Although the cryptocurrency market started 2024 with the sectoral developments it wanted, it recorded a slight correction with the “sell the news” event. The correction movement led by Bitcoin is moving towards an upward trend again. With Bitcoin surpassing $43,000 altcoin The market also started to move.
Investors continue to search for assets with potential to make profits. Industry experts highlight popular altcoins such as Solana, Shiba Inu and XRP on the grounds that they have a stronger development curve.
Solana (LEFT)
solana (SOL) has been one of the best-performing cryptocurrencies in 2023, reaching $123.6 on December 25. However, the price has lost significant value since the 2023 peak. There are many analysts who interpret the price drop as a profitable entry point for new investors. The arrival of a bull run later this year would bring the possibility of the altcoin retracing and exceeding its 2023 highs. The asset has the potential to even reach an all-time high with high market and investor sentiment.
Solana (SOL) also saw an increase in orders for its mobile phone Saga. This development may also be reflected in the price of the asset.
Shiba Inu (SHIB)
Shiba Inu (SHIB) remains one of the most popular cryptocurrencies on the market. Although the popularity of Meme coin is not reflected in the price, investors’ expectations remain high. However, the SHIB community and investors still continue to pursue the ‘one cent dream’. If the crypto market enters a bull run, an increase in SHIB price is likely. Moreover, the SHIB team is preparing to activate the mechanism that they believe will burn trillions of tokens annually. The project’s huge supply is one of the key obstacles to higher prices. If the team can reduce the supply of SHIB, a sudden increase in the price of the asset is possible.
Popular Name of the Altcoin World: Ripple (XRP)
XRP, remains one of the most popular cryptocurrencies for cross-border remittances. However, Ripple continues to wage its legal battle with the SEC (Securities and Exchange Commission). Although the company received a favorable ruling from a U.S. district court, the case was appealed to the supreme court and investors are awaiting a decision. There is a possibility that the supreme court will make a decision similar to the district court, which could push the price of XRP to new highs.