It’s essential for every crypto investor to remember that it often gets worse before it gets better! The current state of the market structure might seem pretty rough, especially with the period before and after the approval of Bitcoin ETFs causing a significant shift in crypto fortunes. When Bitcoin surged to a record high of $73,837, altcoins like Terra Classic (LUNC), Shiba Inu, and Sui looked promising, hoping to reach unprecedented levels.
Market Position Of Major Crypto Coins
- In the last 24 hours, the market has been quite volatile, with Bitcoin initially bouncing back above $63,000 before dropping to test support at $60,000. This led to potential altcoins taking a hit, with double-digit losses on Friday.
- Ethereum lost support at $3,000 and is now hovering above the $2,900 mark. Solana is back below $150, trading at $147 currently, while Dogecoin, Cardano, and others are experiencing deeper losses.
- Focus on certain altcoins for investment could provide investors with a bigger perspective. Using DCA strategies can help build holdings, and positioning for potential maximum returns.
Top 3 Altcoins That Crypto Investors Should Consider
1. Terra Classic (LUNC)
Terra Classic is currently at $0.0001072, up 2.38% during the last day. Despite this price increase, trading volume fell 18.19%, totalling about $24.13 million in the last 24 hours. The current market cap is $621.91 Million, which ranks 113th in terms of market cap.
Last week, the Terra Classic market gained an impressive 7%, which has raised investor interest. Such a move could provide momentum to quickly test the $0.00012 resistance. If the bullish pressure continues, the price could get even closer to a staggering $0.0002.
2. Shiba Inu (SHIB)
Shiba Inu Coin has shown great resilience and a strong recovery in recent hours. Over the past week, SHIB has gained just over 3%, with prices hovering between $0.0000224 and $0.0000261.
Despite a 14% decline due to market momentum over the past month, its current valuation signals growing optimism among investors, and could mark a change from market trends down into the mark of more bullish market conditions.
Recently, A well-known figure in the SHIB ecosystem, Lucie, said SHIB can reach $0.01 sometime between 2033 and 2040.
In recent news, the meme highlighted the cryptocurrency Shiba Inu’s dramatic increase in burn rate, which has increased by more than 5500%. According to Shib Burn, about 26 million Shib tokens were removed from circulation yesterday. This move has raised hopes in the market for this client-themed cryptocurrency.
If the market recovery continues, the Meme cryptocurrency could surpass the $0.000025 mark, potentially increasing its price to $0.00003. This increase could pave the way to reach the $0.00003 level. With continued upward pressure, SHIB could rise to $0.00005 by the end of April.
3. Sui (SUI)
Sui (SUI), an innovative Layer 1 blockchain platform, is rapidly gaining attention due to its focus on secure, fast and confidential digital asset management It stands out for offering scalable blockchain solutions, which are reflected in its critical Total Value Locked (TVL). The recent increase in knife prices to $1.09, up 8% in one day, indicates strong market interest.
Despite a slight decline in recent weeks, this increase indicates growing confidence in Sui’s potential as a leading new cryptocurrency. It currently ranks 46th in CoinMarketCap, with a market cap of $2.5 billion. Investors see Sui as competition to replace Solana, potentially turning a $10,000 investment into $500,000.
That’s it for this Altcoin News from our side!
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Disclaimer: This post is intended solely for informational purposes and should not be taken as legal, tax, investment, financial, or any other form of advice. Although all the information provided is true to the best of our knowledge, it is advisable to research well before making any kind of investments or decisions in general. The team of ReadingCrypto bears no responsibility in the event of any adverse outcomes.
