An expert cryptocurrency analyst predicts that a DeFi token within the Ethereum ecosystem is poised for an upward trajectory.
Known as Credible Crypto, the analyst shared with his 405,200 followers on X that CRV, the native asset for Curve DAO, is primed for significant gains following the locking of 900 million CRV tokens.
“That’s almost one-third of the total CRV supply and 43% of the current supply. Most of it will be locked permanently. This effectively ‘burns’ one-third of the total CRV supply (43% of current supply) and removes it from circulation forever.”
CRV is currently priced at $0.281.
Shifting focus to Bitcoin, Credible Crypto foresees further downside movement for the leading cryptocurrency.
“While the correction may not be over, there could be some relief in sight. Ideal scenario outlined below.”
Based on the analyst’s chart, Bitcoin is expected to bounce to $68,000 before potentially dropping to $56,000.
Bitcoin is currently trading at $61,278, reflecting a nearly 6% decrease in the last 24 hours.
Next on the radar is WIF, a dog-themed memecoin. Credible Crypto notes a bearish outlook for WIF after it failed to establish support above $2.40.
“Back within the range, it’s time to face reality. To all the dog enthusiasts out there, may the hat be WIF you.”
According to the analyst’s analysis, WIF could drop below $1.20 in the near future.
WIF is currently trading at $1.63, reflecting a decline of over 15% in the past day.
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