Altcoins
3 Altcoins Likely To Reach New Highs As Bitcoin Targets $80,000
Crypto Price Prediction: Over the past two weeks, Bitcoin, the largest cryptocurrency by market capitalization, has continually surpassed its own record high, hitting a new high at $73,571 on Wednesday. According to Santiment data, this uptrend has coincided with a notable increase in the number of smaller Bitcoin wallets, particularly those holding less than 0.1 BTC, which saw growth of 277,000 wallets. In contrast, the number of larger Bitcoin wallets, especially those holding more than 1,000 BTC, decreased by 105.
The rebound seen in the Bitcoin price has had a positive impact on the broader altcoin market, with many top coins seeing a surge that has pushed them to test previous highs. Accompanying the rise of BTC, THORChain and Dogwifhat coins became top gainers today, gaining significant traction among momentum traders.
Read also: Crypto Price Today, March 13: Bitcoin at $72,000, Ethereum at 4,000, Pepe Coin and Toncoin Surge
1) Bitcoin (BTC)
Bitcoin (BTC)| Commercial view
Bitcoin (BTC) is the first and most well-known cryptocurrency that operates on distributed ledger technology that records all transactions across a network of computers in a secure, transparent and immutable manner. The digital asset has recently seen a massive influx of investments from traditional assets via the 10 recently launched BTC ETFs.
Recent data shared by @WuBlockchain reveals a record day for Bitcoin spot ETFs on March 12, with a net inflow of $1.05 billion, a significant 56% jump from the previous peak in February.
Since the last update, Bitcoin Price is trading at $73,188, a change of 2.36% over the last 24 hours. The market cap currently stands at $1.44 trillion, with a 24-hour trading volume of $64. billion.
As Bitcoin is currently in price discovery mode, traditional pivot levels indicate notable resistance levels at $77,700 and $91,500. From a technical perspective, BTC recently presented a key support level at $69,275, followed by $63,200.
Read also: Bitcoin Price: Will Bitcoin Hit $80,000 Before Halving
2)THORChain (RUNE)
THOR Chain (RUNE)| Commercial view
Thorchain is a decentralized liquidity protocol that allows users to trade cryptocurrencies across different networks without losing custody of their assets. Unlike other decentralized exchanges that operate within a single blockchain ecosystem, Thorchain facilitates cross-chain exchanges, making it a crucial project in the field of interoperability.
RUNE, the native cryptocurrency of the Throchain network, has seen a massive inflow recently, as evidenced by the eight green candles on the daily chart. The positive rise took the coin’s value from $4.92 to $11.3, registering a growth of 130%.
Over the past 24 hours, the trading volume on the RUNE token reached $1.28 billion, while the market capitalization stood at $3.82 billion.
If the recovery dynamic persists, the THORChain Price may pursue a potential target of $13.3 followed by $17.2. Conversely, the daily chart shows key support levels at $9.9 and $8.2.
Read also: Crypto Price Prediction: Top Layer 2 Tokens to Watch Before Ethereum Upgrade Dencun
3) Dog Wife Hat (WIF)
dog hat, symbolized by WIF, is a cryptocurrency that has attracted attention in the meme coin category, especially among enthusiasts of the Solana blockchain. It draws its unique appeal from meme culture, specifically inspired by images of dogs wearing hats, tapping into the playful and whimsical side of the crypto community.
At press time, Dogwifhat is trading at $2.22 with a 24-hour trading volume of $410 million. Dogwifhat has a market capitalization of $2,212,689,560, placing it 60th among cryptocurrencies by market capitalization.
Amid the recent Memecoin Mania in the crypto market, Dogwifhat demonstrated notable performance as the price rose from $0.287 to $2.23, registering 678%. As assets rise in price discovery mode, buyers could face supply pressure at psychological levels of $2.5 and $3, while immediate supports stand at $1.8 and $1. 31 dollars.
Read also: Binance waives fees for DOGE, SHIB, PEPE, BONK, WIF, FLOKI Meme coins
Take away
The leading digital asset is experiencing steady growth accompanied by increasing demand from the traditional market and accumulation of whales. Thus, the overall market movement highlights growing investor confidence, strengthening the altcoin in similar momentum. Such trends allow traders to focus on breakout strategies that are often rapid in nature versus accumulating pullbacks.
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