A popular crypto analyst thinks one top-30 altcoin is gearing up for a parabolic rally.

The pseudonymous analyst known as Altcoin Sherpa tells his 240,200 followers on the social media platform X that HYPE, the utility token of decentralized perpetual futures exchange Hyperliquid, may more than double in value this cycle.

“The pump to $50 will be glorious for HYPE. Hyperliquid. One of my bags.”

Looking at his four-hour chart, the trader suggests that HYPE is looking bullish as it has been trading in a range with a lower bound of $18.53 and an upper bound of $26.57, and it is also trading above exponential moving averages.

HYPE is trading for $23.20 at time of writing, up 4.9% in the last 24 hours.

Next up, the trader says Solana (SOL) has more room to run as the Ethereum (ETH) competitor threatens to take out the $260 resistance level on the weekly chart.

“SOL is still going to keep grinding up and still should be the best layer-1 for now. Uncertain if this outperforms BTC but I think the past few weeks that it’ll keep outperforming ETH unless some serious changes happen.”

SOL is trading for $255 at time of writing, up 1.8% in the last 24 hours.

Lastly, the trader says that despite its recent correction he remains bullish on Fartcoin (FARTCOIN), a memecoin that incorporates an artificial intelligence (AI) framework for the purposes of generating ideas and content.

“This nuked, same as the rest of the market. I am unsure what to think on the over-the-counter news for FARTCOIN, but I still view this as a great meme for this cycle…

Took some off of my position but still in a lot. Overall, this is a pretty ugly move and I’ll reevaluate everything. Still bullish Fartcoin but I won’t round trip this.”

FARTCOIN is trading for $1.26 at time of writing, down 12.2% in the last 24 hours.