Forbes recently unveiled its list of the top 10 cryptocurrencies for March 2024, featuring a surprising showdown between Shiba Inu (SHIB) and Dogecoin (DOGE).
Let’s dive into the details.
Shib’s Meteoric Rise
Forbes turned its attention to Shiba Inu, impressed by its outstanding 280% surge in the last month, outpacing Bitcoin, Ethereum, and the US stock market. Among the top 10 for March 2024, SHIB stands tall beside crypto giants like BTC, ETH, Tether, Solana, and XRP. Despite its last position, SHIB’s inclusion marks a significant milestone.
Forbes highlights Shiba Inu’s evolution from a joke to a major player, citing a $24.4 billion market cap and a price above $0.00004 as of March 5, 2024. Forbes’ recognition follows SHIB’s impressive rally, rising by 378.11% in just eight days, attracting investors despite a minor 1.06% dip in the last 24 hours.
However, with SHIB retracing to $0.00003222, signaling a broader bearish trend, caution fills the market.
Read More: Shiba Inu Price Prediction: SHIB Price To Hit $0.01, If this Happens
Doge – Caution Warranted?
Forbes also points to Dogecoin as a meme-inspired cryptocurrency worth considering. Despite its growing credibility, concerns arise about its unlimited supply, potentially impacting its long-term value.
Breaking it down, Dogecoin is priced at $0.180490, with a high trading volume of $5.85 billion in the past day. Its market cap sits at $25.88 billion, marking a market dominance of 1.00%. Following the news, DOGE’s price surged by 8.00% in the last 24 hours. Overall, Dogecoin shows decent trading activity and price movement, reflecting high interest and market volatility.
Forbes’ Picks Beyond Memes
Forbes not only spotlights Shiba Inu and Dogecoin but also recommends other cryptocurrencies for the current bullish market. Notable mentions include BTC, ETH, XRP, BNB, Solana (SOL), and Cardano (ADA). Stablecoins like USDT and USDC receive praise as stable options for investors amid market volatility.
Also Read: Top Altcoins For 100% Profits This Week!
Who Shall Win the Race?
The upcoming Bitcoin halving is expected to play a pivotal role in determining the fate of Shiba Inu and Dogecoin. Speculations suggest a potential rise in SHIB’s price, positioning it higher on Forbes’ list. This positive outlook not only benefits Bitcoin and Shiba Inu but also paints a promising picture for XRP and the entire crypto industry in the coming months.
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Zameer Attar
Zameer is a financial analyst and writer with a particular interest in cryptocurrency markets. He has been studying cryptocurrencies and their market behavior for several years and deeply understands the factors that affect the price of cryptocurrencies. His expertise lies in his ability to use both technical and fundamental analysis to make informed predictions about the future direction of cryptocurrency prices. He has a strong understanding of market sentiment and uses this to inform his trading decisions and price predictions.
