After a brief recovery, the market is cooling down again, but this time a lot is happening quietly. Solana is quietly gaining ground on Ethereum. Aptos just thwarted a potential collapse and Shiba Inu is trying hard to beat Dogecoin.
As the market increments towards higher levels, it's a critical time to watch closely and make informed decisions that will determine the fate of your portfolio.
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The crypto market has resumed its bullish journey. Bitcoin's strong recovery has once again pushed its market capitalization above $2.4 trillion. This time, Bitcoin is stronger than ever, with its dominance rising to 54.36%. This growing dominance seems to have dispelled any doubts surrounding it.
Selective altcoins like Solana and Toncoin are also experiencing strong growth. Additionally, meme coins like Dogecoin and Shiba Inu have a strong future due to user growth, new markets, and new use cases.
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Sentiment has decisively moved into positive territory, and this time we are even more confident. After a short consolidation phase, the cryptocurrency market started to shine again.
The Crypto Fear and Greed Index is up 12% since last week, reaching a score of 74. This rally clearly signals a return to bullish sentiment in the market.
After a mostly bearish week, the cryptocurrency market cap has once again surpassed $2.4 trillion. Bitcoin and Ethereum still dominate the market share, accounting for 54% and 15.5% respectively.
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Will Dogecoin reach $3?
There are signs that the cryptocurrency rally will continue, and Dogecoin is poised to become a significant player. Memecoin has recently broken out of a long-term descending triangle pattern, reflecting several technical signals seen during the 2021 rally. This breakout suggests the possibility of reaching $3 in the coming days. Currently, Dogecoin is trading around $0.15. Adding fuel to the fire, on-chain metrics such as new users have shown solid growth over the past six months, indicating continued interest in the project.
Bitcoin reflects trends after 2016 halving
Multiple analysts are observing Bitcoin price trends after the 2024 halving event. This trend seems similar to the price movement seen in the six months following the 2016 halving, when Bitcoin rose 48%. Rekt Capital suggests that this period could be a re-accumulation zone for Bitcoin, with the price potentially pushing above $100,000 in a bullish scenario.
Will Solana cross $200 this week?
With the recent surge in Solana's on-chain metrics and Solana's entry into new markets, it is believed that it could soon surpass $200. This cryptocurrency poses serious challenges to Ethereum on several metrics. In just his first three months of 2024, Solana managed to exceed his past performance several times.
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