The price predictions for many cryptocurrencies in 2023 suggest a year of climbing value in the crypto market. Ethereum (ETH) and Dogecoin (DOGE) will be looking to continue asserting themselves as some of the biggest cryptos to invest in while the new meme coin Big Eyes Coin (BIG) is licking its paws as it prepares to go live.
The crypto world is famously volatile as prices can easily fluctuate making it difficult to always forecast the trajectory of cryptos. But at the same time, price predictions can be a useful guide in the right direction for those new on the scene and looking to buy cryptocurrencies yet unsure of which is the correct one for them.
Even if you have to be cautious with shaping too much of your investing strategy around them, they enable investors to have a somewhat informed understanding of the market.
So let’s have a look at price predictions for some cryptos this year:
Ethereum will remain one of the biggest cryptos in 2023
Ethereum (ETH) is one of the most widely-recognised coins in the crypto market and not for no reason. Ranking second, it currently has a market cap of just over $209m.
2022 saw the price of ETH coins drop from $3000 to below $1000, making it a rare year of opportunity for investors hoping to buy ETH coins. 2023 has since witnessed a price upswing as it soared above $1700 in February and its price prediction for the Q1 trade of 2023 will see it priced at $1800 with further chances of rising beyond $2000.
What effect will Elon Musk have on Dogecoin’s price?
Dogecoin (DOGE) is currently in the top ten of cryptocurrencies with a market cap of over $10m. Unlike many other cryptocurrencies, Dogecoin’s price can sometimes feel tied to changing currents outside the crypto world.
The primary example of this is the Elon Musk effect. When he sealed a lucrative takeover of Twitter its ripple effects gripped the crypto world. Almost immediately, Dogecoin (DOGE) saw its price surge by almost 100%.
This is due to Musk always referring to Dogecoin as his favourite crypto and his continuous support of it has led many to believe that eventually it will be integrated into Twitter. The general consensus is that should this happen, DOGE’s price will definitely sustain.
Cute kitty meme coin or a ferocious feline in the market?
Big Eyes Cat (BIG) is the latest entry in the meme coin field and has enjoyed a more than promising start in its presale.
A target of $50m in the presales may appear audacious at first glance but Big Eyes Coin has quickly set about showcasing why it’s on par with its ambitions.
In the 11th stage of their presale out of 15, BIG has already amassed $28m and this number is only expected to continue climbing. This has made it the most successful presale in recent crypto history and the gathering optimism will only continue to enjoy an upsurge as it looks to complete its presale and launch into the live market.
The cute cat coin has generated this through an approach centred on building a feeling of community which has helped draw investors in. This has included healthy competitions promoted on Twitter and ensuring that those holding BIG tokens are included in the decision-making process regarding the new crypto’s future.
Drawing up a price prediction for Big Eyes is difficult as it remains early days. The market is unpredictable and it isn’t always a guarantee that a coin can always be impervious to adverse market changes. But what we can go off is how it has performed during its presale which bodes well for Big Eyes.
Disclaimer: This article is a paid publication and does not have journalistic/ editorial involvement of Hindustan Times. Hindustan Times does not endorse/ subscribe to the contents of the article/advertisement and/or views expressed herein.
The reader is further advised that Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.
Hindustan Times shall not in any manner, be responsible and/or liable in any manner whatsoever for all that is stated in the article and/or also with regard to the views, opinions, announcements, declarations, affirmations etc., stated/featured in same. The decision to read hereinafter is purely a matter of choice and shall be construed as an express undertaking/guarantee in favour of Hindustan Times of being absolved from any/ all potential legal action, or enforceable claims. The content may be for information and awareness purposes and does not constitute a financial advice.
Download the Mint app and read premium stories
Log in to our website to save your bookmarks. It’ll just take a moment.
You are just one step away from creating your watchlist!
Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
Your session has expired, please login again.
You are now subscribed to our newsletters. In case you can’t find any email from our side, please check the spam folder.
This is a subscriber only feature Subscribe Now to get daily updates on WhatsApp