The cryptocurrency market is showing a strong upward trend, especially Bitcoin, which has risen nearly 27% this month, setting the largest monthly increase since January. In addition, the performance of various alternative cryptocurrencies such as Dog Coin (DOGE), Chaigou (SHIB), and Pepe (PEPE) also reflects the upward trend of market breadth indicators, which evaluate the increase and decrease of digital assets
The cryptocurrency market is showing a strong upward trend, especially Bitcoin, which has risen nearly 27% this month, setting the largest monthly increase since January. In addition, the performance of various alternative cryptocurrencies such as Dog Coin (DOGE), Chaigou (SHIB), and Pepe (PEPE) also reflects the upward trend of market breadth indicators, which evaluate the increase and decrease of digital assets. Currently, only 4.7% of tokens have shown a strong downward trend, reaching the lowest level since January, indicating that more tokens are following the rise of Bitcoin.
The cryptocurrency market experienced a recovery in October, with many projects experiencing green gains. Bitcoin prices have reached their highest level this year, exceeding $34000. Analysts generally predict that there may be a bull market in early 2024 as Bitcoin is about to be halved and spot Bitcoin ETFs may be approved.
Now, let's take a look at three cryptocurrencies priced below $1, which are expected to usher in a new bull market in early 2024.
Chaigou (SHIB):
ShibaInu (SHIB) is one of the most popular cryptocurrencies among them. In the previous bull market, the price of SHIB rose from around $0.000007 to a historic high of $0.00008616 within about a month, an increase of over 1130%. In the next bull market, popular meme tokens are expected to exhibit a similar pattern. Therefore, we may see SHIB grow by over 1500% during the next bull market.
DOGE:
DOGE is another popular cryptocurrency that has turned many investors into millionaires. Prior to the start of the previous bull market, the price of DOGE reached a historic high of $0.73. Many analysts expect DOGE to rise to the $1 level in the next bull market. Although there has been a lot of discussion about whether DOE will be included in the upcoming payment tool, the official has not yet confirmed the specific role of DOE in the payment tool. However, DOGE is one of the most popular cryptocurrencies with great potential to reach historic highs.
XRP:
The XRP hit a historic high long before the previous bull market, but the SEC's lawsuit against the company may be one of the reasons why XRP has not risen much in the recent bull market. However, the recent ruling that XRP is not a security may set a new high for XRP in the next bull market.
PEPE: Unexpected Competitor
The price increase of PEPE is surprising, with a 60% increase. This development is worth noting as most holders are currently in a loss making state. Pepe's price range ranges from $0.000000724 to $0.000001463, with support levels of $0.00000301 and resistance levels of $0.000001779 and $0.000002518. Pepe's sudden rise and on chain indicators indicate growth opportunities, but there is still uncertainty about whether this rebound can continue and close attention is needed.
Disclaimer: The content of this article is sourced from the internet. The copyright of the text, images, and other materials belongs to the original author. The platform reprints the materials for the purpose of conveying more information. The content of the article is for reference and learning only, and should not be used for commercial purposes. If it infringes on your legitimate rights and interests, please contact us promptly and we will handle it as soon as possible! We respect copyright and are committed to protecting it. Thank you for sharing.(Email:[email protected])
