Shiba Inu is undoubtedly a fast-rising meme coin. Having solidified its position as the second largest mem coin by market cap and the eleventh largest in the crypto realm, the Shiba Inu dog-themed coin is a pacesetter. However, its trajectory in the past months has been unsteady, with the coin currently facing a 17% dip and unaffected by bullish actions like the Shibarium hard fork. While Shiba Inu massive token burn presents an opportunity for an unprecedented surge, SHIB surge to $1 still needs to be revised in 2024. With SHIB price mostly depreciating in the past month, investors’ confidence has also declined, emphasized by a 15.66% drop in large transactions of over $100,000. Generally, Shiba Inu’s trajectory in 2024 remains uncertain, and with the bears in control, the crypto market may not see SHIB soar to $1 in 2024.However, three SHIB alternatives stand a better chance of hitting the $1 milestone in 2024. They include Cardano (ADA), Dogecoin (DOGE), and Retik Finance (RETIK).
Cardano (ADA)
Cardano is a formidable alternative for Shiba Inu, posing better chances of reaching the $1 milestone. This achievement for Cardano (ADA) in 2024 is not merely a speculative fantasy but a realistic possibility backed by a confluence of favorable market dynamics, strategic investor behaviour shifts, and significant ecosystem advancements. The recent breakthrough in ADA price was accompanied by a notable change in investor behaviour, particularly a shift from short-term to medium-term investment horizons. This shift is evident in the reduction of holdings by short-term traders and the increase in ADA held by medium-term investors. Such a transition signifies growing confidence in ADA’s long-term value proposition, as medium-term holders are less likely to sell their holdings on short-term market fluctuations. Additionally, ADA trading pattern reveals its struggle to consistently maintain its position above the new support level at $0.46. However, sustained closure above this threshold is crucial for ADA’s ascent towards $0.50 and beyond, paving the way to $1. Moreover, Input Output Global (IOG), the research and development arm for the Cardano network, has been actively working on enhancing various aspects of the ecosystem. With investors and analysts confident in ADA potential to surge above the current support level, 2024 may end with ADA at the $1 mark.
Dogecoin (DOGE)
Despite recent market corrections, Dogecoin has shown resilience, trading above key support levels and exhibiting signs of bullish momentum. Particularly, it has witnessed a significant accumulation by whales. On May 7th, addresses holding between 100 million and 1 billion DOGE increased their holdings by 1%, capturing 21% of the total supply. This increase, totaling 265.86 million DOGE, indicated a bullish sentiment among large holders. Additionally, Whale Alerts reported the transfer of 120 million DOGE tokens, valued at $18 million, from Robinhood to unknown wallets, suggesting continued accumulation outside of exchanges. If accumulation trends continue and bullish sentiment persists, Dogecoin’s price could surpass resistance levels at $0.16 and $0.20, eventually paving the way for a push towards the $1 mark. Technical indicators provide further insights into DOGE price trajectory. The convergence of the 50-week and 200-week simple moving averages (SMAs) could signal a golden cross, a bullish indicator that has historically preceded significant price rallies. Several analysts, including Rekt Capital and Ali Martinez, have backed up technical analysis with their bullish predictions, confirming DOGE potential to reach $1 in 2024.
Retik Finance (RETIK)
Retik Finance (RETIK) entry into the crypto space has posed significant challenges for several altcoins, including the notable Shiba Inu. Its undeniable bullish path has been tagged the DeFi giant and the most bullish altcoin in 2024. Retik Finance ecosystem, launched as a pioneer in blockchain technology adoption, offers amazing innovative solutions, including DeFi debit cards, smart crypto payment gateway, a non-custodial DeFi wallet, a swap aggregator, and AI-powered P2P lending. These cutting-edge solutions will lead its journey toward fostering a decentralized finance revolution. Moreover, with a successful presale that raised an impressive $32,050 million, Retik Finance has caught the eyes of investors and quickly became the favorite of crypto whales. This success was soon complemented by a colossal surge of over 400% for RETIK.
Additionally, Retik Finance’s upcoming official token launch on May 21 could be the last piece, propelling it to an unprecedented surge and confirming its position as a Shiba Inu competitor. The token listing, set for May 21st by 12PM UTC, will occur on Uniswap and various exchanges. With the arrival of this promising DeFi altcoin, bullish sentiment is high, leading to bold predictions of 5000% increase in RETIK value following the listing. The listing is poised to be a catalyst for a chain reaction, propelling RETIK to parabolic heights in 2024.
Under $1 Altcoins for Exponential Profits
While Shiba Inu (SHIB) is unlikely to soar to $1 in 2024, three Shiba Inu alternatives, Cardano (ADA), Dogecoin (DOGE), and Retik Finance (RETIK), have shown a higher potential to surge to the $1 milestone in 2024: Cardano and Dogecoin charts signal a bull rally ahead, propelling them to $1. However, Retik Finance (RETIK) has higher potential, possibly pumping in 5000% gains in the coming months following its mega bullish token listing event. Hence, it offers the best opportunity for investors in 2024.
Visit the links below for more information about Retik Finance (RETIK):
Website: https://retik.com
Whitepaper: https://retik.com/retik-whitepaper.pdf
Twitter: www.twitter.com/retikfinance
Telegram: www.t.me/retikfinance
The post Shiba Inu Price Forecast: Why Reaching $1 in 2024 Is Unrealistic and 3 Best SHIB Alternatives to Buy this Bull Run: Cardano (ADA), Dogecoin (DOGE), and Retik Finance (RETIK) appeared first on Crypto News Land.
