invezz.com
Cryptocurrencies have been relatively mixed this week in a low-volume environment as the Christmas holiday continued. Bitcoin has held steady above $42,000 while Solana and its ecosystem tokens took a breather. In all, the total market cap of all cryptocurrencies jumped to over $1.7 trillion.
The next few weeks will be important as the January Effect starts. This is a situation where financial assets like stocks and cryptocurrencies rally at the start of the year. There is also a likelihood that the Securities and Exchange Commission (SEC) will approve a spot Bitcoin ETF.
This article will look at some of the top moving cryptocurrencies like Shiba Memu, Bitcoin SV, and BNB.
Shiba Memu forecast
Shiba Memu, one of the top-performing pre-launched cryptocurrencies will be in the spotlight as the pre-sale period ends. It has been a successful period as the developers have raised over $4.9 million in the past few months. With the presale ending, there is a likelihood that they will hit their $5 million target.
Shiba Memu is a cryptocurrency that aims to become the next big thing in the meme coin industry. It seeks to do that by being at the intersection of fast-growing meme coin and artificial intelligence (AI) industries.
While most big coins like Bitcoin and Ethereum rose in 2023, they were beaten by most meme coins. Today, meme tokens like Pepe, Bonk, and Grok have a combined market cap of over $1 billion. Along the way, these tokens, most of which don’t have any utility, have created many millionaires.
The Artificial Intelligence (AI) industry, on the other hand, has changed the world, with platforms like ChatGPT, Grok, and Anthropic making millions of dollars per month. OpenAI, the creator of ChatGPT, is valued at over $100 billion.
Shiba Memu will use AI features like Natural Language Processing (NLP), sentiment analysis, and image recognition to create exciting marketing materials to boost its popularity among crypto fans.
It is difficult to have a Shiba Memu price prediction now that the token has not been launched yet. However, its launch will coincide with numerous tailwinds like falling inflation, interest rate cuts, Bitcoin ETF approval, and Bitcoin halving. This means that it could join the ongoing crypto rally. You can buy the Shiba Memu token here.
Bitcoin SV price forecast
The Bitcoin SV (BSV) price went vertical on Wednesday even as BTC remained under pressure. It surged to a multi-month high of $69.62, which was 280% above its lowest point in 2022. As it rose, the coin jumped above the key support levels at $55.36 and $58.70, the highest swings on November 9th and October 21st.
Bitcoin SV moved above the 50-day and 100-day moving averages, which is a bullish sign. Therefore, I suspect that the coin will form either a bullish flag or pennant pattern in the coming days. It has already formed a pole of this pattern.
If this happens, the coin will then have a bullish breakout as buyers target the key resistance point at $80.
BNB price forecast
The BNB price has also made a bullish breakout in the past few days. It has risen in the past two straight days and moved to its highest point since May 29th. The coin has flipped the key resistance level at $271.90 into a support level.
BNB price has formed a golden cross pattern, which is a bullish sign. This pattern forms when the 50-day and 200-day Exponential Moving Averages (EMA) crossover. The Relative Strength Index (RSI) moved to the extreme overbought point at 80.
Therefore, the coin will likely retreat and possibly retest the support at $271. BNB will then bounce back and retest the resistance at $350, the highest point in April.
The post Crypto price predictions: Shiba Memu, Bitcoin SV (BSV), BNB appeared first on Invezz