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4 Shiba Competitor to Buy to Turn $1 to $1000 in 2024

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2 months ago

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The cryptocurrency market has shown renewed strength as Bitcoin recently crossed the critical $64K resistance level, spurring excitement among investors. With the broader market gaining momentum, many focus on potential Shiba competitor outperforming SHIB itself. 

These alternative tokens could offer exponential growth opportunities, potentially turning a mere $1 investment into $1000 by 2024.

Shiba Competitor to Turn $1 to $1000

Dogecoin (DOGE)

Dogecoin (DOGE), a leading meme-based cryptocurrency, has experienced a significant rise in value over the past week. The DOGE price surged to $0.12, reflecting a 12% increase within seven days. Over the past year, the meme coin has seen an impressive 94% rise, reinforcing its status as the Shiba competitor in the digital currency.

The chart shows a significant surge in whale transactions and price movement of Dogecoin (DOGE). DOGE experienced high activity in early April, with a steady decline through July. However, starting in mid-September, a noticeable uptick in whale transactions and prices indicates renewed bullish momentum and market interest in DOGE.

4 Shiba Rivals to Buy to Turn $1 to $1000 in 20244 Shiba Rivals to Buy to Turn $1 to $1000 in 2024
Source- Santiment

TRON (TRX)

TRON (TRX) has established itself as a significant player in the decentralized digital entertainment arena. Over the past year, the platform has impressively surged by 75%, making it a noteworthy competitor to Shiba Inu. Currently, TRX price is trading at $0.1559, experiencing a slight decline of 1%.

 However, the price has increased over the past week. The surge in TRX can be attributed to rising meme coin trading on the network. Additionally, the Total Value Locked (TVL) on TRON has expanded, now standing at $7.87 million, highlighting its growing importance in the decentralized finance (DeFi) landscape.

4 Shiba Rivals to Buy to Turn $1 to $1000 in 20244 Shiba Rivals to Buy to Turn $1 to $1000 in 2024
Source- defillama

Pepe (PEPE)

Pepe (PEPE), an Ethereum-based cryptocurrency, has recently experienced a remarkable price increase of 1,326% over the past year. This impressive growth has positioned PEPE as the leading meme coin in the market.

In the last week, the token saw a notable rise of 37%, further solidifying its role as a significant player in the altcoin landscape. At the time of writing, the PEPE price is trading at $0.00001106, with a slight surge.

The Relative Strength Index (RSI) is currently at 71.55, indicating overbought conditions, which may suggest a possible price correction in the near term. Meanwhile, the Moving Average Convergence Divergence (MACD) shows positive momentum, but the recent performance suggests a potential slowdown in bullish activity.

4 Shiba Rivals to Buy to Turn $1 to $1000 in 20244 Shiba Rivals to Buy to Turn $1 to $1000 in 2024
Source: TradingView

Cardano (ADA)

Cardano (ADA) is gaining significant attention as it gears up for promising developments. The ADA price has risen by 8% in the past week, reaching $0.3852. Investors are optimistic about further price increases, which has led some to compare it to the popular Shiba Inu token. This momentum reflects growing confidence in Cardano’s future potential.

Recent sentiment data shows a noticeable bullish trend in ADA’s price. This trend appears to be driven by increased social volume surrounding the asset. ADA’s price has fluctuated since the start of September, but a steady climb is evident. Social media activity has surged, suggesting heightened interest among investors. This growing enthusiasm may lead to further price appreciation in the coming weeks. 

4 Shiba Rivals to Buy to Turn $1 to $1000 in 20244 Shiba Rivals to Buy to Turn $1 to $1000 in 2024
Source: Santiment

With the cryptocurrency market showing signs of recovery, these four Shiba competitor hold significant potential. Investors who act quickly could see extraordinary gains, possibly turning a $1 investment into $1000 by the end of 2024.

Frequently Asked Questions (FAQs)

Shiba Inu rivals are cryptocurrencies that compete in the meme coin or altcoin space, potentially offering similar or better growth opportunities than SHIB.

TRON has surged by 75% over the past year, driven by increased trading activity and growth in decentralized finance (DeFi) on its network

Pepe has experienced a remarkable 1,326% price increase in the past year, making it a standout player in the meme coin market.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Why Is Cardano Price Poised To Hit ATH Soon?

Published

6 days ago

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November 17, 2024

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Cardano price has been on the investors’ radar lately, as evidenced by the recent ADA rally. Besides, a flurry of developments around Founder Charles Hoskinson has also sparked optimism in the market over further rallies. Amid this, market experts have predicted a strong rally ahead for the crypto.

So, let’s explore the potential reasons that may help ADA price to continue its gain in the coming days.

Reasons Why Cardano Price Poised To Hit ATH Soon

A flurry of recent market developments hints at potential ATH for Cardano price soon. For context, in a recent X post, Cardano founder Charles Hoskinson lauded the ADA community, citing it as the “best community” and said that it has the best entrepreneurs as well. Besides, he also predicted the Voltaire update to make the ecosystem the “finest government ever assembled by humanity.”

This post reveals the founder’s confidence in the community, which could extend the ongoing rally in ADA price. Additionally, Charles Hoskinson visiting Elon Musk’s SpaceX office has also sparked speculations, especially given the individual’s growing influence in the US political landscape.

Besides, Hoskinson has recently said that he would support the Trump Government in shaping crypto legislation. He aims to help the US administration in crafting clear regulatory frameworks for digital assets, which have faced regulatory pressure over the past few years.

ADA Rallies As US Appeal Soars

The recent comments from Ripple CEO Brad Garlinghouse have also sparked market optimism. In a recent FOX Interview, Garlinghouse said that XRP, ADA, SOL, and other crypto issued by the US companies have noted strong rallies in recent days, surpassing other crypto. He said that the anticipation over pro-crypto policies under the Republican government has fueled the rally, while many anticipate the Trump rally to continue to benefit the crypto.

Besides, a flurry of market pundits predicts that crypto to note a strong rally ahead. For context, prominent crypto market analyst Ali Martinez said that Cardano price is poised to hit $6 in 2025, further fueling anticipation over the ADA rally to its new ATH.

Cardano price chartCardano price chart
Source: Ali Martinez, X

Notably, ADA price has recently soared past the $0.78 mark, marking its highest level since March 2024. Besides, Cardano Futures Open Interest also rose more than 20% over the weekend, CoinGlass data showed, indicating the growing confidence of the investors.

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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ADA Price

Analyst Says Cardano Price Is “Bottoming” After Hitting Two-Year Low

Published

1 month ago

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October 18, 2024

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Except for the brief rally in early 2024, Cardano has been on a downtrend since its all-time high (ATH) of $3.1 in August 2021. ADA currently trades at $0.347, a level that was last seen two years ago. However, market analysts are suggesting that Cardano price could be forming a long-term bottom, hinting at a potential reversal and the start of a bull rally. However, investors should remain cautious as Bitcoin faces a tough resistance level of around $67,000 and could disrupt altcoin moves.

Why is Cardano Price Down Today?

ADA price today is down 0.2% in the last 24 hours and trades at $0.3476. This bearish outlook for Cardano is not localized and can be seen across the board. This can be attributed to capital rotation into Bitcoin as it approaches key levels and hints at a breakout form its seven-month consolidation. As a result, top altcoins tend to slide lower as investors allocate capital into BTC, a less risky bet than alternative cryptocurrencies.

ADAADA

Regardless, let’s take a look at Cardano price form a long-term perspective and see if it is bottoming.

Analyst Says Cardano Price Could be “Bottoming”?

Analyst Sam Mti noted that the ADA price could be bottoming out on the weekly after hitting a two-year low. However, the early Bitcoin trader said he was not interested in investing in the asset as there was no “buy signal.”

ADAADA

Considering that ADA is down 90% from its ATH, the chances that a bottom could be forming is higher. However, a breakout rally might occur soon. 

ADA Price Analysis: What’s Next For Cardano?

Cardano price action seems to be consolidating after hitting the bottom, which is a classic sign of accumulation. In comparison, Chainlink (right) underwent an accumulation for about 1 year before finally breaking out to the upside.

 

ada vs linkada vs link

Cardano underwent significant changes in 2024, including the Chang hard fork, which converted ADA into a governance token, and the successful demonstration of Hydra’s speed on the DOOM game at the Rare Evo 2024 blockchain conference.

Nevertheless, despite these huge milestones for the network, ADA price performance has been underwhelming. 

Cardano price is in a Wyckoff accumulation phase, which typically precedes a bullish move.  The price has been moving horizontally, oscillating between a demand zone around $0.30 and a supply zone near $0.40.

This kind of price action indicates accumulation, where smart money is quietly buying up tokens before a potential bullish breakout.

Accumulation phases can take time to complete as the asset consolidates within the range before building momentum for a breakout.

In the short term, the price is likely to continue oscillating between these two levels. If the accumulation pattern continues, we can expect a breakout above the $0.42 level, which could lead to a bullish rally targeting levels as high as $0.50 or beyond.

The relative strength index (RSI) is currently around 46, which is neutral. This indicates that the price has room to move either upward or downward in the short term. It’s neither overbought nor oversold, allowing for further consolidation or the beginning of an upward move.

Cardano PriceCardano Price
Cardano Price Analysis Chart

If the Cardano price breaks below $0.31, it could trigger a larger bearish move, with potential targets at $0.27, $0.24, $0.22, and possibly lower. This would invalidate the current neutral-to-bullish thesis and confirm the completion of the accumulation phase.

Frequently Asked Questions (FAQs)

Cardano price action has been independent of Bitcoin’s recent performance. ADA’s decline can be attributed to a mix of market conditions and investor sentiment.

According to some analysts, including early Bitcoin trader Sam Mti, Cardano’s price may be “bottoming out” after reaching a two-year low.

Analysts are cautiously optimistic but suggest waiting for clearer buy signals. While some signs indicate the price may be bottoming out, there’s still a risk of further dips.

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Evans Karanja

Evans Karanja is a crypto analyst and journalist with a deep focus on blockchain technology, cryptocurrency, and the video gaming industry. His extensive experience includes collaborating with various startups to deliver insightful and high-quality analyses that resonate with their target audiences. As an avid crypto trader and investor, Evans is passionate about the transformative potential of blockchain across diverse sectors. Outside of his professional pursuits, he enjoys playing video games and exploring scenic waterfalls.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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ADA Price

Turn $1 to $1,000 with 3 Cardano Rivals by Year-End 2024

Published

1 month ago

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October 14, 2024

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The cryptocurrency market is gaining momentum, with Bitcoin surpassing $64,000, triggering enthusiasm among investors. Several Cardano rivals have shown impressive expansions, potentially transforming small investments into considerable profits by end of year 2024. These altcoins have the potential to outperform, with some experts predicting exponential growth.

3 Cardano Rivals To Turn $1 to $1,000

Shiba Inu (SHIB

Shiba Inu (SHIB) price has climbed by over 160% in the past year, emerging as a possible contender to Cardano. Built on the Ethereum ecosystem, SHIB saw a 30% surge in the past 30 days, driven by increased crypto activity and token burns. Currently, the SHIB price is trading at $0.00001806, and it has gained 2% in the last 24 hours.

SHIB price saw its Market Value to Realized Value (MVRV) ratio rise from 0.89 to 0.95 between October 11 and 13, according to data from IntoTheBlock. This increase indicates that investors hold their assets longer, leading to a higher market value than the realized value.

Turn $1 to $1,000 with 3 Cardano Rivals by Year-End 2024Turn $1 to $1,000 with 3 Cardano Rivals by Year-End 2024
Source: IntoTheBlock

TRON (TRX)

TRON (TRX), a decentralized blockchain-based system by the Tron Foundation, has surged 90% in value over the past year. Currently, the TRON price is at $0.1602, this growth is fueled by TRON’s token burns and rising interest in meme coins like SUNDOG. 

Increased network participation and investor confidence have driven its performance, positioning TRX as a strong competitor against Cardano and other altcoins, with promising potential for further gains by year-end 2024.

According to Coinglass data, the TRON price experienced significant upward movement in trading volume and open interest. The surge in volume points to heightened market activity, reflecting strong investor engagement.

Turn $1 to $1,000 with 3 Cardano Rivals by Year-End 2024Turn $1 to $1,000 with 3 Cardano Rivals by Year-End 2024
Source- Coinglass

Sui (SUI)

Sui (SUI), a Layer 1 blockchain platform, is gaining significant traction due to its focus on secure, fast, and private digital asset management. The platform offers scalable solutions, with its Total Value Locked (TVL) reaching $1.12 billion. The SUI price recently surged to $2.24, marking a 2% increase in a single day. 

Over the past month, its value has skyrocketed by 117%, positioning it among the top market performers. Investors are showing strong interest, viewing Sui as a potential competitor to ADA.

Turn $1 to $1,000 with 3 Cardano Rivals by Year-End 2024Turn $1 to $1,000 with 3 Cardano Rivals by Year-End 2024
Source- DeFiLIama

The crypto market strong resurgence has made smaller altcoins, particularly those competing with ADA, an intriguing opportunity for potential massive returns by 2024’s close.

Frequently Asked Questions (FAQs)

Shiba Inu’s rapid price increase and strong community support position it as a potential altcoin to compete with Cardano, particularly with its growing use case and market capitalization.

TRON’s 90% price surge over the past year is attributed to token burns, rising interest in its ecosystem, and increased trading activity, making it a favorite among investors.

While there is potential for massive growth, the cryptocurrency market is volatile, and profits are not guaranteed. It’s crucial to research and understand the risks involved.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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