6 altcoins to outperform Bitcoin as new phase of market cycle begins says Crypto Strategist, Shiba Inu trading volume surged 2x higher than Dogecoin although having 3x lower market cap.
A week has passed and a lot of happenings have occurred over the cryptoverse. There’s a lot to unpack with exciting and unforeseen events and we are here to cover it for you. We know that news regarding The Great Migration is hot right now, but this time around, our focus is to keep you updated with the latest news and trends over last week’s happenings in the cryptoverse!
Ready for it? Here we go! Here are the week’s top headlines!
PRViously on Crypto, Shiba Inu trading volume surged, Cardano and 5 more altcoins to outperform Bitcoin.
Shiba Inu trading volume surged
A new memecoin has emerged strong in the leaderboards and this time, it’s more aggressive in its 24-hour trading volume.
Shiba Inu has seen over $4.47 billion traded in volume over the last 24 hours, surpassing Dogecoin, it’s token competitor, by twice as much despite only having $11.5 billion market cap in comparison to DOGE’s whopping $30.7 billion.
The memecoin, dubbed as the “Dogecoin killer”, has seen a remarkable rise in value, and is now sitting on the 12th spot in terms of market cap as of writing. For the last seven days, the decentralized meme token has seen a 224.55% increase and is now trading at $0.0000292. In comparison to Dogecoin, it closed the week at a 9.16% increase, trading at $0.2341.
There’s more!
It has been observed that Shiba Inu is continuing its positive retracement from last week’s low, and according to Santiment, even though SHIB millionaires have been selling their holdings, Shiba Inu’s trading volume surged continuously alongside its price.
In Santiment’s data, it has been shown that although Shiba Inu’s addresses worth one (1) to ten (10) million SHIB sold over 31 billion tokens on October 7, 2021, causing the price to dip by 40%, SHIB rebounded in value as new investors bought such dip and build positions around the 24-hour moving average.
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6 altcoins to outperform Bitcoin
According to Capo, pseudonymous crypto analyst known in the industry, he expects Cardano and 5 other altcoins to shine brighter than BTC in the coming months.
According to the crypto strategist and trader, Cardano is to be expected to have big moves. ADA is currently trading at $2.28 USD and is expected to continuously rise by the end of the year.
Next, COTI is also expected to have big moves. It is an enterprise-grade platform which allows organizations to digitize any form of currency using Trustchain, the networked datastructure protocol, and build their own payment solutions.
Further, Capo has high hopes with FET, the decentralized machine-learning network Fetch.ai, and SAND, an Ethereum-based virtual world known as The Sandbox, as Capo believes that these are ready to outrun bitcoin by the end of the year.
Lasty, Capo is also eyeing VRA, a native token of an eSports and blockchain-based video entertainment protocol Verasity, and NOIA, the native token of the Syntropy ecosystem, an open-source protocol aimed at improving the internet via encryption and optimized performance.
Capo said that these 6 tokens: ADA, COTI, FET, SAND, FET, VRA, and NOIA, are set to outperform Bitcoin by the end of the year. He also noted that a bull wave appearing to be starting in the Altcoin Perpetual Futures Index is the clear sign of what’s coming ahead.
“ALTPERP bullish trend is intact too. It’s also forming a potential cup and handle, whose minimum extension is very high. Maybe the w3 is starting here because many altcoins are starting their w3.“
@CryptoCapo_
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