Is Ethereum’s Price Still Struggling?
The bearish sentiment surrounding Ethereum continues to gain momentum, with each day bringing additional challenges for the cryptocurrency. Experts, however, remain optimistic that if Ethereum can reclaim the $4,700 mark, it may pave the way for new record highs. In the meantime, investors are shifting their focus towards Shiba Inu and Digitap ($TAP), hoping for upward trends and enhanced returns. Shiba Inu, a prominent player in the ERC-20 meme coin category, is viewed favorably by investors for its cultural resonance and potential for growth. Conversely, Digitap is positioned at the crossroads of decentralized finance (DeFi) and traditional banking, providing users with the versatility of cryptocurrency alongside the comfort of established banking practices.
Ethereum Price Forecast: Can It Reclaim $4,700 and Reach New Heights?
On October 21, Ethereum momentarily surged past $4,100, but the bullish momentum quickly fizzled out. Geopolitical tensions, particularly trade disputes between the United States and China, have pressured the altcoin back below the $4,000 threshold. Nevertheless, bullish investors are not ready to concede defeat. Should the price move above $4,000 with substantial trading volume, it could signify the onset of a market reversal. A return to the $4,700 monthly high might even trigger a breakout beyond its previous all-time peak of $4,953. Wealthmanager, however, cautions that after experiencing significant resistance at $4,100, Ethereum may need to retest the $3,600 to $3,700 range if the $3,850 support does not hold firm. Positive developments, such as increased inflows to Ethereum ETFs, potential interest rate cuts, and a trade agreement between the U.S. and China, could serve as a catalyst for a price rebound.
Is Buying the Shiba Inu Coin Dip a Wise Strategy?
Despite the recent dip, many savvy investors are doubling down on Shiba Inu, viewing it as a potentially strategic decision. The meme-inspired cryptocurrency experienced a 6% decline over the week, settling at $0.000010, which is now considered a new support level. According to CoinMarketCap, the price of Shiba Inu has decreased by 50% since the start of the year and has dropped 25% over the past 90 days. While these figures may seem alarming, there is optimism that the price has hit a low point and could soon experience a turnaround. Analyst Shango believes that Shiba Inu has indeed reached its bottom and anticipates a price rise towards $0.00001130. If it can regain this higher support level, the price could continue to climb. Additionally, with daily trading volume increasing by 30% to reach $208 million, the prospects for Shiba Inu are looking more favorable.
Digitap: Defying Bearish Trends and Capturing Investor Interest
Despite the broader market downturn, Digitap has managed to attract attention from investors by showing upward movement. This emerging cryptocurrency, which blends DeFi and traditional finance, saw its price increase by 55%, climbing from $0.0125 to $0.0194, significantly outperforming the market. Experts regard Digitap as a promising investment due to its potential to disrupt the cross-border payments sector and its anticipated mainstream acceptance. Currently in its second presale phase, with over $900,000 raised, the coin is selling rapidly at $0.0194. A projected rally of 38% to $0.0268 in the upcoming ICO round positions it as an attractive short-term investment. Additionally, forecasts suggest a remarkable 30-fold increase in value post-launch, making it a compelling asset for investors. Beyond its growth potential, Digitap’s innovative payment solution—an all-encompassing banking system—eliminates the need for multiple accounts and wallets, further driving interest. Its low fees and no-KYC requirement enhance its appeal, particularly with its global money app now available on the App Store.
Surging Demand for SHIB and $TAP as Ethereum Struggles
In light of Ethereum’s recent price challenges, there has been a notable increase in demand for both Shiba Inu and Digitap. Shiba Inu, seen as having reached a low point, is believed to possess significant upside potential from its current price. Meanwhile, Digitap is being hailed as a top investment opportunity this year, leading the way in the PayFi sector by merging decentralized and traditional finance. As a low-cap coin with substantial growth potential, it has become a must-have for investors looking to capitalize on emerging trends.
