Last night, the US stock market experienced a slight drop, breaking through the recent consolidation range, and I don't really make predictions about where it will go next. Looking at the market from two perspectives: 1. First, market sentiment is low, especially affected by the drop in altcoins, which means that funds within the circle are not very active; at least the active tokens in CEX have been few lately, while on-chain activity is relatively high, indicating that some active funds may be shifting from CEX to on-chain. 2. The current position of the US stock market is also difficult to break through. I believe that BTC and the US stock market will be sluggish in the coming days, mainly to leave space for the market after Trump's inauguration in 20 days. If a double top is to be formed, it is still possible to speculate on a wave from the news of Trump's inauguration that started at the beginning of the month, depending on whether the main force is willing to do so. In terms of operations: one can gradually bottom fish after the New Year's Day low; the short-term correction should be due soon, and the focus for rebound tokens should still be on the recently strong tokens.
Prepare to buy 3 altcoins that may increase in value by 100 times in the future! 1.TON
Tonstakers is the leading liquid staking protocol on the TON blockchain, now integrated into Bybit's Web3 wallet. This allows users to stake Toncoin ($TON) and receive $tsTON as a reward. The value of $tsTON gradually increases approximately every 26 hours relative to $TON. This mechanism provides competitive rewards while supporting the development of the TON ecosystem.
Through this integration, Bybit aims to connect its users with DeFi opportunities and allow 130 million participants in the TON ecosystem to participate in staking. Currently, Toncoin's trading price is $5.58, reflecting an increase of 2.61% in the past week.
The trading price of this cryptocurrency is well above its 200-day simple moving average (SMA) of $2.03, indicating strong long-term bullish momentum. However, short-term indicators, such as the 14-day relative strength index (RSI) of 47.69, suggest a neutral trend, indicating that prices may consolidate sideways.
Forecasts indicate that Toncoin's trading price will be around $5.63 by the end of this year, suggesting a slight increase of 0.81%. This indicates that investors' short-term profit potential is limited, but the stability is also not optimistic. Additionally, the fear and greed index shows 'greed,' reflecting positive market sentiment.
2.SHIB
Shiba Inu (SHIB) is a community-supported decentralized cryptocurrency. SHIB is built on Ethereum and has become a noteworthy digital asset.
The new member of the Shiba Inu ecosystem is the TREAT token, designed to enhance governance and liquidity. This token allows community members to participate in decision-making through a voting system, giving them the power to determine the future of the project. TREAT also enhances liquidity, helping to maintain stability and support broader ecosystem development.
The Shiba Inu project is expanding into the metaverse to create a more interactive and unified platform for its users. TREAT contributes to this vision by introducing tools that enhance platform functionality. These efforts aim to increase engagement and build a cohesive community experience.
Additionally, the trading price of SHIB is $0.00002162, down 2.80%. The price trend sentiment appears bearish, with the fear and greed index rated at 65, indicating market greed. The relative strength index (RSI) is 37.25, suggesting a neutral position, pointing to potential sideways trading. Predictions estimate that SHIB could rise by 226.97% by January 2025.
3.ENS
The Ethereum Name Service (ENS) currently ranks 83rd in the cryptocurrency market. Its price is $32.63, having increased by 2.59% in the past 24 hours. The market cap of ENS is $1.14 billion, with a 24-hour trading volume of $235.44 million, a significant increase of 83.86%. The fully diluted valuation (FDV) is $3.25 billion, with a circulating supply of 35.18 million ENS and a total supply of 100 million.
In the past year, ENS has performed well, with its price increasing by 228%, outperforming 86% of the top 100 cryptocurrencies. During this period, it also surpassed Bitcoin and Ethereum. The trading price of the token is above its 200-day simple moving average (SMA), reflecting a strong long-term bullish trend. In the past 30 days, ENS recorded 15 green trading days, accounting for 50% of the month.
The fear and greed index for ENS is currently at 65 (greed), indicating positive market sentiment. These trends suggest that interest and optimism in ENS remain strong, but market conditions should be closely monitored.
