While the cryptocurrency market is still trying to recover from the impact of the FTX crisis, a leading analyst shared 3 altcoins to watch this week.
LTC and ADA: Keep Moving!
Huge losses have damaged confidence in crypto currencies. For this reason, investors are staying away from many projects that pose a risk. The first altcoin on the list of senior analyst Paul Leo is Litecoin (LTC). Litecoin managed to surpass Shiba Inu (SHIB) in terms of market capitalization with its amazing rally in the recent period. LTC has been moving in a horizontal direction for a long time. As the Halving event approaches, LTC continues to be the focus of the market. While LTC recorded the highest price of a year against Bitcoin (BTC), more than $ 1 billion of capital flowed into the project in one day. In particular, since LTC is targeting the 100 dollar level, eyes are on the next halving event, which will take place in August 2023. According to experts, after an intensive accumulation process, LTC can reach new heights. Litecoin is trading at $77 and is again aiming for new highs after reaching its monthly high of $82. Rekt Capital, one of the leading analysts, stated that LTC should stay above $ 67 for further recovery. In addition, LTC technical analysis also points to the rise.
The second altcoin on the analyst’s list is Cardano (ADA). In Cardano, expectations are mainly connected with the continuous development process of the network. Among many projects, Lace, the basic technology of the network, became the focus of the wallet. At the same time, more than 1,000 projects have been built on the network and 106 projects have already been launched on Cardano. The number of ISLAND wallets exceeded 3.7 million. Over 100,000 new addresses were created in November alone. At the same time, Cardano has recorded more than 55 million transactions, while the smart contract feature has more than 3,700 plutus scripts. In this direction, Cardano has also made the Plutus DApp resource page available for developers.
DOGE: Ready for a Surprise at Any Moment!
The last altcoin on the analyst’s list is Dogecoin (DOGE). Meme coin has recently been on the uptrend line in the face of positive news. In particular, when the DOGE community took action to provide the asset with greater use and functionality, the rally became inevitable. As previously reported, Ethereum (ETH) co-founder Vitalik Buterin and Tesla CEO Elon Musk are reportedly planning to get together and work on new updates to Dogecoin. Dec. Musk has been a staunch supporter of the DOGE, with his tweets sparking huge rallies.
At the same time, since Musk bought Twitter, speculation has arisen about the possible integration of DOGE with the social media platform. DOGE is trading at $0.10 as of now, up about 7% in the last 24 hours. DOGE remains an investor favorite with a market capitalization of $12.9 billion. New tidings from Muk may give the DOGE price momentum again. At the same time, the Dogecoin community remains optimistic while targeting the 1 dollar level. According to last week’s Finbold report, DOGE investors are among the least stressed crypto holders under the crisis and Decadent conditions..
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