Connect with us

Hi, what are you looking for?

Economy

Bitcoin, Chainlink and Dogecoin Leading Crypto Upside Potential: Santiment

Volatility has continued to rock the digital currency ecosystem with Bitcoin (BTC), Chainlink (LINK) and Dogecoin (DOGE) in the spotlight. Current market data shows the combined crypto market cap dropping by 2.05% to $2.28 trillion. According to data insight from crypto analytics platform Santiment, the broader crypto market correction aligns with the equities market.

The Bitcoin, Chainlink and Dogecoin Advantage

Santiment actually profiled 10 digital currencies it claimed have “crowd optimism.” The analytics platform used this term to denote the coins that more community members are talking about. Top on the list, sieved by those worth at least $500 million in valuation is Chainlink.

The oracle service provider has made headlines on different ocassions lately. By introducing privacy features into its Cross Chain Interoperability Protocol (CCIP), Chainlink is setting a new standard for interoperability.

Crypto markets have corrected alongside equities as traders increase speculation that the bull rally has come to an end. With crowd optimism transitioning to doubt, these are the $500M+ market cap projects showing the best upside based on buying into the crowd FUD:

1⃣… pic.twitter.com/OvnvlWdSus

— Santiment (@santimentfeed) October 23, 2024

Besides Chainlink, Santiment named Bitcoin, Goat Network, Dogecoin, XRP, PEPE, Filecoin, Shiba Inu, EigenLayer and Beam. Of these, Bitcoin has received significant chatter lately. From the potential Indian government ban of BTC, to the Michael Saylor self-custody controversy, the coin remains on the frontlines of social discussion this week.

Dogecoin has also drawn the attention of retail investors thus far this week. From DOGE whale accumulations to ETF discussions, the chances of the coin turbocharging a new bull rally is high.

Despite their currently lower prices, Santiment noted that the speculative nature of the market could market the coins soar in the short term.

Where To Next? Top Market Forecasts

It is worth noting that Bitcoin remains the standard of measure for cryptocurrencies in the industry. Judging by events like spot Bitcoin ETF trend, many analysts are predicting a potential breach of the All-Time High (ATH) before the end of this year.

In particular, Bernstein analysts predicted a $220,000 top for the coin. Another ambitious BTC price forecast tipped a $230,000 surge if the coin repeats Gold’s bullish pattern. While the market offers no guarantees, the social sentiment and expectations might drive the profiled coins upward soon.

Read More: 3 Chainlink LINK Alternatives to Buy Before December 2024

The post Bitcoin, Chainlink and Dogecoin Leading Crypto Upside Potential: Santiment appeared first on CoinGape.

You May Also Like

Investing

Fisker (NYSE: FSR) stock price has been one of the best-performing electric vehicle (EV) stocks this week even as Tesla slumped. The shares jumped...

Investing

Newmont (NYSE: NEM) reported mixed financial results even as the price of gold approached its all-time high. In all, the company’s earnings per share...

Investing

The Fox Corporation (NASDAQ: FOX) stock price has been under pressure as investors come to terms with the abrupt firing of Tucker Carlson. The...

Investing

NatWest (LON: NWG) share price rose sharply, helped by the strong results from Barclays. The stock jumped to a high of 274.8p, which was...




Disclaimer: Oldamericanbroker.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the-company.


Copyright © 2024 Oldamericanbroker.com