Cryptocurrency analysts analyzed the current market dynamics and selected 4 altcoins. According to them, these altcoins will see big gains by December 2022. Explosive coins include Algorand (ALGO), Elrond (EGLD), Polygon (MATIC), and Shiba Inu (SHIB). Now let’s examine the price levels that analysts expect.
“SHIB and these altcoins will explode by the end of the year”
Polygon (MATIC)
The decentralized Ethereum scaling platform called Polygon (MATIC) enables developers to build user-friendly, highly scalable dApps with minimal transaction costs without sacrificing security. MATIC price is currently trading at $0.7279. Like most cryptocurrencies in 2021, it’s extremely low from its all-time high. In 2021, Polygon hit an all-time high of $2.8768.
This layer-2 protocol addresses some existing issues with Ethereum, especially scaling. Polygon has been making a name for itself in the Blockchain field for a while. Also, its connection with Ethereum shows that we will hear more of his name as long as Ethereum is strong. Any project that is related to or growing on Ethereum will get the Merge upgrade. As Merge is successful, these projects will grow. Therefore, it is quite possible that the price of MATIC will increase in the future.
Algorand (ALGO)
Algorand is a blockchain-based, independent and decentralized network with a number of uses. It basically works as a Blockchain crypto protocol using the Proof-of-Stake consensus mechanism. ALGO price is 13.18% over the past 24 hours and is currently trading at $0.338. Meanwhile, the rise showed itself on the weekly chart. ALGO price has gained 5.62% in the last week.
Behind the rise, however, is an update that the network recently received. cryptocoin.com As we reported, the markets were introduced to Algorand’s State Proofs technology with the upgrade. They are a simple, quantum secure interoperability standard that any PoS chain can use without sacrificing cost, reliability, and security.
Elrond (EGLD)
Elrond, also known as e-gold, is a fast and secure Blockchain with high scalability. It works as a platform for decentralized applications, business use cases, and the new internet economy. This altcoin is up 1.71% in the last 24 hours and is currently trading at $48.10. In the previous hour and the previous week, there was a decrease of 0.40% and 6.53%, respectively.
Banks willing to buy e-gold or EGLD. It is extremely difficult for a bank, large company or business to buy a cryptocurrency. That’s why corporate demand for Elrond is important. Because of this corporate trust, EGLD has a bright future just like SHIB, ALGO and MATIC. It has the potential to make big gains in the future, if not in the near future.
Shiba Inu (SHIB)
The SHIB price has continued its decline recently due to the depreciation of Bitcoin and Ethereum. However, with the latest announcement, Shiba Inu owners are quite relieved. Shytoshi Kusuma, one of the developers of Shiba Inu, announced new updates for SHIB. According to the developer, this upcoming update will have a positive impact on SHIB owners and Shibarium. However, whale movements also support the meme token.
There is momentum that is rarely seen among crypto whales. According to WhaleStats, the 5,000 largest Ethereum whales currently hold $143.06 million worth of SHIB. Also, the Shiba Inu is currently their largest holding. On the other hand, Shiba Inu burning continues. SHIB burning platform Shibburn has experienced an increase in the rate at which tokens are burned. They destroyed 550 million SHIB in the last 7 days. Due to all these factors, the meme token is likely to double its price by the end of the year.
