Here are two cryptocurrencies that you should closely watch:
1. Solana (SOL): Solana aims to surpass the crucial $150 resistance zone, which could lead to another record-high price. The decentralized finance (DeFi) platform is gaining significant attention, especially due to the popularity of meme coins launched on the platform. Meme coins like Dogwifhat (WIF) and Bonk Inu (BONK) gained prominence and competed with established players like Shiba Inu (SHIB). However, the focus has shifted to cat-themed tokens, which has contributed to the spike in SOL’s price. Additionally, Solana’s network has seen a notable increase in locked value, indicating growing user engagement, confidence, and liquidity. Solana is currently trading at $147 and has gained almost 4% in the last 24 hours.
2. Shiba Inu (SHIB): Shiba Inu stands out among cryptocurrencies with notable gains, surging by over 10% in the last 24 hours. Besides the overall bullish sentiment in the market, SHIB benefits from increased trading activity, token burns, and ongoing network developments. The recent successful hard fork of Shiba Inu’s layer-2 blockchain solution, Shibarium, addresses user concerns regarding network usability and transaction efficiency. This upgrade promotes faster transaction speeds, cost-effective transactions with predictable gas fees, and improved security. Technical indicators suggest a potential bullish breakout for SHIB, with analysts predicting a growth of almost 180%. Currently, SHIB is valued at $0.000026 and has rallied almost 6% in the last seven days.
Both SOL and SHIB’s prices will likely be influenced by the overall market sentiment. It’s important to conduct thorough research and consider the inherent risks before making any investment decisions.