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  • Shiba Inu (SHIB) and Aptos (APT) price outlook

    Shiba Inu (SHIB) and Aptos (APT) price outlook

    • Bitcoin’s dip below $30,000 and subsequent retest of resistance above$29k highlights the past week’s top coins outlook.
    • Shiba Inu (SHIB) price is below its 50 and 200 MA but analysts are bullish on SHIB given overall sentiment and network growth.
    • Aptos (APT) price has formed a massive bull flag pattern that could see APT explode to new highs in 2023.

    The cryptocurrency market continues to see significant volatility as prices of various tokens fluctuate near key levels. Bitcoin (BTC) price fell to around $27,200 this past week and saw the global cryptocurrency market cap drop from above $1.34 trillion to $1.25 trillion amid broader sell-off pressure.

    BTC price is however back above $29,000 and has retested resistance near the psychological $30k level this weekend.

    At the same time, several altcoins that have recently seen dramatic declines look positioned for fresh moves, with cryptocurrency bulls buoyed by fresh turmoil in the banking sector with troubles for US bank First Republic.

    Here’s the price prediction for Shiba Inu (SHIB) and Aptos (APT).

    Shiba Inu (SHIB) price prediction

    Shiba Inu price is down nearly 10% in the past two weeks, having traded lower from highs above $0.000011 recently.

    SHIB currently trades below its 50 MA and 200 MA, while the daily RSI is below 40 to suggest bears might have a slight advantage.  

    Shiba Inu (SHIB) daily price chart. Source: TradingView


    But the 16th ranked cryptocurrency, which remains one of the top memecoins with a market of $6.1 billion, has a growing community buoyed by the success of the testnet for layer 2 protocol Shibarium. 

    On-chain data shows the protocol has enabled over 194,000 transactions and seen over 100,000 wallet interactions.

    If an upside flip in the price amid new buy Shiba Inu pressure, the main short term target will be the $0.000035 level. The 2021 all-time high provides another key level and a move to $0.01 could be the Holy Grail of the upcoming bull cycle.

    Aptos (APT) price prediction

    Aptos (APT) is a new layer 1 blockchain network that’s benefitted from massive investment by venture capitals. The Aptos mainnet went live recently and the demand for the native APT token saw the price rally to the YTD peak of $19.92 in January.

    Aptos (APT) price daily chart. Source: TradingView


    Currently trading around $10 has the APT/USD pair roughly 46% off the January highs. However, analysts remain bullish on the Aptos price.

    Crypto analyst Captain Faibik recently highlighted Aptos bullish flag pattern. If a breakout follows, a move to $20 in the short term could be one of the main targets. 

    Meanwhile, this Aptos price prediction for the medium term sees a potential burst to a new all-time high.

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  • ARB, APT ,LRC soar as altcoins mirror ETH breakout to $2.1k

    ARB, APT ,LRC soar as altcoins mirror ETH breakout to $2.1k

    • Altcoins are soaring, with the prices of Arbitrum, Aptos, Loopring , Optimism and Rocket Pool seeing double digit gains.
    • Ethereum price broke above $2,100 and ARB, RPL and OP prices are among the biggest gainers in the top 100 cryptocurrencies by market cap today.
    • Analysts says altcoins have been buoyed by ETH breakout after Shanghai, even as Bitcoin dominance fell.

    Altcoins are thriving, but have a small window to see some joy amid the latest spike for Ethereum price, a top analyst has said.

    Crypto market intelligence platform Santiment highlighted the move among altcoins as coming amid a pivot of profits from Bitcoin to smaller cap cryptocurrencies. The sentiment flip around alts also happens at a time Ethereum dominates the social discussion volume following its breakout above $2k.

    ARB, RPL and OP prices soar as profits pivot to altcoins amid ETH breakout

    On Friday, as ETH broke above $2,100 for the first time since May 2022, several altcoins followed suit, with Aptos (APT), Arbitrum (ARB), Rocket Pool (RPL), Optimism (OP) and Loopring (LRC) registering mega moves.

    Arbitrum has spiked more than 18% in the past 24 hours to hit highs of $1.57, while Aptos price was also up double digits as bulls pushed for $14. 

    Meanwhile, Loopring traded to highs of $0.45 with +11% and Rocket Pool traded to near $52 with 18% in 24 hours. Optimism price rose to $2.64 with another +10% gain.

    According to on-chain data, the altcoin market is starting thrive after Bitcoin (BTC) dominance over the past few weeks.

    While BTC extended its gains above $30k – hitting highs of $30,800 on Friday – the major move was seen in Ether after the super successful Shanghai upgrade. 

    ETH/USD first broke above $2,000 and then followed that up with a decent punch above $2,100 (buying pressure pushed Ethereum price to highs of $2,130 on crypto exchange Bitstamp.

    Analyst Captain Faibik says the Bitcoin Dominace as measured by the market cap parabolic curve formation is showing a sell point. BTC dominance has shrunk to 44%, while that of Ethereum has risen to 19%. As the price of BTC rises and BTC.D falls, it suggests alts have a massively bullish opportunity and may begin to rally.

    Altcoin rally? Analysts warn traders

    While top crypto analysts are pointing to Ethereum as “a leading indicator for altcoins,”(we highlighted Rekt Capital’s view here), some have said the “window” might not be that big and a pullback is likely. 

    Scott Melker, author of The Wolf Den Newsletter, says altcoin traders should “enjoy it while it lasts.” 

    Michael van de Poppe expects Bitcoin to rally to $40k and Ethereum to $2,800-$3,000 range. Alts should be seeing some momentum too – but the window will likely be small, he noted.

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