The altcoin market has been in an uptrend again for the past 2 to 3 weeks. This drives greedy investors to pursue new opportunities. In this article, let’s talk about 3 risky cryptos that should definitely be on your radar in the coming days.
How is the cryptocurrency market in early 2023?
In the past few weeks, most cryptocurrencies have seen a huge surge. Bitcoin price has climbed from $16,500 at the beginning of the year to over $21,000 in the past few days. Ethereum has seen a similarly strong percentage increase. Many other altcoins recorded even stronger percentage gains.
In other words, we are now at a point where we were in terms of price (in terms of Bitcoin) before the famous FTX crash of November 2022. The momentum is on the upside, but it could be stopped by the $21,000 resistance in bitcoin price in the next few days.
On the other hand, high-risk cryptocurrencies offer a certain chance for their value to rise sharply. However, many investors have already lost a lot of money with such investments. In the rest of the article, let’s examine 3 selections from this category from the list of analyst Rudy Fares.
3 risky altcoin projects that deserve attention
The top-ranked XRP is part of the Ripple payment network and saw an extremely strong bull especially at the beginning of 2017/2018. However, it’s like an hourglass against Ripple’s legal dispute with the American stock market watchdog SEC. If Ripple loses this case, XRP’s course could change completely. However, a victory in the case could result in a price explosion. As such, it is currently the #1 pick from XRP analysts when it comes to “high-risk cryptocurrencies.”
In litigation developments, according to the most recent updates by attorney James K. Filan, all motions have now been fully summarized and the judge’s decision is awaited. This is good news for XRP investors waiting for the legal process to end.
Shiba Inu (SHIB)
Shiba Inu emerged as the second largest meme coin and a parody of Dogecoin. It saw extreme price increases in a very short time in 2021. However, investors who bought late took a loss. Because the nature of meme coins is that they are extremely volatile and prices can drop rapidly again. That’s why SHIB and DOGE always rank first among risky crypto investments.
cryptocoin.comAs you follow, Shiba Inu gained momentum thanks to the recently announced Shibarium Beta launch. With the Shibarium news, SHIB and BONE had the opportunity to recover around 5%. It might make sense to get Shiba Inu ecosystem tokens on the radar, as the Shibarium Beta is scheduled for February.
Dogecoin (DOGE)
The last-ranked Dogecoin has managed to maintain the meme coin kingdom until now. Doge was conceived as a parody of Bitcoin and gained global acceptance in 2021 with the influence of Elon Musk. It has since completed multiple bull markets and even survived a bear market. This means that Dogecoin has proven itself longer than the Shiba Inu. Still, let’s not forget that it is quite volatile and has seen both extreme highs and extreme lows.
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