A steady rise in the use of the DeFi space might drive the price of ADA higher, especially in a bullish environment. While SHIB might rise considerably after the attention garnered by DOGE, APE might need a bullish market phase to reignite investor interest.
After a few weeks of sideways movements, the prices of crypto assets have recently achieved significant gains. The value of Bitcoin (BTC) rose above the USD 20,000 mark again, while some altcoins grew by double-digit percentages.
There might be a bullish period, but nobody knows which cryptocurrencies might reach significantly high increases. This article covers Cardano (ADA), Dogecoin (DOGE), and ApeCoin (APE), three cryptocurrencies that might still rise.
The Movements of Cryptocurrencies over the Last Few Days
The price of Bitcoin rose above the USD 20,000 mark for the first time in a few weeks. The increase in the value of the pioneering cryptocurrency caused altcoins to rise sharply.
Although BTC rose by around 8% over the last week, altcoins achieved much higher gains. While the price of Ether (ETH) increased by over 22% in that period, DOGE grew even twice.
The Market May Remain Bullish in the Medium Term
Many wonder whether the rise in the prices of cryptocurrencies may continue in the coming weeks. There have already been clear signs that a new bullish phase might start soon.
Although stock prices have dropped sharply, the crypto market has been stable. Despite the fear of a recession, the prices of cryptocurrencies did not fall further. The declining interest in government bonds might also signal a return to riskier assets like cryptocurrencies.
Therefore, the market may remain slightly bullish in the medium term over the next few weeks. That will be possible if the price of BTC can sustainably break out of the stabilization zone.
The Bullish Environment to Drive the Price of ADA Higher
The Vasil upgrade allowed Cardano to see a growth in the number of smart contracts and significant advances in scalability. A steady rise in the use of the DeFi space might also drive the ADA token again, especially in a bullish environment.
Meanwhile, ADA is trading at around USD 0.4156 and has accumulated a 1.3% gain over the last 24 hours. While its daily trading volume is above USD 856.75 million, its market capitalization is about USD 14.55 billion, according to CoinGecko.
The Price of SHIB May Rise even in a Bearish Market
The considerable increase in the price of Dogecoin has shown that meme coins can grow even in a bearish market. The SHIB token might also rise considerably in the coming weeks following the huge attention garnered by DOGE.
The value of SHIB also increased by over 30% over the last few days but lost it because of the massive DOGE rally. Since Shiba Inu might rebound in the coming weeks, it might become one of the cryptocurrencies with the highest price rises.
Investor Interest in APE Might Increase in Bullish Market
Over the last few weeks, the US Securities and Exchange Commission (SEC) has scrutinized ApeCoin, thus affecting its price negatively. Before that, the token was one of the most attractive projects on the market.
APE might need a bullish market phase to reignite the interest of investors in it. They should react to higher price increases with FOMO, causing considerable rises in the coming weeks amid a bullish market.
By Alexander Salazar
