The cryptocurrency market has experienced a notable upsurge recently, with several assets approaching their 2021 highs. This latest market rally is attributed to increased inflows into spot Bitcoin (BTC) Exchange Traded Fund (ETF) products, following the approval by the US Securities and Exchange Commission (SEC) in January. Additionally, investor sentiment is currently at its peak since the 2021 bull run.
Amidst this bullish backdrop, here are three cryptocurrencies that have the potential to deliver profits of up to 30% this month:
1. Ethereum (ETH):
As the second-largest cryptocurrency by market capitalization, Ethereum (ETH) has mirrored BTC’s trajectory with a significant price surge in recent weeks. ETH has experienced a rally of nearly 16% in the weekly charts and more than 66% over the past month.
Despite being down approximately 19.7% from its all-time high of $4,878.26 achieved in November 2021, there is speculation that ETH could reclaim its peak from 2021 in March. Should this occur, investors could potentially see profits of up to 30%.
2. Dogecoin (DOGE):
Widely recognized as the original memecoin, Dogecoin (DOGE) has witnessed substantial price appreciation in recent weeks. With a surge of nearly 39% in the weekly charts and over 111% in the past month, DOGE has demonstrated a strong bullish momentum.
If DOGE maintains its current trajectory throughout the remainder of March, investors may reap profits of around 30%, building on its recent performance.
3. Shiba Inu (SHIB):
Shiba Inu (SHIB) stands out as one of the most prominent cryptocurrencies in the market, particularly given its impressive performance in recent weeks. SHIB’s price has surged by a remarkable 168% in the weekly charts and 286.7% over the previous month.
Following a trajectory similar to DOGE, SHIB could sustain its rally and potentially reach a new two-year high in March. Should this trend continue, investors could anticipate profits of up to 30% on their SHIB investments.
In summary, Ethereum, Dogecoin, and Shiba Inu emerge as promising candidates for investors seeking significant profits in the cryptocurrency market this March. However, as with any investment, it’s essential for investors to conduct thorough research and exercise caution when trading cryptocurrencies due to their inherent volatility.
