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With Bitcoin prices over a yearly high, many other projects in the market are also showing strong signs of life as trading volumes increase and excitement builds throughout the altcoin space.
With so many sudden changes in price in either direction, it can be hard to identify upward trends and pick out projects that are doing well amidst the noise.
El Hippo at All-Time High and Climbing
El Hippo has skyrocketed after a listing on Bitget on November 28 saw a heavy increase in trading volume that continues to rise now along with price. The market has taken a strong interest in the hippo-themed meme coin which launched in August of 2023 and has already gained 100,000 followers on social media and over 10,000 token holders so far.
El Hippo is currently giving away around $50,000 worth of HIPP in collaboration with Bitget. Users depositing or trading HIPP on Bitget are eligible for bonuses of up to $100 on a first-come, first served basis. The project also issues $700 every two weeks to its users via Zealy, and all of this activity is no doubt contributing to generating more interest in the project online.
HIPP is now trading at $0.0000000123, up around 400% from launch and 130% on the month, now trading at an all-time high. Meme coins are known for their capacity to shoot up (or down) in value, especially small cap coins like El Hippo which has a market cap of under $10 million. If the trend continues, there’s no telling where a low cap coin with such strong upward momentum could end up in the coming days or even hours of trading.
Solana Verges on Monthly High
Major Ethereum competitor Solana is having a fantastic month, climbing higher and higher and now sitting at #6 by market cap. Solana is now up over 80% on the month and verging on a new monthly high, currently trading at over $60 with a market cap of $25 billion.
The market has high hopes for the high performance blockchain which has taken a different approach to scaling and consensus than Ethereum, one that developers claim could be faster and more efficient. If Solana can prove itself as a worthy competitor to Ethereum, the token could climb higher still as it would play a vital role in facilitating transactions on a network that could itself be a major player in the emerging Web3 space.
Market getting traction in November
As interest in Web3 continues to rise, so too does interest in Solana, and with BTC prices now at $38,000, investors are coming out of the woodwork to adjust their portfolios accordingly.
Things are getting interesting in the crypto space, with Bitcoin now at the highest point since May 2022. As always, investors would be wise to trade and invest cautiously, practicing proper risk management at every step of the way as the situation in the market continues to unfold.
Arman Shirinyan
Alex Dovbnya
Gamza Khanzadaev
