Bitcoin (BTC) price has reclaimed the $70,000 level on Monday after a series of intense increases over a few days. BTC’s price surged by 8% within 24 hours after surpassing the liquidity around $60,500 on some exchanges, a significant increase achieved in less than a week. Following the recent spikes, experts suggest that two altcoins could potentially increase by 100 times by 2024!
Solana (SOL)
Solana currently trades as the fifth-largest cryptocurrency by market value at $85.47 billion and holds significant importance in the crypto world. The cryptocurrency has seen an increase in trading activity recently, with its 24-hour trading volume surging by 90% to $4.05 billion. Despite experiencing a slight drop of over 4% amidst volatility last week, the altcoin shows promising signs of a comeback.
As SOL’s price approaches $200, it is in the phase of consolidating its recent gains. Investors are closely watching for a breakthrough at key resistance levels in its current position. If the upward trend continues, we could soon see SOL’s price nearing the $210 mark. With sustained positive momentum, SOL has the potential to rise to $260, setting an all-time high. On the downside, any reversal in the trend could bring the price down to the $80 support level, and further pressure from sellers could push SOL down to $150.
Dogecoin (DOGE)
Dogecoin, the largest meme token, could play a significant role in shaping the future of this category of crypto. It has a market value of $26.5 billion and ranks ninth among other tokens. Despite a 3% increase in DOGE‘s price on Monday, there was a 6% decrease in 24-hour trading volume, indicating waning interest among traders.
Other meme tokens like Shiba Inu (SHIB) and dogwifhat (WIF) are also on the move, with respective increases of 6% and 18%. Another Solana-based meme token, Bonk, was trading at $0.000025, up by 9% at the time of writing. The interest in Dogecoin may lead people to SHIB, WIF, BONK, and other lesser-known tokens during bull runs to maximize profits.
