Cryptocurrencies Price Prediction: Dogecoin, Bitcoin & Crypto – European Wrap 29 May

The future of Dogecoin: Will real-world adoption support prices?

Prices of meme coins, including Dogecoin (DOGE), have been on a continued downward trend since their boom in 2021. Their future remains a key question among investors, who are increasingly scrutinizing which crypto projects have real-world utility and thus have the highest potential ahead.

Bitcoin Weekly Forecast: Billions in ETF outflows don’t bode well

Bitcoin (BTC) remains under pressure, trading below $74,000 on Friday, and is set to post its third consecutive week of losses. The institutional sell-off continues, with spot BTC Exchange-Traded funds (ETFs) recording billions in outflows. In addition, sticky inflation and macroeconomic headwinds suppress the Crypto King’s upside potential.

Crypto: Optimism just to halt the decline

The crypto market capitalisation rose by 1% over the past 24 hours, rebounding from the local lows reached the previous day, thanks to a shift towards riskier assets. However, the cryptocurrency market remains 10% below its local peak in early May and 43% below its global peak in October last year. By comparison, over the same period, the Nasdaq 100 gained 4% and 21%, respectively, challenging the notion of a direct correlation between these indices. This by no means indicates widespread negativity, as over the past 24 hours Stellar has gained 23%, IOTA 13%, and Algorand 10%, while the worst-performing coins among those actively traded were Bitcoin Cash (-6.3%), Tron (-3.3%) and Filecoin (-2%).