will get you rich but I won't back away from a doubling of my investment when the risk of failure (in my eyes) is so low!
Not a Lambo but it will pay the bills...
As always... not a financial advise. DYOR and have fun in crypto wonderland!
