Why can't this curse be broken? Every month at the beginning, the crypto market experiences a pullback. Bitcoin is currently testing support around 95k. If it holds, it will continue to challenge six digits; if it doesn't, it may need to explore lower levels, testing the support at the 90k round number. So, will December see a pullback following the old pattern before another surge, or will it be a complete washout? What about altcoins? Remember to like, follow, and bookmark, and feel free to come back at the end of the month to check my claims.
First, from the current market capitalization share of Bitcoin, there may still be room for a pullback below. This also indicates certain rebound potential for altcoins; after all, as Bitcoin's market share decreases, the market capitalization of altcoins correspondingly increases.
Furthermore, various data and news from around the world in December have been released, such as ADP, non-farm payroll, CPI, interest rate decisions, and the earlier mention that tech giant Microsoft would decide whether to make Bitcoin a reserve asset for the company at the beginning of this month. If approved, it would undoubtedly increase buying power, but at the same time, market volatility would also intensify. Regardless, this bull market is progressing step by step through levels and phases, from Bitcoin to Ethereum, from Ethereum to mainstream, and then to established altcoins, such as Ripple XRP, which was suggested for layout around 1.3.
Currently, with a strong rebound from the second-largest cryptocurrency, some altcoins have also seen certain gains, so a slight adjustment is normal. This indicates that the real bull market for altcoins is brewing, and appropriate pullbacks won't affect the overall bullish trend ahead; instead, it presents opportunities for us small investors.
4 major cryptocurrencies' bull markets may surpass the overall market, skyrocketing 100 times in the future!
1.SHIB
Shiba Inu's second-layer protocol has reached an interesting benchmark, with a total locked value (TVL) of $8.57 million at a new high. Although SHIB's current TVL has fallen to $4.58 million, data shows that Shiba-related activities dominate with $3.06 million, followed by WoofSwap and ChewySwap, contributing $875,270 and $497,016 respectively.
Shibarium's wallet activity is also increasing, nearing 1.9 million addresses. This growth indicates high participation, and new wallets may contribute to the recent SHIB all-time high during staking. Even so, the community's unwavering involvement continues to highlight Shibarium's long-term growth and innovation potential.
2.PEPE
PEPE is a new meme coin that has created waves on the Ethereum blockchain. Inspired by Matt Furie's Pepe the Frog (a meme that gained massive popularity on the internet in the early 2000s), this cryptocurrency has its fun roots. PEPE aims to join the ranks of popular meme-based tokens like Dogecoin and Shiba Inu, standing out with its tax-free policy and straightforward approach. It does not claim to have utility value; instead, it makes things simple and fun, attracting enthusiasts who appreciate its meme culture origins.
From late April to May 2023, PEPE experienced an astonishing surge, with its market cap skyrocketing to $1.6 billion. Early adopters saw significant gains, and a vibrant community formed around the currency. This explosive growth contributed to what some called the 'meme coin season,' where the values of various meme-inspired tokens rapidly rose and fell. PEPE's roadmap is ambitious but focused, aiming for listings on major exchanges and 'meme supremacy.' Although the future is uncertain, PEPE's rise reflects the current market trend of community-driven projects gaining attention. As the cryptocurrency world anticipates the next Bitcoin halving and potential bull market, tokens like PEPE showcase the dynamic and unpredictable nature of the cryptocurrency market.
3.DOGE
Dogecoin started as a joke in 2013. It was created by Billy Markus and Jackson Palmer and features the Shiba Inu from popular memes as its logo. Unlike Bitcoin, which has a limited supply, Dogecoin was designed with an abundant supply in mind. 10,000 new coins are mined every minute, with no cap. Initially a fun and friendly cryptocurrency, it quickly gained a loyal community.
In 2021, Dogecoin's value skyrocketed, with a market capitalization exceeding $50 billion. This growth was driven by social media and support from celebrities like Elon Musk.
Dogecoin's technology is based on Litecoin, enabling fast and easy transactions. Its ample supply makes it an ideal choice for small online transactions and rewarding content creators. Some view Dogecoin as a symbol of how online communities impact the market. In the current cryptocurrency market, Dogecoin remains popular. It offers an easy entry into crypto compared to other coins. Although it started as a joke, its development shows that even a joke can have a significant impact.
4.ADA
Cardano has made a name for itself in the cryptocurrency world. It is a flexible and scalable platform designed for smart contracts, meaning it supports decentralized finance applications, new cryptocurrency tokens, and even games. The native currency ADA allows users to store value, make payments, and stake on the network. It positions itself as a competitor to Ethereum ETH. What sets Cardano apart is its environmentally friendly approach. Unlike other cryptocurrencies that use energy-intensive methods, it employs the Ouroboros proof-of-stake system. This makes it more energy-efficient and better for the environment.
In today's market, Cardano's unique features make it a standout participant. The blockchain is divided into two layers: one for transactions and one for smart contracts. This design helps process up to one million transactions per second. In March 2021, Cardano launched native tokens, enabling secure and low-cost interactions with smart contracts. This enhanced efficiency and scalability. As the cryptocurrency market seeks more sustainable and scalable solutions, Cardano's approach can make ADA attractive to those interested in the future of blockchain technology.
