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SHIB, Cardano Among 3 Tokens Eyeing Price Shifts

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Since the beginning of 2023, the cryptocurrency market has had a strong bullish run. The market’s total cap surged over 37% as many altcoins like Cardano (ADA), Shiba Inu, and HEX maintained an upward trajectory.

Recently, a credible on-chain analytics platform, Santiment reported that in January 2023, ADA recorded its biggest daily amount of $100k+ transactions since November 12, 2022. Followed by other coins with similar transaction histories like Shiba Inu and Hex. Therefore, investors should watch these three cryptocurrencies closely in the coming days.

Cardano (ADA) Price Movement & On-chain Data Signal Bull Run

Cardano (ADA), a smart contract platform that has gained by over 65% in the past five weeks, moving from $0.24 on January 1, to its current market price of $0.3913 based on data from CoinMarketCap.com. Its market cap also witnessed an upsurge going from $8.63 billion to $13.5 billion.

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Source – CoinMarketCap

According to Santiment, there has been an accumulation of $405.85 million worth of ADA and this massive investment within a short time frame has contributed significantly to Cardano’s price gain in 2023.

Shiba Inu (SHIB) Price Up More Than 45% In January

Shiba Inu (SHIB), the second-largest meme coin in the world, has gained more than 45% in January alone. Currently, the Shiba Inu price is hovering around $0.00001456 with a surge of 21.65% over the last seven days. If SHIB continues the bull run, the currency shall pass its immediate resistance at $0.0000155 soon.

Source – CoinMarketCap

According to Whale Alert, a crypto transaction tracker, a huge amount of Shiba Inu transactions are taking place and whenever such huge transactions happen, the digital asset moves toward a bullish moment. Read more crypto news here

HEX Price Up 90% in Last 30 Days

HEX, a cryptocurrency that utilizes its Proof of Wait (PoWa) protocol has been attracting bullish sentiments since the beginning of this year. The crypto is up nearly 90% in the last thirty days giving decent returns to investors who took an entry position in January 2023.

Source – CoinMarkerCap

Similar to Cardano and Shiba Inu, Hex is also attracting whale movements after its price rallied this month. More investors are staking the token to earn additional income, and if things continue for another month or two, HEX will surely reach new heights.

Also Read: Shiba Inu: List of Crypto Projects That May Skyrocket On Shibarium Launch

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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