Following the SEC’s approval of Spot-Bitcoin ETFs, altcoins have shown noticeable price movements, with some experiencing significant gains, while others have seen declines that may present investment opportunities, especially those priced below $0.10.
Shiba Inu (SHIB) has seen a burn of 9.35 billion tokens in an effort to increase its price and eliminate a zero, with the price reaching above $0.00001. The burn was part of an ecosystem fueled by Shibarium’s gas fees and marked the fifth SHIB burn attempt. At the time of writing, SHIB had a weekly gain of 2.50% and a monthly increase of 7.97%, despite a 0.66% drop in the last 24 hours, trading at $0.00001007.
Hedera (HBAR) has shown positive technical indicators, with a daily chart revealing a bullish candlestick and promising RSI levels, as well as a bullish MACD crossover. Crypto Troll’s analysis indicates that closing above the 200-day Moving Average will demonstrate market strength. Despite a short-term drop of 0.15%, Hedera saw a 13.28% gain over the past month, trading at $0.08316.
Elon Musk continues to influence Dogecoin (DOGE) prices, with recent peer-to-peer transaction approvals sparking positive reactions and price increases. The upcoming peer-to-peer payment system on platform X could potentially integrate Dogecoin, opening new possibilities for crypto payments. DOGE is trading with a 0.34% gain over the last 24 hours and a 0.45% increase over the past week, despite a 13.35% monthly decline, trading at $0.08398.
The market for altcoins remains dynamic, with various factors influencing price movements and investment opportunities, as investors navigate the complex landscape of cryptocurrency investments.