Bitcoin Dogs, Ribbon Finance, Sue
Cryptocurrencies had a rough performance this week as many investors started to take profits. Bitcoin price fell to $62,000 from last week's high of $73,500. Other coins like Ethereum, Render, Solana and Near Protocol also took a dive.
This collapse occurred as many holders of Greyscale Bitcoin Trust (GBTC) lost their positions due to the high payout. GBTC has an expense ratio of 1.50%, higher than iShares Bitcoin Trust's (IBTC) 0.25%. This article looks at some of the top cryptocurrencies to watch, such as Bitcoin Dogs (ODOG), Ribbon Finance (RBN), and Sui.
Ribbon finance price forecast
Ribbon Finance is a decentralized finance (DeFi) platform that enables users to access sustainable products through decentralized options and loans. The platform has a total value locked (TVL) of over $34 million. He also has millions in assets from his Ribbon Income and Ribbon Loans.
RBN has performed well over the past few weeks, rising from last year's low of $0.1462 to a high of $1.91 this month. This represents a bottom-up increase of 1,231 percent. Its market cap has reached over $746 million.
The ribbon remains consistently above the 50-day and 100-day exponential moving averages (EMA), which is a bearish signal. Most recently, a bullish engulfing candlestick pattern formed and then rose for three consecutive days.
My view is that the coin is trying to form a double-top pattern, which means it could continue to rise as investors continue to buy dips. If this happens, the next point will be at $1.70, which is about 23.47% of the current level. If the price falls below this week's low of $1.2050, this view will become invalid.
Bitcoin price prediction
Bitcoin Dogs is one of the best performing new cryptocurrencies this year. The developers recently ended their token sale, which raised more than $13 million in just one month. This makes it the best performing token sale in the industry.
Bitcoin Dogs is not yet publicized in Centralized and Decentralized Exchanges (DEX) but the developers promise that this will happen soon.
There are a few reasons to be optimistic about this. First, the launch of the token takes place when the crypto industry is in a bull market. The total market value of all cryptocurrencies has reached over $2.6 trillion.
Second, it is one of the most popular cryptocurrencies in the market. It already has thousands of containers, which is a good thing. Also, the developers are working to create the right tool for the project. This includes features like a 1,000 NFT collection and a gaming platform.
After all, most of the newly launched meme coins have done well. This includes brands such as Meme Book, Solama and Pepe. You can learn more about Bitcoin Dogs here.
Sui price prediction
Sui has evolved to become one of the best performing cryptocurrencies. The blockchain project has attracted hundreds of developers and thousands of users. As a result, the total value (TVL) in the ecosystem jumped to a high level of more than 700 million dollars.
The Sui price has been in a strong bullish trend this year. It has risen in the last three consecutive days and is now hovering near its highest point since February 15. The token has consistently remained above the 50-day and 100-day exponential moving averages.
Therefore, Sui token needs to clear the important resistance point at $1.9697, the high point in February is not worth the two-up pattern. If this happens, it opens the possibility to raise to $2.50.
