The cryptocurrency market has struggled to deliver impressive performance over the past month. Following the approval of spot Bitcoin ETFs in the US, the market enthusiasm that led to this milestone has faded. Thus, Bitcoin visited below $40,000. However, the leading cryptocurrency has made a significant recovery since then. It also dragged a large part of the market along with it. February may be a good opportunity for the recovery to continue. According to the crypto expert nicknamed Unifred, these four coins aim to influence the market.
In first place is the popular meme coin Shiba Inu (SHIB)
After losing 18% in the first month of the year, the second-largest meme coin by market cap will be out to impress once there is a clear indication of where the market is heading. Whales have been accumulating the cryptocurrency since it broke below the $0.00001 level. Additionally, ecosystem initiatives such as token burn remained stable.
Additionally, several key indicators, including TD Sequential, point to an imminent recovery. It will be interesting to see whether February will bring the return that SHIB investors have been hoping for. The token was trading around 0.0000090 at the time of writing. SHIB has a mountainous task ahead of it to regain the $0.00001 mark this month.
Ripple’s native cryptocurrency XRP is also on the list
cryptokoin.comAs you follow from , January was a month to forget for XRP. Because the token lost both $0.6 and $0.5 levels. The troubles were further compounded by the security breach in personal wallets held by Ripple Chairman Chris Larsen. These developments and mixed price movements in the market mean that XRP is currently changing hands at $0.49. Still, many analysts point out that XRP’s underperformance is similar to a period in 2017 that led to parabolic price movement.
Market participants will want to see if February signals the beginning of such potential bullish price movements. Ultimately, a different outcome would mean even more problems for XRP holders. Additionally, the token needs to start giving investors reasons to believe again.
We continue the list with Cardano (ADA)
Being among the top 10 cryptocurrencies, Cardano is another altcoin that will be out to impress. In January, ADA lost its position as the eighth-largest crypto asset as Circle’s USDC grew significantly. Although ADA remains in eighth place, it needs to gain nearly $9 billion in market capitalization to catch up with USDC. Notably, the token has an impressive average monthly return for previous Februarys. Now, he will try to improve that position once again. ADA is trading at $0.4958 during mourning.
The last cryptocurrency: Polygon (MATIC)
Polygon’s MATIC could not escape the attack on altcoins in January. MATIC lost 20% of its value during the month. As a result, it fell below the psychological price of $1. However, February could be an opportunity for MATIC to reverse course, especially if a mini altcoin season begins during the month.
MATIC is often among the first movers among altcoins. He will also enjoy getting a chance in the spotlight as soon as market performance improves. There may not be an increase above $1 on the cards. However, given MATIC’s impressive track record of surprising the market, it shouldn’t be ignored completely.
The opinions and predictions in the article belong to the expert and are definitely not investment advice. cryptokoin.com We strongly recommend that you do your own research before investing.
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