Cryptocurrencies Price Prediction: Sushiswap, Shiba Inu & Axie Infinity – European Wrap 21 April

Sushiswap price under siege of bearish coup with 20% implosion at risk

Sushiswap (SUSHI) price is seeing traders run for the hills on Friday as Bitcoin is sliding further away sub-$30,000 as the recovery rally is losing steam. To make matters worse, this altcoin season looks to be one of the worst seasons in terms of performance. With several crucial elements being broken by forceful bears, at least another 20% pain is in the cards.

Sushiswap price has been tanking sharply since this week started with already a 15% loss from Wednesday. The domino effect could be one of the main reasons why these sharp and heavy headwinds are suddenly emerging for altcoins. With a very mixed earnings season in US equities, indices have been selling off, triggering some US Dollar strength and, in its turn, pushing gold and Bitcoin lower.

Shiba Inu suffers damage in the PEPE-Dogecoin battle; market cap slips below Litecoin

Shiba Inu, at one point, was considered the Dogecoin killer. Despite its relatively strong fundamentals, the cryptocurrency is being sidelined at the moment. This lack of interest is all thanks to the emergence of PEPE, which once again proves that meme coins can always be replaced at any time.

Shiba Inu and Dogecoin were all that meme coin enthusiasts would talk about, with a few mentions of other shitcoins every now and then. However, the market is filled with discussions of just PEPE and Dogecoin presently.

Axie Infinity price wavers as investors wait out the $175 million token unlock

Axie Infinity price (AXS) has wobbled ahead of the upcoming token unlock event scheduled for April 23, causing the token to drop by a significant margin while it gives traders a chance to buy the dip. Standing among the top players in the GameFi and non-fungible token (NFT) spaces, Axie Infinity allows platform users to play games and be rewarded for their achievements. Notably, player rewards come in the form of the Smooth Love Potion (SLP) token and sometimes even AXS tokens.

The Axie Infinity token unlock event scheduled for April 23 is among the top news in the crypto scene this week and next week, with data showing that the network’s developers will unleash more than 18 million AXS tokens. Based on current rates, this translates to at least $175 million. This represents about 7% of its total market capitalization, based on CoinMarketCap data.