The cryptocurrency market is showing signs of recovery with Bitcoin regaining the $66,000 level in the last 24 hours. However, it is still down on the weekly charts due to the selling wave last week. However, with BTC halving just around the corner, we may observe another market rally soon.
So, let’s take a look at three cryptocurrencies that could surge 1000% this year.
Shiba Inu (SHIB)
Shiba Inu (SHIB) is one of the most popular crypto assets on the market. During the 2021 bull run, the price of SHIB increased by thousands of percent. There is a possibility that the dog-themed meme coin could exhibit a similar move in the next bull run.
Additionally, the SHIB team stated that the price of the asset could reach $0.00008845 before BTC halving in April. Reaching $0.00008845 from current levels would indicate an increase of more than 234% in the price. Additionally, this would be a new all-time high for the cryptocurrency.
Moreover, the SHIB team is working on a new burning mechanism that is rumored to burn trillions of tokens annually. If the team can drastically reduce the supply of the cryptocurrency, we could witness a massive price increase.
Cardano (ADA)
Cardano (ADA) is another popular cryptocurrency that could surge by 1000% this year. According to analyst Ali Charts, the asset’s current pattern resembles a similar pattern observed from 2018 to 2021, before the asset reached its all-time high. Ali says if this pattern continues, ADA could consolidate between $0.55 and $0.80 in the coming weeks.
However, the analyst notes that after a period of consolidation, the asset could rise to $1.70, an increase of around 150% from current levels. Moreover, Ali Charts says a rise to $1.70 could set the stage for a breakout to $5.
Ripple (XRP)
XRP had a slow rally in February despite double-digit rallies by other assets. XRP’s lackluster performance may be due to Ripple’s ongoing litigation with the SEC (Securities and Exchange Commission). If Ripple receives a favorable decision from the supreme court, we may experience a sudden increase in the adoption and price of XRP.
