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Altcoins Poised for Significant Rallies as Crypto Market Ignores Negative News

Coin WorldWednesday, Feb 12, 2025 8:07 pm ET

1min read

Crypto strategist Pentoshi, known for accurately predicting the 2021 digital asset cycle peak, believes several altcoins are poised for significant rallies. He attributes this to the crypto market's lack of reaction to negative economic news, suggesting a potential market bottom.

Pentoshi, with 854,200 followers on the social media platform X, highlights that many assets are at high timeframe supports, indicating a possible relief rally. He identifies several altcoins that could undergo mean reversion moves following the market correction.

First, Pentoshi suggests that PENGU, the utility token for the NFT project Pudgy Penguins, may surge to $0.01658 and potentially higher. He notes that PENGU is currently trading at $0.01, flat on the day.

Next, Pentoshi points out that automated staking service Lido DAO (LDO) is holding the key level of $1.54 as support and may soon bounce. LDO is currently trading at $1.59, down marginally on the day.

Lastly, Pentoshi highlights that IOTA, the native asset for a crypto project focused on the Internet of Things, may increase more than 21% from its current value after flipping a key level into support on the daily chart. IOTA is currently trading at $0.23, flat on the day.

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