The cryptocurrency market has entered another bull market, according to multiple analysts. As a result, analysts have predicted that Shiba Inu could cancel out more zeros while Dogecoin could see a short-term 40% rally. Also, Bitcoin Spark has been projected to benefit massively from the approval of a spot ETF.
Analysts Have Predicted That Shiba Inu Will Erase Another Zero
Shiba Inu erased several zeros in its famous 2021 bull run. The Shiba Inu price reached an all-time high of $0.00008845 in October 2021. However, in 2023, SHIB has struggled since dropping below the $0.0000100 in August. However, analysts have predicted a comeback for Shiba Inu.
SHIB enthusiasts have backed their beloved project to “erase another zero” soon. While the bullish crypto market could make this happen, there are major developments within the community that could force a price increase. Shytoshi Kusama has teased “significant changes” coming to Shiba Inu.
One of which is the blockchain-based identity for projects on the network. Analysts have predicted that a break above $0.00001000 could see the Shiba Inu price reach $0.00001250. Long-term Shiba Inu price predictions hint at a $0.00002500 price tag for SHIB.
Dogecoin Predicted To Rally 40% Soon
The Dogecoin price has remained flat throughout 2023. Year-to-date, the Dogecoin price has dropped 1%. In comparison, Bitcoin has gained more than 105%. However, Dogecoin could begin to enjoy a spell of uptrend, according to a team of FXStreet analysts.
They predicted that the price of Dogecoin could increase by 40% in the coming weeks. Based on the Dogecoin prediction, DOGE could reach a high of $0.0952 in the coming weeks. DOGE has confirmed this pattern by decisively breaking above the $0.06800 resistance.
This has confirmed a break above the descending channel Dogecoin has been stuck under throughout the year. Dogecoin price prediction from other analysts suggested that the meme coin could reach a new all-time high of $1 in the next bull market.
Bitcoin Spark Could Benefit Massively From the Spot ETF Approval
Bitcoin inspired the recent crypto market rally after rumors of a spot ETF approval broke. While BTC has been predicted to benefit massively from the approval, Bitcoin Spark (BTCS) has been projected to end with even more gains.
Analysts have projected Bitcoin Spark could top the gainers’ chart because it is an upgrade of Bitcoin. As a Bitcoin hard fork, Bitcoin Spark spots the same security and privacy infrastructure as the original network. However, there are major, interesting upgrades that make BTCS stand out.
One of the most-talked-about upgrades is the improved Proof-of-Process consensus model. This model has proven to be more energy-efficient than Bitcoin’s Proof-of-Work. In addition, this makes it easy for network users with smart devices to mine BTCS tokens.
Also, the network is faster and offers cheaper transaction fees than Bitcoin. With Bitcoin Spark offering a cheaper entry to Bitcoin, analysts have predicted a major rally for BTCS. The project recently entered phase IX of its ICO, where BTCS trades at $3.5 per token.
Find out more about the Bitcoin Spark ICO below:
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