The crypto market has been gaining upside momentum over the past few weeks. This is driven by a growing institutional uptake of crypto and an improved regulatory environment. For instance, the ProShares Bitcoin ETF in the US has sent all the right signals to the market.
On top of that, the fundamentals of individual coins are getting better. For instance, Ethereum is solving its scaling issues, creating a lot of excitement in its ecosystem. For this reason, analysts are excited about the opportunities that the cryptocurrency market presents this month. Here are Three worth cryptocurrencies to buy in 2021 as per analyst ratings.
1. Axie Infinity (AXS)
Axie Infinity is a revolutionary NFT gaming platform. The project has a gaming platform to develop gaming characters and sell them for AXS tokens. The uptake has been so strong that Axie Infinity’s NFT portfolio is now the most expensive in the world. The project’s massive potential has seen it draw a lot of interest from institutional money. The organization behind Axie recently held a series B funding round that pushed the project’s total value to $3 billion.
Axie Infinity’s potential to change the gaming world has not escaped the eye of analysts. Most analysts have upgraded their expectations for AXS, and the outlook is pretty impressive. Technical analysts believe that Axie Infinity has the potential to rally by 70% before the end of the month or at some point in December. This projection is premised on the fact that AXS has been making higher lows since September, an indicator that every dip is being bought up fast.
Besides the bullish technical analysis outlook for 2021, most analysts are pretty bullish on the outlook of Axie going into 2022 and beyond. Per analysis by Wallet Investor, Axie Infinity has the potential to hit $1600 in the next 5-years. Similar bullish projections have been given by Coin Price Forecast, which believes that Axie could hit $540 by the end of 2022.
The analysts at Coin Price Forecast also believe that by 2025, Axie Infinity could trade at $1092 per token. That’s a huge jump from its current price of $155.27. The highly optimistic projections for Axie Infinity are all premised on this project’s strong fundamentals. One of its biggest fundamental strengths is its market dominance. Before Axie Infinity, there were other attempts to make blockchain-based play-to-earn gaming a thing. However, it is Axie that had the breakthrough and has since been the most dominant.
2. Solana (SOL)
Solana easily ranks among the best crypto performers of 2021. Year-to-date, Solana is up by over 15,000%. In the past few days, it has made new all-time highs above $240, and it’s still gaining. Solana’s rally has a lot to do with the fact that, it is emerging as one of the most credible threats to Ethereum’s dominance. That’s because it can scale to unprecedented levels, and its transaction costs are among the lowest of all platform blockchains.
Due to its innovative protocol design, Solana can handle over 50k transactions per second without slowing down the network. That’s multiple times higher than what Ethereum, or any of the other major platform blockchains, can handle. This has seen its adoption shoot up quickly, with more than 400 major projects now building on the Solana blockchain.
Analysts have not been lost to its potential, and more of them are giving upgraded outlooks for it. According to CrowdWisdom, Solana is likely to trade at over $250 in November. This is premised on the improved optimism around this project at the moment. On social volume rankings, it has moved up one spot. The same goes for its social dominance rank, which indicates how investors feel about the project.
Other analysts have even better projections for it going into December and beyond. For instance, as per an analysis by Coin Price Forecast, it is possible that Solana could hit and surpass the $400 mark by the end of the year, and breakthrough $1000 by the end of 2022. Per the analysis by Coin Price Forecast, Solana could trade at over $11,500 by the end of 2030. Similarly, according to an analysis by Wallet Investor, Solana could trade at $1860 in the next 5-years.
Dogecoin (DOGE)
Dogecoin is one of the oldest meme coins in the crypto market. Dogecoin started as a joke and was designed to satirize the crypto market dynamics at the time. By its design, Dogecoin is not even supposed to gain in price. That’s because it is a copy of the Bitcoin code, albeit an inflationary one.
However, since 2020, when Elon Musk took an interest, Dogecoin emerged as one of the best performing and high potential cryptos out there. For instance, between April 2020 and April this year, Dogecoin rallied by over 12,000%. While it went into a correction shortly, it has since stabilized between $0.25 and $0.30. It also seems to be gaining upside momentum as bulls take control in the overall crypto market. Technical trading analysts at Invezz now believe that while Dogecoin has been trending in a descending channel lately, selling volumes are in decline. This means it could hit $0.33 within the month if bulls retake control.
Long term, analysts are even more bullish on Dogecoin. According to a Yahoo Finance analysis of Dogecoin back in June, Dogecoin has a realistic potential of hitting $1 within 2021 or 2022. The projection was based on the fact that Dogecoin has Elon Musk backing and that many other celebrities have joined the Dogecoin train.
However, it is not just the Yahoo Finance analysts that are bullish on Dogecoin. Lots of other analysts are pretty bullish on this crypto too. According to an analysis by Coin Price Forecast, Dogecoin can trade at $0.53 by 2022. That would mark a 100% increase from its current price. Similarly, Wallet Investor believes Doge has the potential to trade at $1.5 in the next 5-years. That’s a huge jump from Dogecoin’s current price of $0.26.
The highly optimistic outlook for Dogecoin has a lot to do with Elon Musk’s influence over this crypto, and the fact that its core metrics are getting better. With regards to Elon Musk, he pumped Dogecoin in 2020, and he has something bigger coming for this crypto that could see it make new highs in 2022. A while back it emerged that SpaceX and Geometric Energy Corporation were working on a Doge-funded trip to the moon.
