Last month was a very good period for Bitcoin : the price of the main cryptocurrency rose by about 40 percent and reached a new all-time high of 67 thousand dollars. But even this remarkable performance pales in comparison to the performance of some of the most popular altcoins over the same period. Many of the coins with low capitalization have grown hundreds of times, but the most interesting investments were the assets, which we will list below. Summing up the results of the month.
We checked the actual data: today the cryptocurrency market looks good. In particular, Bitcoin has gone up again and even reached $ 64,000 last night. This means that the positive in the niche of coins remains.
15 minute Bitcoin chart
The ranking of ten cryptocurrencies by market capitalization looks like this. Note that many coins have shown good gains on a weekly scale.
Rating of cryptocurrencies by capitalization
Best investments in the last month
The third place in the rating is taken by the project-follower of the famous Dogecoin (DOGE) cryptocurrency called Shiba Inu (SHIB) . Since the beginning of October, the value of the token has grown by about 804 percent, while the growth has been fueled by new tweets from billionaire Elon Musk .
Recall that it was thanks to his PR at the beginning of this year that Dogecoin began to grow sharply in price and pushed the development of the "memcoins" ecosystem.
Shiba Inu price trends for the last 30 days
According to Decrypt journalists , SHIB managed to overtake DOGE in terms of capitalization. The coin has become so popular that it was even added to the list of trading pairs of the largest American cryptocurrency exchange Coinbase.
It is important to note that now SHIB has been at approximately the same price level for several days, which may signal the depletion of its upside potential. In addition to the negative news, the news about the activity of one investor who invested $ 8 thousand in Shiba Inu in August 2020 added to the negative news. As a result, his investments grew to $ 4.8 billion. This amount looked like this.
The amount of savings of a cryptoinvestor
However, the investor got rid of the coins tonight. He did this through multiple transactions, each worth the equivalent of $ 662 million.
Large transfers of SHIB tokens
We believe that here we are talking about the so-called OTC transactions , that is, outside the cryptocurrency exchanges. Most likely, the owner of the coins found individual buyers and paid for the coins offline. Thus, he saved the cryptocurrency from a collapse in the rate, because such a volume of SHIB on the sale would definitely have a negative impact on the price.
However, investors reacted to the event. Over the past 24 hours, SHIB plummeted 7.2 percent.
SHIB rate chart per day
The second place in the rating is the altcoin Samoyedcoin (SAMO) , the value of which increased by 2388 percent over the month. This is also an imitator of Dogecoin, but already on the Solana blockchain . In fact, the coin does not have any outstanding features other than the fact that it managed to become the most popular of all "doggy" cryptocurrencies in the Solana network.
Samoyedcoin price dynamics for the last 30 days
SAMO is currently trading at $ 0.082. The capitalization of the cryptocurrency has crossed the threshold of $ 250 million, while the project entered the top 300 of the coin rating in terms of capitalization.
Finally, the Dogelon Mars project under the ticker ELON became the record holder among the most popular coins of October , which is a clear reference to the head of Tesla. Another memcoin found great success among investors - in a very short period of time, the cryptocurrency took 140th place in the rating by capitalization, and its price increased by almost 4000 percent in a month.
At the same time, at the peak of trading, its capitalization reached a billion dollars, that is, the asset was very popular as for a dummy project.
It is important to note that all of these coins are really dummies. From a technological point of view, they do not have any significant advantages over fundamentally useful projects, so the growth of their prices is supported only by the hype. As soon as the trend passes - and it can happen at any moment - "meme coins" will quickly begin to lose value. Therefore, they cannot be called a profitable long-term investment.
We believe this situation demonstrates the limitless potential of the cryptocurrency market. Here assets can increase in value several times in a matter of days. Accordingly, it is definitely worth contacting a niche - albeit while acting as carefully as possible.In addition, it's funny that such "joke" investments outpaced serious projects like Solana, Polkadot and Avalanche in terms of profitability. This means that experienced investors probably have reason to be angry at the unpredictability of the market.
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