The cryptocurrency market witnessed a slight correction earlier this month, but the trend seems to be changing again. Bitcoin (BTC) has reclaimed the $42k level, and the global crypto market cap is back at $1.7 trillion. Many analysts and investors hope the crypto market will enter a bull run in 2024, fuelled by the SEC’s (Securities and Exchange Commission) recent spot BTC ETF approval and BTC’s halving in April.
Let’s look at three crypto projects that could turn $10 investments into $1000 if we enter a bull market this year.
Top 3 cryptocurrencies that could turn $10 into $1000
Solana (SOL) was one of the best-performing cryptocurrencies in 2023, reaching a high of $123.6 on Dec. 25. However, SOL’s price significantly dipped since its 2023 peak. The price dip could be a lucrative entry point for new investors. If we enter a bull run later this year, there is a possibility that the cryptocurrency will reclaim and surpass its 2023 highs. The asset may even hit a new all-time high, with high market and investor sentiment.
Solana (SOL) has also seen a surge in orders for its mobile phone, Saga. The development could trickle down into the asset’s price as well.
Shiba Inu (SHIB):
Shiba Inu (SHIB) is one of the most popular cryptocurrencies in the market. However, the asset’s price has struggled for the better part of the last year. Nonetheless, SHIB fans and investors still pursue the ‘one-cent dream.’ If the crypto market enters a bull run, SHIB may see a spike in its price. Moreover, the SHIB team is working on a new burn mechanism, rumored to burn trillions of tokens yearly. The project’s massive supply is one of its most significant barriers to higher prices. If the team can reduce SHIB’s supply, we may see a sudden spike in the asset’s price.
XRP is one of the most popular cryptocurrencies for cross-border remittance. However, Ripple, the fintech company that utilizes the XRP token, is caught in a legal battle with the SEC (Securities and Exchange Commission). Although the company received a favorable verdict from a US district court, the lawsuit has entered the high court, and investors await a ruling. There is a possibility that the high court will rule similarly to the district court, which could push XRP’s price to new highs.