After being in the green for a few days, the cryptocurrency market has been on the decline for a while. There is some recovery before the upcoming Fed meeting. In this article, let’s examine 6 altcoin projects from analyst Motiur Rahman’s list that confirm bottom prices. These analyzes are only estimates and are not precise.
6 altcoins to watch in case of a sudden rally
Ethereum (ETH)
Ethereum is seen as the leader to lead the altcoin market as Bitcoin recovers. This is because of Ethereum’s upcoming big news as well as its status as the biggest altcoin. Recently, Ethereum merge has passed the test phases successfully. During the last EthCC conference, it was announced that the merge would be implemented by September. Thus, Ethereum will become efficient and scalable by now. According to analysts, if Bitcoin rises amid this news, Ethereum could outperform many other altcoins.
Shiba Inu (SHIB)
Meme coins have performed quite well during times of market rallies. Last year, one of the most famous and best performances was Shiba Inu (SHIB). Therefore, when Bitcoin starts another rally, the Shiba Inu will accompany this momentum. However, this isn’t just about speculation about his past performance. There is a lot going on in the Shiba Inu ecosystem right now…
For example, the Shiba Inu team recently announced a Visa Card that burns SHIB. With this card, users can burn SHIB while making payments. Thus, the near-unlimited supply of SHIB decreases somewhat. Investors and the crypto community see these events as reason to believe in SHIB.
ApeCoin (APE)
Despite the poor market performance for crypto in 2022, the appetite for NFTs remains strong. When Bitcoin rises again, one of the notable markets will be NFTs. ApeCoin (APE), one of the most well-known examples of this lane, may rise in such a scenario, according to analysts.
As Cryptokoin.com reported, Apecoin is preparing for a class action lawsuit. We have covered the details in this article.
Ripple (XRP)
XRP (XRP) is attracting the attention of investors due to the recent good news from Ripple. XRP has been on the decline since the SEC lawsuit that started in 2020. However, there are important developments that indicate that the case is nearing its end. Also, we see that the financial industry still prefers the Ripple network for various transactions.
Some of this news comes from Ripple’s growing number of partnerships, especially in Asia. The most recent of these was the partnership between Ripple and FOMO Pay, one of Singapore’s top financial institutions. FOMO Pay aims to improve transaction liquidity using the Ripple network. Since XRP is an integral part of this system, it is emerging as a viable cryptocurrency to buy today.
Cardano (ADA)
Cardano (ADA) has lost most of its value since the bear market started in December 2022. But Cardano’s on-chain metrics suggest it’s about to turn the corner. Santiment data shows that Cardano’s average funding rate points to a potential rally for Cardano.
According to Santiment, there has been a sharp increase in the number of ADA longs liquidated. If past examples are anything, then chances are Cardano is in a buying position at current prices. So, with Bitcoin holding key support and bouncing, it’s not hard to see why ADA could be positioned for a rally.
Dogecoin (DOGE)
Elon Musk’s favorite cryptocurrency has a lot of potential if the markets show bullish signs again. Dogecoin was flooded by individual investors with tweets from Musk last year. It is also becoming a more functional currency like Shiba in Dogecoin.
One is technology upgrades aimed at making DOGE better perform as a daily payment currency. The latest such move is to move Dogecoin nodes to a new core called v.14.6. This upgrade, among others currently happening in the Dogecoin ecosystem, helps boost the price of Dogecoin should there be a market rally in 2022.
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