Shiba Inu, MATIC, Terra and Solana top the list of cryptocurrencies offering high returns
- 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.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
