Kategorie: Altcoin News

• Analyst Nicholas Merten says altcoins are ready to rally, with Aave, Uniswap and Yearn.Finance his top picks.

DataDash host and popular crypto analyst Nicholas Merten says he is extremely bullish on cryptocurrency going into 2022, noting specifically that he’s betting on the altcoin market as it hits the so-called “supercycle.”

The analyst says in a YouTube session that historically, Bitcoin has been the leading indicator for altcoins. He points out that altcoins have rallied to mirror the flagship cryptocurrency’s macro price movement, and likewise declined whenever sell-off pressure decimates the Bitcoin market.

Merten says while Bitcoin remains the benchmark crypto, there’s a change in market dynamics that are beginning to show altcoins trend more and more independently of BTC price action.

He notes that Bitcoin remains in largely uncertain territory, even as the market registers more and more interest in various altcoins. With some coins outpacing Bitcoin during the latest correction, the strategist says it’s not just the major coins like Ethereum and Solana that need a second look ahead of the next rally.

Decentralised finance (DeFi) and Metaverse coins are two fast-paced sectors today, and here is where the analyst picks the four altcoins with the potential to skyrocket.

Aave (AAVE), Uniswap (UNI), Yearn.Finance (YFI) and Radix (XRD)

Among altcoins, the analyst is keen on are DeFi’s Aave, Uniswap, and Yearn.Finance. Also on the table is layer-1 protocol Radix.

Merten sees Aave price registering a major breakout to add to its stellar performance against Bitcoin. Currently, the AAVE/BTC pair is capped within a range supported at lows of 0.005727 BTC.

“If we can clear through this range, that’s going to set the foundation for AAVE to probably have another seismic rally,” he said.

As for Uniswap (UNI), the analyst predicts another breakout against BTC, with

Bulls are likely to break above a descending trendline for another 25% or more run against Bitcoin. He says the automated market maker’s recent launch on Polygon adds to the strong fundamental outlook of UNI.

Yearn.Finance is also on the analyst’s radar, a fair-launch DeFi protocol whose governance token YFI has surged over 62% in less than two weeks.

There’s also Radix (XRD), an “early stage” layer-1 protocol that breaks out whenever other projects move higher. Although there remains the possibility of a major correction in such coins, the analyst says XRD is picking momentum as bulls prepare for the next major wave.

The post Analyst says the 2022 altcoin “Supercycle” is here, highlights 4 top picks appeared first on Coin Journal.

Shiba Inu is a relatively new coin created in August 2020. It is an Ethereum based altcoin whose mascot is a Japanese breed hunting dog called Shiba Inu. The cryptocurrency industry considers this coin an alternative to Dogecoin but fundamentally different in structure and purpose. Shiba Inu is one of the biggest coins in terms of market capitalisation, with a value of more than $21 billion. It is currently ranked at number 13 on Coinmarketcap.

Shiba Inu has shown tremendous growth for the last few months. This year, Shiba Inu has grown by more than 47 million percent enabling a few lucky people to make massive profits. However, its price, like any other cryptocurrency, has been fluctuating due to varied reasons. If you are looking to invest in this coin, here are a few reasons that you can consider.

All cryptocurrencies are volatile. It means that their prices could swing on either side at any time. For that reason, you must take caution. Never invest any money that you would not be willing to lose. Diversifying your investments in various coins instead of just putting everything in one project is the best way of doing it.

1. Listed in multiple exchanges

There is a strong correlation between the value of a digital coin and access. If a coin is easily accessible, then its value tends to grow. More investors can buy and speculate it is spiking its demand. Shiba Inu has been on various exchanges but has recently got listed in a few others, including OKEx and Binance. Its price surged significantly when it was listed on these two exchanges in May 2021. In October, Shiba Inu got a listing in Coinbase Global, the biggest exchange in the United States of America (USA). After this listing, the coin surged by 40% in just two days and later by 20% in November when it got listed on Kraken. In 2022, this coin could be listed in more exchanges like Robinhood, which will likely spur its value. If you get a few tokens now and this happens, you are likely to make some money in 2022.

2. Shiba Inu growing use cases

Shiba Inu has been derided as a joke coin, just like its predecessor Dogecoin. This coin’s value has largely been dependent on its meme status, but as more people get interested in the coin, the coin’s utility seems to be growing. A few serious companies have already shown interest in having this token as payment. These companies include AMC Entertainment Holdings, the largest movie-theatre chain in the world that also stocks memes, and Newegg Commerce, a computer and electronics e-commerce shop. These companies plan to begin accepting Shib tokens as payments for their products. Another potential company looking forward to accepting these tokens as payment is BitPay. These could be a few companies, but the Shiba Inu community pushes this coin to get more acceptance. If more companies and establishments adopt this cryptocurrency as a means of payment, its value will grow in the next few months.

3. Nominal price is still low

Shiba Inu, like most other altcoins (these are other digital coins other than Bitcoin), still has a low nominal price. Compared to Bitcoin currently trading at about $51,000, Shiba Inu’s price is too low. When writing this article, this coin was trading at $0.00003839. Unless you have massive capital, you can only invest in a fraction of bitcoin. However, you can buy more than 1000 Shiba Inu tokens for just about $100. $100 will get you 2.6 million tokens. If the coin grew to one dollar, you would have a cool $2.6 million. This growth is possible considering the factors surrounding this coin and the growth progression it has been showing in the last few months.

4. Shiba Inu growing demand

Shiba Inu began as a meme coin. Most people consider it a joke. However, this perception has led to more people joining the Shiba Inu community to share in the joke and as a result of FOMO or Fear of Missing Out. As more people join the community, they buy more coins and surge demand. Considering that the total supply of this coin is limited, the surging demand has seen the value of this coin oscillate depending on how investors are buying and selling. It has seen more growth than dips and shows the same growth progression. Investing in this coin now is not a guarantee that you will make profits, but there is a high likelihood of doing so come 2022. You can have a couple of thousands of tokens in your portfolio as the token price is still very low.

5. Shiba Inu whales ownership

Very few investors own a significant portion of Shiba Inu. These large owners are known as whales. Research in the cryptocurrency world indicates that about 70% of shib tokens are under the custody of fewer than ten investors. These investors believe in this coin and are looking forward to driving its price up. A majority of them have been adding more coins into their portfolios, an action that has spurred shib token’s demand and pushed its price up. Two whales added more than eight billion tokens in their portfolios in the last few weeks. These purchases and support will see the price of this token rise in 2022, making it a worthwhile investment.

The post 5 Reasons why you should buy Shiba Inu today for 2022 gains appeared first on Coin Journal.

The Santa rally that we have seen in crypto over the last few days has lifted most coins. Kadena (KDA) has not been left behind. The chain, which hopes to compete with Ethereum, has soared. But can the coin maintain this momentum, and where will it go next? Well, here are some highlights first.

• Kadena (KDA) is on bullish momentum at the moment and has posted 7-day gains of nearly 55%.

• At the time of writing, the coin was trading at $16.07, up 16% in intraday trading and with a market cap of around $2.6 billion.

• Kadena (KDA) is also seeing surging 24-hour trading volume. At press time, trade volumes over 24 hours were up 83%.

Data Source: Tradingview.com 

Kadena (KDA) – Price action and analysis

The lift that we have seen this week as far as Kadena (KDA) goes is not surprising. First, the broader crypto market has posted gains during the Santa rally. Secondly, alternative chains to Ethereum have seen a major uptick in recent days not just in the price action but also in trading volume. 

Just like Kadena (KDA), coins like Solana (SOL), Polkadot (DOT), and Avalanche (AVAX) are all seeing massive 7-day gains. It’s not evidently clear if Kadena (KDA) can surge beyond $25 and reclaim its November highs. But in the short term, we could realistically see this uptrend pushing KDA above $20.

Should you buy Kadena (KDA)

Well, if you are thinking of long-term value, then Kadena (KDA) is a good buy. In fact, the coin is trading way below its all-time highs for the year, and as such, it still offers a decent dip to get in. 

Also, the protocol has added several new features on its platforms, including the ability to yield farm on Ethereum based decentralised exchanges. With the increased utility, the value of Kadena (KDA) is going to increase over time.

The post Santa rally brings decent gains for Kadena (KDA) – can it hold the momentum? appeared first on Coin Journal.

Shiba Inu (SHIB) looks set for a significant bullish breakout in the coming days with estimates showing the meme coin could surge above 40%. The coin has been one of the most incredible performers this year. Although it’s still way lower compared to all-time highs in 2021, a whole lot more could still come from SHIB. Here is what we know thus far:

• Shiba Inu has shown some commendable bullish alignment in all technical indictors and could surge over 40% in a few days.

• The meme coin will however need to overcome overhead resistance at around $0.00003902.

• But as with many meme coins, any negative sentiment on the crypto market could weigh heavily on any possible gains.

Data Source: Tradingview.com 

Shiba Inu (SHIB) – price action and analysis

Despite reporting massive growth this year, SHIB has had several corrections in the last few months. After hitting monthly highs of $0.00005435 in November, the coin has seen a sharp decline, losing nearly 50% of its value since then. The meme coin is however looking good but is facing stiff resistance at $0.00003902. 

At the time of writing, SHIB was trading slightly below that at $0.00003808, up 2% in intraday trading. Analysts feel that if the coin surges above the overhead resistance, then we are likely to see a sharp bullish uptrend in the near term. Also, we are watching to see if SHIB can recapture its 50-day moving average of $0.00004099.

Should you buy Shiba Inu (SHIB)

Meme coins are speculative assets and can be prone to wild volatility. So, they are not supposed to be held for a long time. In case you want to ride the short-term gains on SHIB before selling it, then this is the perfect time to buy. But for long-term value investing, SHIB is probably not for you.

The post Shiba Inu (SHIB) looks poised for a 40% bullish breakout – price analysis and prediction appeared first on Coin Journal.

Terra (LUNA) has reached all-time highs in intraday trading today. The coin went above the $100 mark for the first time. It has however retreated slightly below that but is still nearly 3% up for the day. The rally was largely triggered by increasing positive buzz around layer 1 blockchains. Other similar networks like Solana (SOL) and Avalanche (AVAX) also rallied. Here is what we know so far:

• At the time of writing, Terra (LUNA) was trading at around $99.30, but it had surged above $100 in intraday trading.

• The bullish price action was also seen in other similar Layer-1 chains, including Solana and Avalanche (AVAX).

• The rally is likely to hold as investors continue to bet big on Layer-1 blockchains.

Data Source: Tradingview.com

Terra (LUNA) – price action and analysis

It seems like a very long term ago when Terra (LUNA) was trading slightly above its $54 support. This was even after the coin had rallied nearly 25%. But that was merely a week ago, and it shows you just how fast things can change in crypto. 

Over the past few days, LUNA has been gaining upward momentum. But not even the most optimistic analysts saw the coin surging towards its all-time highs before the end of the year. It is indeed a Christmas surprise, and we expect this bullish upturn to hold for longer.

Should you buy Terra (LUNA)

Terra (LUNA) has always been a good investment based on its underlying fundamentals. The chain has seen explosive growth this year too. However, it is the growing interest in Layer-1 blockchains that makes LUNA such a promising project. 

In fact, the recent surge to all-time highs was inspired by the positive buzz around Layer-1 solutions. Although the chain faces competition from major players in this space like Solana (SOL), it still offers the promise of excellent returns in the long run. You should therefore consider buying it.

The post Positive buzz on Layer-1 networks pushes Terra (LUNA) to all-time highs – can it hold the momentum? appeared first on Coin Journal.