A Solana (SOL)-based decentralized exchange (DEX) altcoin surged by more than 5x on Friday after South Korea’s largest crypto exchange rolled out trading support for the asset.

Traders on the Seoul-based Upbit can now purchase and unload DRIFT, the native asset for the Drift Protocol, an open-source DEX that enables transparent and non-custodial trading.

Explains the project’s whitepaper,

“Drift was designed with a goal to be capital-efficient but also protective of your assets. We achieved that by setting up sophisticated cross-margined risk engine – a system of tools with an extensive protection from over-extending risk. For instance:

• In the lend/borrow markets, you can also use collateral for perpetual futures and trade more efficiently with spot assets.
• Every token you deposit can earn you more through borrowing and also act as a collateral for perpetual swaps.
• Borrowers can only borrow if they have more collateral than needed, following multiple safety measures for extra protection.”

DRIFT surged to a new all-time high of $2.60 on Friday, a 400% increase in just 24 hours when it traded at $0.51 on November 8th. The altcoin has retraced since and is trading at $1.98.

The token launched in May and has witnessed multiple bullish catalysts this year. Coinbase rolled out support for DRIFT days after its launch, and the crypto investment firm Multicoin Capital disclosed a sizable position in the asset in September.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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A widely followed analyst and trader is leaning bullish on a large-cap altcoin amid a broader crypto market rally.

The analyst pseudonymously known as Pentoshi tells his 809,700 followers on the social media platform X that Solana (SOL) is in the “all-time high waiting room.”

On the weekly time frame, Pentoshi shares a chart suggesting that Solana has formed a double-bottom pattern, a technical analysis structure that’s typically considered bullish as buyers step in to keep an asset from printing new lows.

According to the widely followed analyst, Solana is on the cusp of taking out its resistance at around $204, which has kept SOL bearish since 2022.

“While there could be some short-term resistance ahead, I don’t expect to last too long.

Structurally this looks great, and in my opinion, dips are for buying.

It should be challenging all-time highs this month.”

The analyst also says his long-term target for Solana is a price around 110% above the current level.

“Above $200 and it likely sees all-time highs shortly after. Long-term target $420.69. Not a cent higher.”

Solana is trading at $200 at time of writing, up by around 20% this month.

Turning to the wider altcoin market, Pentoshi says that TOTAL3, which tracks the total market cap of all crypto assets excluding Bitcoin (BTC) and Ethereum (ETH) and stablecoins, is likely to rise by about 14% from the current level.

“Altcoins. I think we will see a breakout in the near future and move back towards the $760 billion mark. It keeps knocking at this and I believe the space got the green light.”

The market cap of TOTAL3 is hovering at $668 billion.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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A popular crypto strategist is suddenly flipping bullish on an altcoin connected to a viral game on the encrypted messaging platform Telegram.

Analyst Ali Martinez tells his 77,300 followers on the social media platform X that Notcoin (NOT) could soar 100% from its current value.

“Notcoin is showing a promising risk-to-reward setup. With a falling wedge pattern forming, it could be primed for a bullish breakout toward $0.012!”

A falling wedge breakout is a technical analysis pattern that is used to identify bullish reversals in an asset’s price. The pattern is characterized by a series of lower highs and lower lows that form a wedge-shaped pattern on the chart.

As the pattern progresses, the distance between the highs and lows decreases, which indicates that the selling pressure is weakening. When price breaks out of the upper trend line of the wedge, it’s traditionally considered bullish.

NOT is trading for $0.006 at time of writing, up 7.9% in the last 24 hours.

The analyst is also bullish on Ethereum (ETH), suggesting it could soon hit $6,000.

“The risk-to-reward ratio on Ethereum is too good to pass up for a long position! I’ve set my stop below $1,880 and am aiming for a target of $6,000.”

Looking at his chart, the analyst suggests ETH is holding the bottom trend line of the ascending channel as support and could soon re-test the upper bound at around $6,100.

Next up, the analyst suggests that Dogecoin (DOGE) may see an explosive rally, in part, due to billionaire Elon Musk. Musk, one of the memecoin’s most famous supporters, is now close to US President-elect Donald Trump, after playing a role in his election.

The analyst also believes DOGE may repeat a historic pattern based on Fibonacci extensions, which traders use in technical analysis to estimate profit targets and price pullbacks. They are based on Fibonacci ratios.

“With Elon Musk now influencing the 47th President, Donald Trump, Dogecoin could be primed for a wild ride! In past bull cycles, once DOGE broke the 0.50 Fibonacci retracement, it often rallied to the 1.618 or even 2.272 Fib levels. If history repeats, we could see DOGE hit somewhere between $4 and $23!

Dogecoin is trading for $0.1969 at time of writing, up 15% in the last 24 hours.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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