These 5 altcoins send a "bullish signal"

[NancyDeep]

In this article, we will specifically share bullish predictions for five popular altcoins. Here are the details...

The social reaction of the Shiba inu was positive
Shiba Inu (SHIB), a cryptocurrency that has gained tremendous popularity and interest in recent months, is making waves again as its price shows signs of recovery. This week, SHIB price is expected to rise above the $0.0000065 range. In addition, on-chain data analysis revealed a significant increase in prosocial emotions among vibrant Shiba inu communities. After a tumultuous start to the month, SHIB investors are starting to feel more optimistic about the project's prospects. This new optimism can be attributed in part to Santiment's sentiment, which assesses the overall sentiment of the blockchain community by comparing the number of positive and negative reviews.



In addition to the positive sentiment, the Shiba Inu community received interesting updates from key people in the project. Famous Shiba Inu developer Masatoshi Kusama caused a stir when he posted a cryptic tweet about the upcoming product. Shortly after, another major contributor, Lucie Shib, confirmed the vitality of the project and her commitment to development in another tweet. According to the latest data from CoinMarketCap, SHIB is currently trading at $0.00000669, up 2.65% in the last 24 hours. In the past 7 days, the SHIB price has improved, and the emoji has increased by 7.29%.

The altcoin MATIC is highly volatile
Polygon has made a major announcement and launched "The Value Prop," an open database of blockchain use cases. This comprehensive catalog includes more than 300 applications and a variety of use cases across multiple business units, blockchain networks, and geographies. The initiative aims to demonstrate the positive applications of blockchain technology and showcase it as a multi-functional tool beyond asset trading.



Amid negative sentiment on blockchain technology due to regulatory pressure on major market players such as Binance and Coinbase, Polygon's move to highlight real-world applications is significant. This is in line with the belief of Web3 experts and industry participants that blockchain should be seen as a general-purpose technology for solving real-world challenges. Polygon is ramping up Web3 development to find new uses, in line with overall industry trends. Ripple (XRP) recently partnered with Banco de la Republica, Colombia's central bank, to explore blockchain use cases. This shows that the potential of blockchain technology beyond cryptocurrencies is increasingly recognized.

Polygon co-founder Sandeep Nailwal also launched the Nailwal Fellowship, a funding program that provides financial support and resources to early Web3 developers. The company promotes the Web3 ecosystem by providing funding, mentoring, and access to top founders and investors. Meanwhile, Polygon's native token MATIC is trading in positive territory, up 9% in the last 24 hours. According to TradingView charts, the price at the time of writing is $0.6228.

$10 XRP?
The SEC-Ripple litigation, which has been going on for more than two years, may soon be over. Mark Fagle, former regional director of the SEC's San Francisco regional office, expects a judge to rule on the XRP case in the coming days. In a tweet, Fagel responded to an XRP enthusiast who said the SEC's withdrawal of the case before summary judgment could weaken the presiding judge. A follow-up tweet said the delay in making a decision would strengthen the public relations argument that it influenced the judge's decision and led to further confusion.



Seeking to avoid speculation, Fagle said a court decision was expected in a few days. According to Fagel, any further delays in the case are due to the complexity of the case and not any hidden agenda. According to Fagel, a former SEC director, Ripple's case is very different from other recent enforcement actions launched by the securities regulator. He noted that the judge may not address the Hinman document or secondary market trading issues. However, these emails may be cited in decisions involving the liability of individual defendants.

Cardano: $5?
Cardano (ADA) is attracting great interest as analysts have high hopes for its price performance by the end of 2023. Citing the platform's solid foundation and expanding ecosystem, experts predict significant milestones and huge upside potential for ADA. However, investor concerns about recent price volatility have sparked debate about what is causing the ADA market volatility. 1.2 Sebastian Purcell, CEO of Capital Management, predicts Cardano prices will rise as the recent drop in ADA prices caused by SEC concerns has subsided and fears that investors may liquidate their holdings.



Analysts predict that the Ripple decision will significantly affect ADA's price. If Ripple wins, ADA could rise to the low range of 0.50. Even in a future bull market, if the result is negative, ADA may struggle to reach its previous all-time high. He stressed the importance of monitoring the Ripple case as it could affect ADA's performance. Forecasts that differ from other analysts, ranging from $5 to $10, indicate consensus among analysts that ADA will rise. These estimates are based on Cardano's growth in user base, interoperability and functionality. Due to its innovative approach to decentralized finance, Cardano has been hailed as a possible game changer in the crypto space.

In Arbitrum, this development bodes well for bullishness
Although Arbitrum governance token ARB has been steadily declining since its airdrop at the end of March, its ecosystem is showing healthy growth. A recent Nansen report showed that Arbitrum's activity improved after the airdrop and stabilized at a "higher level" than before the airdrop. Daily active users, gas costs, and transactions have been rising since April 2023. After the Aribtrum airdrop, the gap between Arbitrum's active users and Optimism widened to close in on Ethereum. Trading volumes on Arbitrum-based decentralized exchanges paint a similar picture, showing a significant increase in trading volumes after the airdrop.



In addition, Nansen's report revealed that ARB airdrop recipients accounted for only 5% of blockchain activity, while Arbitrum attracted more new users after the airdrop. Additionally, an upcoming update to Ethereum in the second half of 2023, called Cancun Deneb (Decun), will include EIP-4844 (proto-Danksharding), which will reduce Arbitrum's transaction fees and increase the blockchain's value proposition. In addition, the Arbitrum Foundation recently disclosed a backlog from sequencers, which are part of the Layer 2 fees that users pay to send data to Ethereum.