Sherpa, a highly followed crypto analyst, has forecasted a significant surge for the altcoin Hyperliquid (CRYPTO: HYPE).

What Happened: In a post on X, Sherpa shared his bullish perspective on Hyperliquid. The crypto analyst anticipates that HYPE, a utility token of the decentralized open financial system, could surge by at least 116% from its current level before the end of this cycle.

Despite seeing potential in HYPE, Sherpa advises his followers to gradually scale in their positions. He also mentioned, “Not one to give you a 10x at these current levels for this cycle in my opinion but could still be a safe one to hold.”

Last month, the altcoin earned $26.5 million in USDC revenue through platform fees and ticker auctions.

Regarding XRP, Sherpa advises patience, noting that it’s not at an ideal level for long entries. When it comes to Cardano (CRYPTO: ADA), Sherpa sees strength in the altcoin on the weekly time frame, predicting it could continue to rise if other first-generation altcoins appreciate.

Also Read: Crypto Trader Says These Two Meme Coins Are Set To Spike — And Neither Of Them Are Dogecoin Or Shiba Inu

Lastly, Sherpa remains optimistic about Dogecoin (CRYPTO: DOGE), the largest memecoin by market cap. He suggests that DOGE could trade within a range for a while before revisiting its 42-month high of around $0.485.

Why It Matters: Sherpa’s predictions are significant given his large following and the current volatile nature of the crypto market. His bullish outlook on Hyperliquid could potentially influence other traders and investors.

His cautionary advice on XRP and optimism for Cardano and Dogecoin also provide valuable insights for those navigating the crypto market.

However, as always, investors should conduct their own research and consider multiple perspectives before making investment decisions.

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