While New Year’s Eve is just around the corner, excitement is also growing in the cryptocurrency industry, as witnessed in the sector’s representative asset, Bitcoin (BTC), racing above the $43,000 price threshold and most other cryptocurrencies following its cue.
With this in mind, Finbold has analyzed the crypto sphere to arrive at several digital currencies that might be a great buy this New Year’s if investors are inclined to spend their money not just on champagne and fireworks but also on crypto assets with great potential.
#1 Shiba Inu (SHIB)
As it happens, Shiba Inu (SHIB) has recently made a breakout, becoming another major ‘dog coin’ to join the wider crypto rally, according to the analysis by Jake Wujastyk, accompanied by a significant spike in trading volume in recent days, as Finbold reported on December 6.
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Meanwhile, Shiba Inu was at press time changing hands at the price of $0.00000958, recording a decline of 3.24% on the day but still hanging onto a significant gain of 16.90% on its weekly chart and a 14.54% advance across the past month, as per the latest data.
#2 XRP (XRP)
Although feelings were low about the price action of XRP after the Bitcoin takeoff, the token that has been at the center of the courtroom standoff between Ripple and the United Securities and Exchange Commission (SEC) has managed to make an upward move that might send it to $1.13.
In the meantime, the XRP token is presently trading at the price of $0.6332, which indicates a loss of 0.32% on the day, an increase of 5.49% across the week, and an 8.54% drop over the month, as demonstrated by the most recent charts retrieved on December 7.
#3 Dogecoin (DOGE)
Another meme coin to make its move in this cycle is Dogecoin (DOGE), which not only celebrated its tenth birthday on December 6 but also hit a price target at $0.10 previously set by Wujastyk, after which the stock and crypto trading analyst established another target at $0.19.
That said, Dogecoin has now retraced to $0.949 from the original breakthrough, having declined 7.68% in the last 24 hours. Nonetheless, it has demonstrated the strength that has led it to increase its value by 16.92% in the previous seven days and by as much as 26.66% across the past month.
To conclude, the above cryptocurrencies’ indicators have suggested that they are on the road toward more significant gains despite a temporary setback. Hence, this proves the need to carry out one’s own research and risk tolerance analysis before investing any significant portion of funds in them.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.