According to CryptoPotato, analysts are forecasting a bullish trend for Bitcoin (BTC), predicting spikes to $72,000-$74,000 and possibly above $100,000 by the end of 2024. Shiba Inu (SHIB) is seeing increased adoption and a significant rise in its burn rate, alongside a resurgence in the Shibarium network. Ripple’s XRP also shows potential for a rally, with predictions of price movements toward $0.75 and possibly up to $18 based on historical patterns.
The primary cryptocurrency, BTC, has been on a downtrend in the last month, continuing to underperform in the past several days. It plunged toward $64,500 on June 18 before slightly rebounding to its current level of approximately $65,800. Despite the negative trends, some analysts speculate that the asset is headed for a new bull run in the following months. Crypto Rover recently claimed that BTC has 'bottomed' and is now poised to spike to $72,000-$74,000. Ali Martinez and Titan of Crypto were also bullish, suggesting that the asset might yet reach its cycle top, assuming it mimics its performance in previous bull runs. They believe the price could peak around December 2024 or by October 2025.
The second-largest meme coin in terms of market capitalization, SHIB, made the headlines due to its increasing adoption. The popular gaming platform The Sandbox revealed that it holds SHIB and other meme coins such as DOGE, PEPE, BONK, and more. Prior to that, SHIB made waves due to its burn rate, which exploded by over 12,000% on a 24-hour scale, and the resurgence of the layer-2 scaling solution Shibarium. The network, which aims to foster the development of Shiba Inu, witnessed a spike in new contracts and daily transactions.
Ripple’s XRP is among the few leading cryptocurrencies seeing some gains on a weekly basis. It briefly surpassed $0.51 on June 17, currently hovering the $0.49 level. Earlier this week, World of Charts and Dark Defender envisioned a further rally for the asset. The former noted a 'breaking falling wedge with strong volume,' expecting a possible move towards $0.75 in the following days. Dark Defender was even more optimistic, predicting a price explosion toward $18 should XRP repeat its performance from years ago.