After years of relative inaction, the crypto market is finally starting to heat up towards the end of 2023. Bitcoin and Ethereum saw a price spike in recent weeks, with many coins across the market following suit.
Of course, many people are asking whether they’ve missed the boat when it comes to the recent price activity, or if the upward momentum is just the start of something bigger.
In a market where Bitcoin dictates price movement and ERC-20 tokens are often correlated with ETH price action to an extent, it’s worth taking a look at current ETH price trends as well as price action in some smaller moon shot cryptos connected to ETH.
El Hippo Price
El Hippo price is currently trending upwards. The meme coin is just a few months old, with choppy trading seen since launching in August of this year.
With over 100,000 followers on social media, the project has quickly built a loyal community of fans who create and profit from making hippo themed memes. The project has issued tens of thousands of dollars worth of airdrops and still give out $700 every two weeks to its meme makers, creating a very active community online.
HIPP is now worth $0.000000005724, with a market cap of $4.1 million. With such a low market cap, the project could go 1000x and still be worth less than Dogecoin. Meme coins have seen some of the most meteoric price action out of any projects in crypto in recent years, and everyone is always hunting for the next PEPE or SHIB.
Some analysts believe that HIPP could have what it takes to fill those boots, although nothing is certain in crypto. However, the fact that price and social media activity have been steadily rising should be enough for most investors of meme coins to take notice.
Ethereum Price (ETH)
Taking a look at Ethereum price, we can see that ETH is also on an upward trend over the last 7 days, supporting investment in related ERC20 tokens like HIPP.
ETH itself could be a good buy at the moment if this chart is anything to go by, although with a market cap of $222 billion, it won’t be going 1000x any time soon. However, the upward trend is extremely promising for investors in the Ethereum ecosystem in general, with many Web3 and DeFi projects beholden to ETH price action, as well as many meme coins.
As the #2 cryptocurrency, ETH carries a lot of weight, and altcoins will struggle to rally when ETH itself isn’t showing signs of life.
All in all, the latest market activity in crypto could indicate a fresh wave of bullish investment incoming.
Ready to Blow
The signs for a bull run in crypto are starting to appear. Investors need to be careful that they’re not overextending themselves and that they’re practicing proper risk management when it comes to all their trading and investment activity.
With crypto prices starting to climb, it could be that we’re finally shaking off the dust from crypto winter and gearing up for another period of upward momentum throughout crypto – only time will tell.
The post Is it Too Late to Profit on Crypto in 2023? An Ethereum (ETH) Spike Could El Hippo (HIPP) With It appeared first on Analytics Insight.
Source: https://www.analyticsinsight.net/is-it-too-late-to-profit-on-crypto-in-2023-an-ethereum-eth-spike-could-el-hippo-hipp-with-it/