- Shiba Inu holders spike, crossing 1,112,485 before the end of December 2021.
- Analysts are bullish on MATIC and Terra, continue accumulating the altcoins ahead of the bull run.
- The daily transaction count of Solana, Polkadot and Terra has climbed steadily in 2021, implying an increase in traders interested in the altcoins.
- Analysts have predicted a rally in Shiba Inu, MATIC, Terra and Solana in the first quarter of 2022.
Top altcoins and memecoins Shiba Inu, MATIC, Terra and Solana continue to attract investment inflow from traders as they offered high returns in 2021. Analysts have a bullish outlook on these altcoins in 2022.
Altcoins continue to rally despite drop in Bitcoin price
Briefly in November 2021, the crypto market capitalization surpassed $3 trillion. The altcoin price rally contributed to this milestone. Altcoins played a key role, driving the spike in market capitalization through price rallies and increasing on-chain activity.
The number of Shiba Inu holders crossed 1,112,485, implying a spike in investor interest and capital inflow in the memecoin. Shiba Inu’s roadmap for 2022 includes the formation of a Decentralized Autonomous Organization (DAO). This has fueled a bullish narrative for Shiba Inu price.
Further, the memecoin is one of the altcoins that offered the highest returns in 2021. Analysts have predicted that Shiba Inu is close to breaking resistance at $0.00003422. @army_shiba, a crypto analyst and trader has set targets for Shiba Inu price at $0.00003557 and $0.00003992.
DAILY $SHIB CHART
— $SHIB KNIGHT (@army_shiba) January 3, 2022
It is accumulating in red zone & moving sideways! It is close to break 0.00003422 resistance!
Other targets are 3557 and 3992!
Support is 3288!
My Channel: https://t.co/MOAqqxE2IH pic.twitter.com/gv4Rdke2Dd
Though Terra had a slow start in 2022, proponents are bullish on LUNA price as the community plans a launch of UST (Terra’s logarithmic stablecoin) on the Solana network. Terra has recovered from the drop in price on December 31, 2021 and posted 11.4% gains.
@BigCheds, a pseudonymous cryptocurrency analyst believes that Terra has further upside potential against USDT.
@AltcoinSherpa, a crypto analyst and trader believes that Solana is an important altcoin. The analyst accumulated Solana for the second time at the $20-$25 level and continues to hold the altcoin.
The analyst is bullish on Solana’s upward trend and bullish potential.
$SOL was the next big trade for me. I bought a lot back in 2020 and dumped it all around $2 with the investor unlock in early 2021. Lo and behold, my amount would have been worth many millions had I held today. Thankfully I was able to rebuy around $20-$25 and continued to hold. pic.twitter.com/HMDjuENIoG
— Altcoin Sherpa (@AltcoinSherpa) December 31, 2021
FXStreet analysts believe that Shiba Inu price could meet heavy resistance after 30% breakout.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Vitalik Buterin slams controversial gambling project ZKasino following scam allegations
Ethereum founder Vitalik Buterin took to Warpcaster, a new type of social network, to condemn ZKasino, a decentralized gambling platform based on Layer 2 Ethereum protocol zkSync.
Starknet jumps 2% after notice inviting specific groups to claim STRK airdrop
Starknet Foundation addressed the groups within the STRK community that were unable to receive the token’s airdrop during the first round. The Layer 2 chain organized an airdrop event in February.
XRP price capped at $0.55 despite retail holdings nearing all-time highs
Ripple price (XRP) failed to break resistance at $0.55 early Wednesday as traders continue to digest Ripple’s recent response to the Securities and Exchange Commission’s (SEC) allegations of illegally selling XRP as a security.
Binance founder Changpeng Zhao could face three-year jail time
US prosecutors are requesting Binance founder and former CEO Changpeng Zhao (CZ) to serve a three-year jail time, according to a Reuters report published Wednesday.
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?