Top Analyst Confirms Altcoin Season, What’s Next for XRP, SOL, HBAR, and SHIB?

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As a seasoned researcher with over a decade of experience in the ever-evolving world of cryptocurrencies, I find myself constantly amazed by the market’s resilience and its ability to surprise us. The recent surge in altcoins, particularly XRP, SOL, HBAR, and SHIB, is a testament to the power of retail interest and momentum-driven trends.

Today, the total value of the cryptocurrency market reached a previously unseen peak (a new all-time high or ATH), exceeding the significant milestone of $3.5 trillion. Various platforms, such as Blockchain Center and CoinMarketCap, suggest that we are currently in an altcoin season, a notion backed by renowned analyst Markus Thielen, CEO of 10x Research. While Bitcoin‘s price has been stable recently, digital currencies like HBAR, XLM, XRP, SUI, ALGO, and OM have spearheaded the upward trend over the past three months. The dominance of Bitcoin in the market stands at 53.80% as of today.

Altcoin Season Driving Rally in XRP, SOL, HBAR, SHIB

On December 4, according to 10x Research, the cryptocurrency market is experiencing a mix of fear of missing out (FOMO) and panic at the same time. Top analyst Markus Thielen asserts that the altcoin season has been factored in, and this trend is likely to persist and even expand, offering increased trading possibilities.

In addition to Bitcoin’s retreat from around $99,700, various altcoins have surged during the altcoin season rally. Notably, HBAR has seen a more than 600% increase, while XLM and XRP have experienced over 500% and 400% price growth respectively in the last 90 days.

As a researcher, I’ve observed an intriguing development: The Altcoin Season Index has soared to 86 today, indicating a strong positive sentiment surrounding altcoins, hinting at potential further gains. According to Markus Thielen, this bullish trend for crypto tokens might persist until the inauguration of Donald Trump in January.

South Korea Driving the Altcoin Season

10x Research reports a significant increase in trading volumes for retail crypto markets in South Korea. Over the past 24 hours, this surge reached nearly $34 billion, reaching an all-time high. This development coincides with South Korean President Yoon Suk Yeol declaring emergency martial law and potentially facing impeachment due to his recent decision.

XRP topped the trading volume, with Dogecoin (DOGE) coming in second, Stellar (XLM) following close behind, Ethereum Name Service (ENS), Hedera (HBAR), and Shiba Inu (SHIB) making up the rest. These rapidly rising cryptocurrencies are primarily fueled by individual investors, who are capitalizing on and amplifying trend-driven momentum.

What’s Ahead For XRP, SOL, HBAR, and SHIB?

According to Markus Thielen, the upward trend in Ripple XRP’s market rotation continues unabated and is one of the most remarkable events in the cryptocurrency market this year.

Additionally, the market capitalization of XRP has now exceeded $150 billion, placing it as the third-largest cryptocurrency. This remarkable rise can be attributed to a significant breakout from a prolonged triangular pattern and was fueled by the U.S. election.

With the arrival of altcoin season, it’s expected that Ethereum and Solana will once more lead the crypto market. Nevertheless, the present patterns suggest a shift towards XRP and other promising cryptocurrencies that might experience a surge.

As a researcher studying the cryptocurrency market, I’m confidently predicting that if Ethereum manages to break through the resistance at $3800, it could potentially reach and surpass the $4000 level gradually. On the other hand, according to crypto analysts, Solana is expected to see a significant rally, potentially reaching prices around $400 and even as high as $600.

HBAR price trades at $0.329, down 5% in the last 24 hours. The trading volume has decreased by 33% amid profit booking by traders. However, traders are bullish on Hedera amid multiple partnerships and developments amid altcoin season. HBAR price is anticipated to hit $0.57 next year.

Shiba Inu price jumped 4% in last 24 hours, with the price currently trading at $0.00003039. The trading volumes on both spot and derivatives market have surged in the last 24 hours.

As a researcher, I’m excited to share some recent highlights from the Shiba Inu community. Notably, our lead developer, Shytoshi Kusama, has highlighted an upcoming meme coin with a dog theme, named SHIFU. Additionally, he subtly hinted at the imminent launch of the TREAT token around Christmas. These advancements could potentially contribute to a surge in SHIB prices, making it an interesting area for further exploration and potential investment.

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2024-12-04 13:08