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Chainlink's Cryptocurrency Expected To Rally Despite Recent Price Drop

13/04/2024 12:48

According to CryptoPotato, Chainlink's native cryptocurrency, LINK, has recently experienced a price drop to around $15. Despite this, multiple analysts predict a potential rally in the coming months. The decline in price, which represents a 26% decrease on a monthly scale, is seen by these analysts as a potential starting point for significant value growth. Crypto Wolf, a user, has included LINK in his list of 'mooners' for this bull run, alongside other leading altcoins such as Floki Inu (FLOKI), Polkadot (DOT), and NEAR Protocol (NEAR). Another analyst, known as SlumDOGE Millionaire, who frequently discusses Dogecoin, has claimed that LINK is currently one of the top 'blue chip' cryptocurrencies. The list also includes the biggest meme coin by market cap, Cardano's ADA, and Solana's SOL. Another user has suggested that Chainlink's native token has the potential for a 10x-20x price increase, similar to AVAX, INJ, SEI, ICP, HONEY, and KAS. This prediction is supported by recent trends in the asset's exchange netflow, which has turned negative in the past two days, according to CryptoQuant. This shift towards self-custody methods and away from centralized exchanges is seen as a bullish sign, as it reduces immediate selling pressure.

Bullish

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