Strong rally signals for 5 altcoins are starting to come. This is also a bullish sign. So which ones are they? Let’s look at our article.
Increase expectation for altcoin SHIB
The Shiba Inu (SHIB) is trading in the $0.00000724 to $0.00000812 price range. Expectations are rising for Shibarium’s August launch. Lucie urges Doge Killer (LEASH) token holders to take up senior roles. The Shiba Inu has entered a consolidation phase as the daily chart reveals a price range between $0.00000724 and $0.00000812. However, market analysts think that a potential break from the primary resistance level during this consolidation phase could push the price of the Shiba Inu coin higher.
On the other hand, according to experts, investors in the Shiba Inu cryptocurrency should be patient. According to Coinmarketcap, the fact that Shiba Inu’s trading volume dropped by 2.30% in the intraday trading session is pointing to something. This indicates that sellers are continuing their efforts to lower the SHIB price. On the other hand, the biggest expectation right now is Shibarium. It will be on the market after a conference in Toronto in August. Shibarium aims to reduce data overhead and fees by combining multiple off-chain transactions into a single Layer 1 transaction. Analysts also expect the launch of Shibarium to lead to price increases in other tokens such as Unification (FUND).
Altcoin Stellar rises fast
Altcoin Stellar (XLM) has recorded a surprise rise. Accordingly, it has placed itself at the forefront of the craze in the crypto market. This surge, which started on July 18, put the digital asset on a solid price rally. On the other hand, it carried its value to new heights. Currently, XLM is trading at $0.1617, up 22.1% in the last 24 hours. Even more striking is that it rose 68.8% in the previous week. Also its outstanding performance dominating the top 100 cryptocurrencies list.
The remarkable rise of XLM first started an important development in the crypto space. That’s Ripple Labs’ legal victory over the US Securities and Exchange Commission (SEC). It also recorded an impressive 72.3% climb at the time of writing. This is attributed to the solid performance of XRP. XLM market cap is at $4.5 billion.
Bull expectation for Dogecoin
A popular cryptocurrency analyst known as Altcoin Sherpa has predicted the price of Dogecoin ($DOGE). Accordingly, he announced that he believes DOGE will increase by over 600%. Sherpa emphasized that he believes DOGE can retake the $0.50 mark, which represents a significant rise from the current $0.0709 price tag. However, Sherpa states that it may take some time for this expected growth to occur. Accordingly, he warned that this could deter long-term investors from exploring other potential opportunities.
The analyst also warned that other meme coins, including SHIB and PEPE, could erode DOGE’s momentum. Dogecoin last traded above the $0.50 level in 2021, at a time when search interest for the cryptocurrency exploded, leading to a massive 10,000% price spike. Dogecoin was created as a joke in 2013.
A bullish signal for MKR?
Lookonchain revealed that CMS Holdings and a16z have deposited large amounts of MKR on exchanges in the past 24 hours. The price of MKR was settled at $1,142.05 after 24-hour gains of over 15%. It shows that despite recent deposits, a16z still has 12,396 MKR. At the time of the tweet, a16z’s total MKR assets were worth $14.4 million.
Meanwhile, CMS Holdings deposited 525 MKR in Binance earlier today. Lookonchain announced that CMS Holdings has withdrawn 1,325 MKR worth $1.54 million from the leading exchange platform in the past few weeks. The price of MKR managed to climb above the strong resistance level of $1,066 for the first time since October 17, 2022. This resulted in the level turning into support as well. This bullish momentum then continued to push the altcoin’s price above the next major mark at $1,155. If MKR’s price fails to close a 4-hour candle above $1,155 before the end of today’s trading session, it will be at risk to retest the recently broken $1,066 level in the following 24 hours. Continuing selling pressure could bring the price of MKR down to as low as $987 next week.
Ethereum gives bullish signals
Ethereum’s recent price performance has been pretty quiet since it hit $2,132 in mid-April. In mid-June, Ethereum benefited from Bitcoin’s rise. Accordingly, ETH rose from $ 1,650 to $ 1,890. On July 12, Ethereum suddenly rose 8.07%. It also briefly reached the $2,025 level. The subsequent decline has so far reached 6.71%. It allowed ETH to trade at $1,888 on the Bitstamp exchange.
On the other hand, a centiment report indicates bullishness for Ethereum. According to the Santiment report, there are hints of the future of Ethereum’s rise. One is that traders are diverting their attention from ETH. Accordingly, there is a situation where he is “tired of moderate price action”. They are now heavily watching the rise of XRP and LINK prices. Santiment says that after these cryptocurrencies, it will be Ethereum’s turn. In addition, when we look at cryptokoin.com, there is an emphasis that a bottom price has occurred for ETH. Price dips are usually followed by buyers becoming outnumbered by sellers and the price rising again. Santiment analysts state that at some point in August, Ethereum could reclaim the $2,000 level.
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