Tag: altcoins

Shiba Inu (SHIB) has enjoyed a period of rallying as the broader market saw gains in the last week or so. But even as bulls try to get the coin up and up, they have had to face several major resistance zones in the process. But SHIB could swing up by 20% in the near term. Here are the latest facts on the price action:

• Bullish run for SHIB is facing major resistance at $0.0000273

• The coin has tested that price in the last few days but has failed to overcome

• SHIB could rise by another 20% if indeed that zone is breached in the coming days.

Data Source: Tradingview 

Shiba Inu (SHIB) – Price analysis and prediction

After showing a lot of weakness at the start of March, Shiba Inu and most meme coins have all rallied. The coin has now managed to pair up some of the losses made this year and is already above its 20- and 50-day exponential moving averages. 

Despite the recent uptrend, SHIB has faced major resistance at $0.0000273. Bulls have tested the price several times in the last two trading sessions but so far it has not been breached. 

However, looking at other momentum indicators, it is likely that the overhead resistance will break. When this happens, SHIB could surge by over 20%. But if bulls somehow fail to get over that price, the token could fall back to $0.0000231.

Is Shiba Inu (SHIB) ideal for buying?

There is a short-term play here with the $0.0000273 resistance. If the price action goes above that, you can expect a swing of at least 20%, so it will be a good time to buy. 

As for long-term investors, it would be best to wait for a significant pullback before you buy. You do not want to be buying close to resistance.

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There has been a lot of talk about the crypto rally over the last two weeks or so. Many coins have posted gains in double digits, while others like Zilliqa have hogged the headlines with their massive uptrends. Why has the crypto market surged anyway? Here are some reasons:

• Uncertainty around the fed rate hike appears to have died out.

• Investors are flocking into crypto as a bet against growing inflation.

• The downtrend at the start of 2022 has provided the perfect dip to buy in.

Well, with all the factors above, a few coins appear to have really rallied, and yet they haven’t gotten a lot of attention. Here they are:

Aave (AAVE)

As one of the leading DeFi protocols in the world, Aave (AAVE) has always had a positive long-term outlook. But the last two months have been quite volatile for the coin. It had bottomed to new yearly lows in 2022, and there was very little hope of any rebound. 

Data Source: Tradingview 

Despite this, AAVE has rebounded sharply and in fact, the coin has posted gains of nearly 50% over the last 7 days. This is one of the best weeks for AAVE this year.

Chiliz (CHZ)

The story of Chiliz (CHZ) is also filled with surprising turns. Like many altcoins, it was routed during the start of the year and failed to find any serious upward momentum. But just out of nowhere, the coin started to shoot up and has maintained that uptrend ever since. CHZ has gained over 50% in the past week alone.

STEPN (GMT)

We were expecting STEPN (GMT) to see gains in the last few days. But so far, the bullish breakout has been astonishing. The coin has delivered 80% in gains in just a day and is already up by a whopping 180% over the last 7 days. It is one of the top performers in crypto now.

When Solana (SOL) was launched, it was seen as the most serious alternative for Ethereum. Ever since the blockchain has seen massive growth and continues to attract a host of top projects as well. But why is Solana highly rated by developers around the world? Here are the main reasons:

• The chain offers high scalability for DAPPs.

• The overall gas fees are way lower compared to other blockchains.

• Solana also runs various incentives designed to bring in as many developers as possible.

For investors looking for promising projects built on the Solana blockchain, we have a list of three here below that you can check out:

Serum (SRM)

Serum (SRM) is the main DEX for the Solana network. It is designed to reflect all the attributes of the blockchain, including better speeds, security, and low fees. Serum is however more than just an exchange. 

Data Source: Tradingview 

It’s an integrated DeFi protocol as well that allows it to offer additional services like staking and others. So far, the Serum DEX has a market cap of around $453 million. There is more room for Serum to surge in the long term.

Star Atlas (ATLAS)

Play-to-earn is seen as one of the most promising subsectors of the blockchain industry. We have seen these games go on to report massive gains in 2021, and this trend is likely to continue. 

Solana has also attracted its fair share of Play-to-earn, and Star Atlas (ATLAS) is one of the most notable ones. The game is developed by the Unreal engine and is set in an immersive virtual universe.

Raydium (RAY)

Raydium (RAY) is a liquidity provider that works using an automated market maker protocol. The goal for Raydium is to provide liquidity for the Serum DEX, but there are plans to expand it further. RAY is currently on a market cap of $350 million.

The play-to-earn space of the blockchain ecosystem has seen immense growth over the last few months. In fact, Axie Infinity, which is one of the main projects in play-to-earn, saw massive gains in 2021. Here is why play-to-earn will continue to grow:

• There is increased integration of blockchain gaming with the metaverse

• Play-to-earn has also seen increased NFT integration as well.

• We are likely to see increased institutional capital towards play-to-earn.

So, if you want solid Axie Infinity alternatives, here are the top 3 coins that you consider in the meantime.

Splinterlands (SPS)

Splinterlands (SPS) is largely a collectible card game that involves rapid battles between users as well. In essence, players will get the chance to build a unique collection of cards, each backed by NFTs. They will then try to battle each other in a wide range of skill-based games where winners earn rewards.

Data Source: Tradingview 

It is also possible to buy and sell collectibles within the Splinterlands universe. The native and governance token for the game is called Splintershards, and its current market cap is around $65 million. This suggests it has the potential to go further.

Battle of Guardians (BGS)

Developed by Unreal Engine, Battle of Guardians (BGS) is a multiplayer NFT powered fighting game. It has multi chain capabilities as well since users can access it either via the Binance Smart Chain or Solana. The game offers a truly immersive experience and is one of the most exciting play-to-earn projects in the market right now.

CryptoKitties (WCK)

CryptoKitties (WCK) is a blockchain based game that lets users collect and breed cute digital kitties. All these kitties are backed by NFTs as well. The game has a dedicated catalogue where players can also view and buy kitties that they want. CryptoKitties was released in 2017, and while it was slower to hit the ground running compared to Axie, it has since managed to gain a huge following. 

Waves (WAVES) has hit record highs in a recent bullish run that appears to be stronger than ever. The coin has smashed past several key indicators and looks like bulls still have a lot of room to run. So, what should you expect next? More on this to follow but first, here are some notable developments:

• Waves had rallied nearly 50% in 24 hours though it retreated slightly.

• The 24-hour surge is part of a weekly uptrend that we saw last week.

• The coin has now smashed past its all-time highs.

Data Source: Tradingview 

Waves (WAVES) – What comes next?

The rally today came on major news from the platform. Waves will now begin operations in the US and is setting aside a lot of money to bring in developers to the ecosystem. But this is not the only thing. Over the last 2 weeks, the coin has been rising and rising. 

It has gone past several resistance zones and unleashed a bullish momentum that has taken it well above its ATH. Although it is likely Waves will pull back, we do not see this happening in the coming days. 

In fact, waves is likely to test $60 in the days ahead before any sell-off even comes into the picture. The coin has for now paired all losses reported this year and is looking forward to Q2 with a vengeance.

Should you buy Waves (WAVES) now?

There is no doubt WAVES is on the run. Every indicator is bullish right now, so it’s the best time to buy for any short-term trader. Q2 also promises to be a very big period for this token. 

$60 is well in sight in the near term and as such, this gives investors a very good opportunity to make decent returns as they take advantage of this bullish sentiment.

Over the past week, Dogelon Mars (ELON) has been one of the main meme coin performers. The toke is up nearly 40% in a week or so and has shown significant bullish momentum. But how long can it sustain gains before a major sell-off? More analysis in the post but here are some important facts first.

• Dogelon Mars has outperformed the entire market by almost 15% in the past week.

• The coin has closed higher in the last four days in a row

• In the last two days alone, ELON has surged by over 25%.

Data Source: Tradingview 

Dogelon Mars (ELON) – Can bulls maintain the uptrend?

Despite this recent surge, it seems like the price action has been bouncing off two crucial support and resistance zones. In fact, ELON has tried to surge past the overhead resistance zone of $0.0000012, but bulls have not managed to get enough demand. The coin is however getting closer and closer and could break through in the coming days. 

If this happens, then we should have a sustained upward breakout that could deliver minimal gains of about 30%. Also, the sentiment in the crypto market is showing good signs. This means that investor appetite towards meme coins, which are largely speculative assets, is returning. For this reason, it is likely that in the near term, ELON will report more and more gains.

Is Dogelon Mars a good buy now?

The key for short-term traders is to watch the $0.0000012 price. If the meme coin can rise above this, then it is likely that more gains will come. We are looking at an upswing of around 30% before any pullback. 

So, with that in mind, Dogelon is a good buy. But from a long-term point of view, it would be best to wait until sentiment in the crypto market has fully stabilised before jumping in.

With hype a key price driver during alt-season, ApeCoin could be better.

• Shiba Inu is a meme coin that took the markets by storm in 2021 after it rallied by millions of percentages.

• ApeCoin is the new kid on the block in terms of hype, driven by its connection to the bored Ape NFT community.

• Now that alt-season is starting, ApeCoin makes for a better buy for investors looking to capitalize on the hype. 

Shiba Inu SHIB/USD is a meme coin that came to prominence in 2021. It went on to record gains of over 48,000,000%. Shiba Inu was largely driven by the hype around meme coins that Elon Musk triggered in 2020. Shiba Inu continues to be one of the meme coins that hold a lot of potential going into the future.

That’s because there are lots of investors who are still betting heavily on meme coins. This is driven by expectations of a repeat of the gains of 2021 at some point in the future. Besides, the Shiba Inu team is working hard to improve SHIB’s core metrics. For instance, the team is in the process of building a Metaverse platform. With the massive potential that the Metaverse holds, this is a factor that could see SHIB perform well in the future. 

On its part, ApeCoin APE/USD is the new kid on the block and is attracting all the hype. ApeCoin rallied by over 2000% since launch and continues to draw high volumes relative to most cryptocurrencies in the market. This has a lot to do with its connection to the Bored Ape community, which at the moment, is the most popular NFT community in the market. 

So, which one is a better buy?

Both Shiba Inu and ApeCoin are good investments. However, now that alt-season seems to be kicking off, it is best to move with the flow to maximize gains. Using this approach, ApeCoin is a much better buy than Shiba Inu at the moment. The odds are in its favor since it is currently drawing a lot of hype. 

Summary

Shiba Inu and ApeCoin are both fantastic long-term investments. However, for an investor looking to make the most out of their investment short term, ApeCoin has more potential. There is a lot of hype around it, and it’s now where Shiba Inu was back in January 2021.