The cryptocurrency market continues its struggle, with the global market cap falling 3.2% in the last 24 hours to $2.23 trillion. Bitcoin (BTC) is hanging on to the $60,000 mark, but if the current trend continues, the asset may also fall below this level.
Why Is The Crypto Market Dipping?
Rising oil prices due to tensions in the Middle East may have dipped the cryptocurrency market. Investor sentiment has taken a hit, and market participants may avoid risky assets.
Another reason for the current market dip could be the US Supreme Court’s refusal to accept a case regarding the $4.4 billion worth of Bitcoin (BTC) seized from Silk Road, the notorious dark web marketplace. The US government may be able to sell the Silk Road BTC, which could lead to a significant price correction.
Despite the bearish environment, let’s look at three assets that may rally this weekend.
Also Read: Why Alphabet (GOOG) Stock Fell 1.7% Today—Key Factors Explained
Top 3 Cryptocurrencies That Could Rally More Than 30% This Weekend
1. Shiba Inu (SHIB)
Source – Token Metrics
Shiba Inu (SHIB) is a popular cryptocurrency that has faced a fair share of hurdles over the last few months. SHIB’s bad days may be ending as the asset is expected to rally over the coming weekend.
According to CoinCodex, the cryptocurrency could hit $0.00002845 on Sunday, Oct. 13, 2024. Reaching $0.00002845 from current levels will translate to a rally of about 66.47%.
Source: CoinCodex
Also Read: Tesla Stock: TSLA to Unveil Robotaxi at Highly-Anticipated Event
2. XRP
Source – CryptoRank
Ripple’s XRP token has faced significant hurdles this year despite the fintech company settling its lawsuit with the SEC.
CoinCodex anticipates the cryptocurrency’s hitting $0.697941 on Sunday, Oct. 13, 2024, a rise of about 32% from current levels.
Source: CoinCodex
3. Floki (FLOKI)
Source: Analytics Insight
Floki is another meme coin that may rally over this weekend. The asset is named after Elon Musk’s pet Shiba Inu dog.
Also Read: Top 5 Most Shorted Stocks On Wall Street
According to CoinCodex, Floki could rise to $0.000157 on Sunday, Oct. 13, 2024, nearly 20% from current levels. While the cryptocurrency may not rally by more than 30% this weekend, CoinCodex anticipates the meme coin to continue rallying over the next few weeks.
Source: CoinCodex