Bitcoin continued to fall from a high of around 64,500 to an integer level around 60,000. After Ethereum hit a maximum pressure of around 2,520, it is now back to the 2,350 support level. Yesterday, it hit a maximum of around 2,470 twice, creating an atmosphere of a new downward trend. However, after careful observation, we found that although the price fell a lot yesterday, the trading volume did not further expand, which is a relatively good phenomenon. Just like the previous pull-up and shrinking volume were beaten back by the bears, this wave of decline has shrunk, and we will observe the bulls’ counterattack!
Overall, don't panic too much! The same is true for Ethereum. On the eve of the release of the US core CPI, Bitcoin and the Nasdaq diverged. I personally prefer the final wash rather than the start of a new round of decline! Industry experts predict that Bitcoin will reach $150,000, and several other cryptocurrencies below $1 may have similar characteristics. These include , Shiba Inu (SHIB) and Fantom (FTM). In addition to having a strong market, these currencies are also quite strong psychologically, because once Bitcoin reaches the predicted number, they may reach at least $10.
Shiba Inu (SHIB) rose by 1000%
SHIB recently achieved a 43% price increase in just 9 days, driven by expanding on-chain activity, whale trading activity, and rising social dynamics. According to Santiment, SHIB’s current surge is driven by the fear of missing out (FOMO) and its burn mechanism, which could support long-term price gains. Experts predict that as the market heats up, SHIB could climb to new all-time highs, potentially reaching $0.001, trading at $0.00001587. Some experts predict that Shiba Inu (SHIB) will jump 1,000% and erase zero in the next bull run. As Bitcoin is expected to soar in value, SHIB may benefit from institutional investors entering the cryptocurrency market, providing a competitive option for those looking to earn substantial gains.
Fantom (FTM) embraces the trend of network modernization
One of the strongest performing tokens in recent weeks is Fantom (FTM), which has gained more than 70% in the past 30 days. The price of FTM has surged in anticipation of the Sonic update, which will increase the efficiency and speed of transactions on the Fantom blockchain. The update could push FTM to unprecedented heights and could soon increase the cost of the token from the current $0.68 to $10. The increase in Fantom’s total locked value (TVL) and daily active addresses indicates growing user activity on the platform, which could generate demand for FTM. Experts say that the price of FTM will rise as the network grows and acceptance increases, leading to good investment possibilities.
DOGE
Dogecoin has shown significant movement recently. It is priced at $0.109319, up 1.73% in the last 24 hours. Over the past year, Dogecoin has experienced massive growth of 85%, outperforming 57% of the top 100 cryptocurrencies during the same period. This indicates relatively strong performance compared to other assets.
In the past 30 days, Dogecoin has closed higher than its daily opening price 16 times, accounting for 53%, which shows that the price activity is still strong. In addition, Dogecoin has high liquidity relative to its market value, so it is easier to trade.
Looking into the short term, next week’s forecasts suggest a possible decline. By October 21, 2024, the forecast range is between $0.107916 and $0.096179. If DOGE reaches the upper estimate, it would mean a drop of 10.88%.
