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In this period Bitcoin is definitely dominating the crypto markets, but today we will analyze the trend of SOL (Solana), SHIB (Shiba Inu) and Orca.
Summary
Price analysis of the crypto Solana (SOL), Shiba Inu (SHIB) and Orca (ORCA)
SOL is the native cryptocurrency of the Solana ecosystem.
Not only is it one of the top five cryptocurrencies in the world by market capitalization, but it is close to surpassing BNB to become the fourth, behind only Bitcoin, Ethereum, and USDT.
In the last 24 hours, its price has made an excellent recovery, with a +11% which is by far the best performance today among the top 40 criptovalute.
Despite this, however, it is still at -16% compared to seven days ago, that is in line with BNB and better than Ethereum (worse, however, than Bitcoin).
During the latest recent crash, the price fell below $120, a level that had been holding since January, but it took very little time to bounce back and rise above that level.
The fact is that there are some doubts about the stability of Solana’s price in the medium/short term, as it might have been inflated for some time due to bot activity.
It is worth noting that at the end of 2022 the bottom of the bear-market of the price of Solana was below $10, and that still in June of last year the price was only $15.
The last bullrun of SOL started in October, with a first phase ending in December just above $120, and a second one starting at the end of January and ending in March above $200.
Since then, a long period of lateralization has effectively begun, which still seems to be in effect, with wide price swings between $120 and about $180, and with brief forays just above or just below these figures.
So this last bullrun lasted about five months, and it has been followed so far by another five months of lateralization.
The recent crash has only brought the price of Solna below $120, but afterwards it returned above $150. The situation seems to have normalized.
The trend of the price of Shiba Inu
SHIB is a token on Ethereum.
It is the second largest memecoin in the world by market capitalization, behind only Dogecoin, and in the last 24 hours it has recovered less than 3% after the recent crash. In fact, it is still at -15% compared to seven days ago, and only at +33% since the beginning of the year.
Being a memecoin, it is a highly speculative asset; in fact, its price trend in 2024 is very different from that of Solana, Ethereum, or Bitcoin.
In February of this year, it was still close to the bottom of the last bear-market, reached in June of last year below 6.8 millionths of a dollar, but in March it recorded a real boom.
In less than two weeks, in fact, it went from 9.5 to 35 millionths of a dollar, with an incredible +270%, but only to then drop to 21 millionths in the following thirty days.
The decline then continued, with a return to 14 millionths in June.
However, this seems to be an important level, because after rising to almost 20 millionths in July, the price collapsed to 11 millionths on Monday, only to then bounce back and return to 14.
The trend, however, remains descending, for now, just as it has been for the last four and a half months.
SHIB is a highly speculative asset, whose price often rises a lot, and very quickly, but only to then return to where it started, or almost. The times of the 2021 boom are now distant.
The trend of the price of Orca
Orca is a token on Solana.
It has a low market capitalization, below 130 million dollars, which places it beyond the 270th position.
He made his debut in the crypto markets in 2021, in the midst of a bull run, when in just three months he went from $3 to over $22.
That real bubble then burst, and during the bear-market of 2022 its price plummeted even below $0.4.
From that carnage, however, it managed to recover partially.
In fact, although in October of last year it was still below $0.8, it recorded another crazy rise that ended in December just below $9, with a +1,000% in just three months.
Even in that case, however, it was a speculative bubble, which burst already at the end of December.
During the course of 2024, its price practically did nothing but fall until mid-July when it reached $1.4, but at that point, the decline seems to have stopped.
It should be noted that, although the current price of around $2.4 is significantly lower than at the beginning of the year, it is actually 200% higher than in October, before the last bullrun started.
The fact that it has not returned to the levels of October, despite the burst of the speculative bubble of 2023, suggests that in the medium/long term the trend could actually be upward, net of the bubbles.
Of course, its current price is still lower than the initial one, but in reality, it is not advisable to take as a reference the price it had during the 2021 bubble.
Furthermore, in 2021 the minimum price was around 2.6$, which is in line with the current one, and this suggests that perhaps Orca has not yet exhausted all its bull.