FTX’s Ghost Token: Can FTT Defy the Odds and Deliver 5X Returns?

FTX’s native token, FTT, has plummeted amid the continued Bitcoin-led price correction, lately hitting a low of $1.37, down roughly 15% from its weekly high of $1.6109. The token has additionally declined over 20% from its price a month ago.

Nonetheless, some market analysts leer attainable in FTT, making a wager on predominant price development. In an X post, technical analyst Mags printed amassing FTT over the previous few weeks, acknowledging that FTT is a “shitcoin” lacking inherent utility to steal its price previous market speculation.

Irrespective of this, Mags asserted that FTT may possibly additionally abilities gains of up to 500% when market stipulations relief, arguing that FTT will either leer a 5X rally or drop to zero.

Specifically focusing on a $10 price level, the analyst predicts an “inverse FTX” scenario for FTT, drawing parallels to FTT’s price of $25 magnificent days sooner than FTX’s financial worry. Following the financial worry in November 2022, FTT lost nearly 100% of its price, hovering around $1 ever since. Mags anticipates a dramatic comeback for FTT in the present bull market, equivalent to its outdated trajectory.

Specifically focusing on a $10 price level, the analyst predicts what he calls an “inverse FTX” scenario for FTT. This outlook is impressed by the true fact that FTT traded as high as $25 magnificent days sooner than FTX went bankrupt.
Mags is no longer the supreme one projecting an “inverse FTX” case for FTT. Analyst Javon Marks in fact handy as nicely that FTT is in an oversold fashion, in keeping with technical indicators. He projected an impending 270% rally, potentially pushing FTT to the $6 degree sooner than any additional upward circulate.