Top 3 Cryptocurrencies to Watch This Week
The cryptocurrency market experienced a slight dip over the weekend, with the global market cap dropping to $2.48 trillion. This correction could be attributed to high inflation rates in the US and escalating tensions between Iran and Israel. However, there is hope for a market rebound, especially with Bitcoin’s halving approaching.
Bitcoin (BTC) remains the top cryptocurrency to watch this week, despite a 6.2% decrease in its price to just over $65k. With the upcoming halving cycle, many investors are optimistic that BTC will bounce back and potentially reach its all-time high of $73,737. Additionally, if inflation in the US stabilizes and global conflicts ease, Bitcoin’s price could see further appreciation.
Another cryptocurrency to keep an eye on is Toncoin (TON), which has been on a steady rally, gaining 16.4% in daily charts and nearly 31% in weekly charts. TON has even surpassed Dogecoin (DOGE) to become the 9th largest cryptocurrency by market cap. Positive ecosystem news and the upcoming BTC halving could fuel TON’s continued surge in the coming weeks.
Lastly, dogwifhat (WIF) has also seen a significant rally in the last 24 hours, with a 14.3% increase in daily charts and a 20.2% rise over the previous month. Despite a slight dip in weekly and 14-day charts, CoinCodex predicts that WIF will continue to rally and reach $5.48 by May 1, 2024.
Overall, the cryptocurrency market remains volatile but full of potential for growth and recovery. Investors are advised to keep a close watch on these top three cryptocurrencies as they navigate through the current market conditions.
