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Sohrab Khawas
Sohrab Khawas
Author
Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.
- Aug 14, 2023 04:50 UTC
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Top Altcoins to Watch This Week: Chainlink, Dogecoin, and Shiba Inu
Bitcoin holds above $29k with new whale investors.
Chainlink and Dogecoin show potential for price gains; SHIB targets $0.000012.
The crypto market stayed relatively stable over the weekend, with some changes among the top digital assets. Recent data suggests that a number of new Bitcoin whales – those who hold at least 1,000 Bitcoin each – have joined the network in the past two weeks.
This influx of new investors helped Bitcoin maintain its value above $29,000, even during uncertain times in the market. These developments align with the growing interest in Bitcoin and Ethereum ETFs (exchange-traded funds), largely driven by big financial players like BlackRock.
An analyst based in the Netherlands, Michael van de Poppe, has shared insights into the market. He believes that if the Bitcoin price manages to overcome the resistance level at approximately $29,800, its value could continue to rise due to increased demand.
Top Altcoins This Week
Poppe has also talked about some alternative cryptocurrencies, ie., altcoins that could perform well in the near future.
Chainlink (LINK)
Poppe thinks that if the price of Chainlink can stay above $7.3, it has the potential to climb beyond $8.4. Chainlink is a type of altcoin.
Dogecoin (DOGE)
This altcoin, supported by Elon Musk and known for its meme status, might see its price go up to 10 cents if it can maintain its value above $0.075. However, if the Dogecoin price falls to around $0.07, the optimistic outlook might change.
Shiba Inu (SHIB) :
Another altcoin on Poppe’s radar is SHIB. It has seen significant gains recently due to excitement about the upcoming Shibarium launch and other developments. If this positive trend continues, Poppe predicts the price could reach around $0.000012.
Poppe also mentioned that the overall cryptocurrency market could grow to a total value of around $1.75 trillion before the next Bitcoin halving event. This event involves a reduction in the rewards miners receive for validating transactions on the Bitcoin network.
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