Altcoins That Could Hit $1 In 2024: Shiba Inu (SHIB), Sei (SEI), and Jupiter (JUP) are capturing the attention of the crypto community with their impressive growth potential and unique market propositions. As these digital assets navigate the volatile crypto landscape, they exhibit a bullish outlook, garnering interest from seasoned investors and analysts alike.
Shiba Inu, the popular meme-inspired digital currency, has recently displayed a volatility pattern in its market price. The token experienced a swift rise, peaking at $0.00000967 on January 30, only to encounter a downturn, descending to $0.00000878 shortly after. In recent developments, the value of SHIB has further receded to $0.000008969, reflecting a decrease of 0.86% within a 24-hour timeframe. Despite these fluctuations, industry analysts remain optimistic about SHIB’s near-term trajectory.
Shiba Inu: Navigating Market Volatility with a Bullish Horizon
Amid these price changes, the trading activity surrounding Shiba Inu has notably intensified. The daily trading volume has escalated by 14%, reaching $71.29 million. Presently, the cryptocurrency is navigating a phase of reaccumulation, a period marked by strategic accumulation by investors, indicating a potential upswing.
Shiba Inu Price chart: Tradingview
Shiba Inu’s market valuation stands robust at about $5.29 billion, securing its position as the 17th largest cryptocurrency, as per the recent data from CoinMarketCap.The Moving Average Convergence Divergence (MACD) indicates a bullish trend, as its line has moved above the signal line.
Adding to the dynamics, SHIB has observed a remarkable surge in transactions involving substantial holders, commonly known as whales. The volume of these large-scale transactions soared by 99%, amounting to an impressive 973.25 billion SHIB or an equivalent of $8.77 million.
This resurgence in whale activity underscores a renewed interest in cryptocurrency following a decline. Shiba Inu’s Layer-2 blockchain solution, Shibarium, has also been at the forefront of an intensified burn rate for SHIB tokens. This strategic reduction in supply and the notable fluctuations in transaction volumes lay a foundation that might propel the Meme coin to reach the target of $1 by the end of 2024.
Is Sei Poised for a Breakthrough Beyond the $0.70 Resistance Level Soon?
Sei is rapidly gaining recognition for its layer 1 blockchain, which is uniquely tailored for trading activities. As of the latest reports, the price of Sei stands at $0.6069, experiencing a slight 24-hour dip of 1.86%. However, it has been maintaining a steady position around the $0.60 mark, indicating a potential for an upward trajectory.
Sei price chart: Tradingview
The past year has been particularly remarkable for SEI, with its value skyrocketing by over 7506%, showcasing a strong bullish pattern and positioning it as a top investment choice in the crypto sphere. Launched in August 2023, the SEI coin reached its highest valuation in late December of the same year, a testament to its rapidly growing popularity and investor confidence.
This digital asset, underpinned by layer 1 blockchain technology, has been a topic of keen interest due to its technological innovations and strategic positioning in the blockchain and trading landscape. Sei continues to attract attention, cementing its status as a noteworthy cryptocurrency.
Looking forward, if the market dynamics shift favorably and propel the Sei price above the $0.6137 threshold, The altcoin could significantly rebound in its value. Such a movement would enable Sei to challenge its upper resistance level of $0.70. Maintaining stability at this level could set the stage for Sei to attempt to reach the ambitious $1 mark by the end of 2024.
Jupiter Price Gaining Momentum in the DEX Space
The Jupiter cryptocurrency has recently exhibited an upward trend, signaling a robust influx of buying activity. The current valuation of Jupiter stands at $0.564, marking an impressive increase of over 3% in just 24 hours. The trading volume has surged to $278 million, illustrating a heightened investor interest. Currently ranked 83rd on CoinMarketCap, Jupiter boasts a substantial market capitalization of $760 million. Notably, the digital asset has consistently stayed above the crucial $0.55 support level despite the interplay of bullish and bearish forces.
Jupiter price chart: Tradingview
The cryptocurrency community has been abuzz with speculation surrounding JUP, especially after the momentum it gained on Monday. This surge in interest is largely attributed to the recent progress within the Jupiter community and the increasing popularity of the Jupiter Exchange.
The heightened activity on the decentralized exchange (DEX) has put JUP in the spotlight, suggesting a potential for significant price appreciation. If the current trend of bullish sentiment persists, market analysts anticipate that Jupiter might soon challenge the $1 threshold, marking a pivotal moment in its market journey.
Related Articles
- Jupiter Token (JUP) Price Fluxes Amid LFG Launchpool Optimism, What’s Next?
- Celestia Price Climbs 8%, Who’s Leading TIA’s Profit Parade?
- Giant Whale Dumps 33K Ethereum To Binance, ETH Crash Ahead?
Read the full article here