Almost all altcoin projects are moving well below their highs last November. However, many analysts and experts give various bullish forecasts. Unlike these predictions, the price expectations of the CoinMarketCap community draw attention. Popular altcoin projects such as SHIB and Cardano will hit these levels in July, according to forecasts determined by the votes of thousands of investors.
SHIB could reach these levels in July
The community at CoinMarketCap used the platform’s “Price Predictions” tool, which allows users to make crypto price predictions. Accordingly, they predict that the SHIB token will trade at an average of $0.000002065 by the end of July 2022. The crypto community’s price predictions for July 31 refer to an increase of $0.00001039 from the current $0.000001026. So according to the community, the Shiba Inu price will increase by 101.30% by the end of July. At the time of writing, 16,403 community members had voted to reach the above estimate. However, the CMC community also voted for the August price prediction. According to 8,308 user votes, SHIB will change hands in August at $0.00001761.
Since the beginning of the year, the SHIB price has been moving in a downtrend. Meme coin recorded a strong drop, especially in the first half of May, with a few short-term gains in the meantime. However, it continues on a steady downward trajectory. The dog-themed token is down 60.82% from its price of $0.000034 on January 1. Currently, it finds buyers at $0.00001026. Additionally, the market cap of the token currently hovers around $5.62 billion, according to CMC data.
What does the CMC community envision for Cardano (ADA)?
The extremely bearish nature of the cryptocurrency market has dominated in recent months. However, many investors are considering Cardano (ADA), the largest Proof-of-Stake (PoS) altcoin, for an entry opportunity. Besides SHIB coin, the CMC community also made predictions for ADA. According to the community’s prediction, the popular altcoin will be traded at an average price of $ 0.88 until the end of July 31, 2022. This represents an increase of 95.82% from the current price of Cardano. According to CMC data, the forecast is based on an average of 20,482 votes. For the estimation made for the end of August, 11,592 people voted. Accordingly, the community expects a price of around $ 0.80 for ADA in August.
Cardano dropped as low as $1.60 at the start of 2022. Then, it suffered a gradual decline in line with the overall crypto market. Overall, the trend remains bearish, although a few short-term gains have been recorded. As shown by the charts and statistics, the current price of ADA reveals a 3.85% drop on the day. It also states that it was trading at $0.45, down 8.13% over the previous week. The total market cap of the altcoin project is currently around $15.2 billion, according to CMC.
Cardano’s Vasil hard fork upgrade
Despite the setback, Cardano had a successful launch on the testnet. Then, Vasil started the final preparations for the hard fork update. As we reported on Kriptokoin.com, the Vasil hard fork has the potential to cause a rally in the ADA price. Historically, hard forks have had such an impact on assets. Indeed, Cardano founder Charles Hoskinson described the Vasil hard fork as “the biggest upgrade in the network.” Also, “stacks have never been higher,” he said.
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