Anonymous cryptocurrency analyst The Crypto Dog pointed out two altcoins that he expects to rise to his followers on the popular social media platform X. The analyst predicts that the altcoins in question will make a strong debut in the short term.
Cryptocurrency Analyst The Crypto Dog Expects Rise in AAVE and CRV
The Crypto Dog first made a positive comment about Aave (AAVE). The analyst suggested that AAVE successfully tested the $107 level as support, which could lead to a significant rise in the altcoin’s price.
Currently, AAVE is trading at $111.62, up more than 46% from its low of $75 on Aug. 5, despite a slight decline in the past 24 hours.
Commenting on another DeFi project, Curve DAO (CRV), The Crypto Dog stated that CRV could follow in the footsteps of AAVE and make an upward move. He highlighted that CRV has been making a positive move in the Bitcoin trading pair (CRV/BTC) and that strong alternatives are bullish against Bitcoin. Currently, CRV is trading at $0.313, up more than 70% from its August 5 high of $0.18.
Warns Investors About Major Decline
On the other hand, The Crypto Dog warned that altcoins in general are currently at a sensitive point. The analyst shared his concerns that altcoins could make a big drop if they fail to recover from this situation. He also emphasized that investors should be careful about potential future buying opportunities and keep some cash ready.
Currently, the largest cryptocurrency, Bitcoin (BTC), is trading at $58,414, down 0.23 percent in the last 24 hours. While the total market value of the cryptocurrency market is at $2.07 trillion, down 0.87 percent, the cryptocurrency king has a dominance of 55.8 percent over the market.
