- The cryptocurrency market is currently grappling with maintaining its upward momentum.
- Despite this, the year has seen substantial gains for many digital assets.
- However, cryptocurrency analyst Ana Zirojevic has highlighted four altcoins with significant growth potential by the end of 2024.
Discover the top four altcoins poised for explosive growth potential in the coming year, offering valuable insights and investment opportunities.
Shiba Inu (SHIB) emerges as a potential top performer
Shiba Inu (SHIB) stands out as an attractive investment opportunity as we approach the end of 2024. One of its most substantial early investors profited over $120 million from SHIB trades, recently acquiring a significant amount of SHIB tokens, indicating robust confidence in the meme token’s future.
Significant Whale Activity
Recent transaction data shows that a notable investor injected over $18 million into Shiba Inu. Currently trading at $0.00002527, SHIB experienced a slight daily drop of 1.09% and declined by 2.40% over the past week. Nevertheless, it exhibited a strong monthly performance with an 11.23% increase.
XRP (XRP) remains under the spotlight amid legal developments
As followers of CoinOtag may know, Ripple’s ongoing legal battle with the U.S. SEC continues to influence market sentiments. The legal outcomes have generally been favorable for Ripple, contributing to a prevailing sense of optimism. A notable analyst has predicted that the prolonged consolidation phase might culminate in a significant breakout.
$XRP has consolidated for more than 700 days. Long consolidations usually break out big and squeeze up. Breakout of this range and retouch is a good entry for the long term. Let’s wait and see pic.twitter.com/Nzoy1dtmXm
— Blockchainedbb (@blockchainedbb) June 4, 2024
As of the latest data, XRP is trading at $0.52442, showing no change in daily price. The token saw a weekly gain of 0.91%, and a slight monthly increase of 0.66%.
Dogecoin (DOGE) captures attention with significant whale interest
Dogecoin (DOGE) is witnessing increased interest from large investors, commonly known as whales. Crypto analyst Ali Martinez pointed out that whale investors have added 200 million DOGE since May 30, indicating potential bullish movements.
#Dogecoin whales have bought an additional 200 million $DOGE since May 30! pic.twitter.com/gjeoGWMM4R
— Ali (@ali_charts) June 4, 2024
Dogecoin is currently trading at $0.16099, with a minor daily loss of 0.37%. The token recorded a weekly gain of 0.95% and an impressive monthly increase of 8.55%.
Cardano (ADA) readies for a transformative upgrade
Cardano (ADA) is anticipating its next critical upgrade, the Chang Hard Fork, scheduled for the end of June. This upgrade aims to enhance governance, functionality, and sentiment during a bull market. According to Cardano’s founder Charles Hoskinson, the protocol’s advantage lies in its Proof-of-Stake (PoS) Ouroboros system.
One of the benefits of Proof-of-Stake is that it allows for most of the magic to occur in stages other than deciding who builds the blocks, making the protocol much lighter and more energy-efficient.
— Charles Hoskinson
Cardano is currently trading at $0.46349, reflecting a daily growth of 1.09% and a weekly increase of 3.32%. On a monthly basis, the token has risen by 4.76%.
Conclusion
To sum up, these four altcoins—Shiba Inu, XRP, Dogecoin, and Cardano—show significant potential for growth towards the end of 2024. Investors and market participants should keep a close eye on these assets as they may offer lucrative opportunities. The evolving market conditions and upcoming developments could further influence their trajectories, making it an exciting space to watch.
