The cryptocurrency market experienced a vibrant start to the year, with Bitcoin nearing $49,000 and many altcoins reaching new yearly highs. However, following a Matrixport report and ETF approval, a wave of profit-taking hit the market, causing a prolonged downturn for altcoins.
Shiba Inu’s Struggle to Regain Momentum
The Shibarium network has not lived up to expectations, with a significant drop in new and active users. Despite having over 1300 smart contracts, no projects have captivated the community’s interest. Shiba Coin’s anticipated monthly burn of millions of dollars through network support seems to be an unfulfilled promise.
Shiba Coin’s price has recovered slightly, reaching $0.0000091, and aims to push past $0.00000944. If successful, the coin could potentially revisit its previous highs, with targets set at $0.00001049 and $0.00001142.
BONK Coin’s Recovery and Potential
BONK Coin, once hailed as the savior of the Solana ecosystem, eventually delivered on its expected performance. Holders who resisted selling their airdrops saw substantial profits at its peak. However, a subsequent sell-off led to a prolonged devaluation of BONK Coin’s price.
After finding a bottom, BONK Coin looks to surpass $0.0000129114, with goals of reaching $0.0000157978 and $0.0000181316, potentially setting the stage for a return to its all-time high.
PEPE Coin’s Diminished Volume
PEPE Coin has managed a rebound from its low, but faces competition from newer coins that are siphoning off its volume. The proliferation of meme coins has diluted the market, making significant growth more challenging. PEPE Coin’s immediate goal is to cross $0.00000120, or it may fall back to its support levels.