đŁ SHIB and Dogecoin Set for Major Price Movements, Analyst Predicts
The cryptocurrency market is on the brink of major price movements, according to well-known analyst Rekt Capital. As the end of the year approaches, Rekt Capital believes that the market could experience life-changing shifts, particularly for altcoins like SHIB. The long-standing downtrend appears to be breaking, which could signal a massive rally for certain cryptocurrencies, pushing the altcoin market toward a potential valuation of $780 billion.
đž Learning from Past Trends: A Look at the Altcoin Market
Drawing from historical data, Rekt Capital has noted that the altcoin market has shown similar patterns in the past. In mid-2021, altcoins experienced significant growth, only to see a sharp correction afterward. Despite this, the market found support at a key level and began rising again in early 2024. Now, weâre seeing signs of recovery after another recent drop, as buyers are accumulating altcoins at lower levels, reflecting renewed confidence in the crypto space.
đž Upcoming Critical Week for Crypto Investors
The analyst emphasizes that technical analysis suggests the market may be gearing up for a major move, with âhigher lowsâ emerging on the chartsâoften a sign that a market is ready to break out. If this downtrend is fully reversed, altcoins like SHIB and Dogecoin could see significant price increases in the short and long term.
đž Potential Gains for SHIB and Other Altcoins
Among the most closely watched cryptocurrencies are SHIB and Dogecoin, both of which are showing potential for breaking out of their respective downtrends. Dogecoin, in particular, is signaling the potential for a sharp rise if current trends are confirmed. This momentum could extend across the altcoin market, paving the way for new highs and possibly even record-breaking prices.
In addition to Dogecoin, the analyst also commented on Fetch.ai and Injective, two other altcoins worth watching.Â
