The cryptocurrency market is green today after starting the week on a bearish note. This change has seen some record double-digit coin gains. However, some new entries are performing deplorably against the background of this bullish momentum. These include DFinity Internet Computer (ICP), Shiba Inu (SHIB), and iExec (RLC).
At the time of writing, RLC and ICP have dropped by double digits in the last 24 hours. ICP is the biggest loser after losing 20% of its value in the last 24 hours to change hands at 239.84. RLC is down 12.61% to trade at 6.5 British pounds.
Coinbase Pro listed both RLC and ICP for the past week. RLC’s price came first on May 4, and due to the trading effect, the coin rallied to set a new all-time high (ATH) at 11.5 pounds on May 10. On the other hand, the ICP listing was May 10 and Coinbase listing effect saw currency trading as high as £ 521.8. Due to explosive trading on its debut, ICP temporarily became the fourth largest cryptocurrency by capitalization before sliding down to eighth position.
Unlike RLC and ICP, SHIB is recovering from a double-digit drop earlier today and is currently down 5.34% to trade hands at 0.000.022.14 pounds. While ICP and RLC won due to Coinbase’s listing effect, SHIB’s performance is based on speculation as traders try to find the next big project to get on after Dogecoin (DOGE).
Various predictions from different analysts
Right now, ICP, RLC, and SHIB are experiencing price shocks, and this has seen crypto analysts make varying predictions on how they expect the coins to perform. According to the forecasts of three analysts, namely Wallet Investor, Gov.Capital blog and DigitalCoinPrice, SHIB is not a good long-term investment. While DigitalCoinPrice sees SHIB trading at £ 0.000.031 at the end of 2021, Wallet Investor and Gov.Capital see the coin closing the year trading at £ 0.000.011 and £ 0.000.004, respectively.
Making predictions on RLC, DigitalCoinPrice projected that the token will conclude this year trading at 14.6 pounds. However, Governor Capital’s blog and Wallet Investor believe that the coin will not reach those levels. According to the government, Capital RLC will close operations this year at 9.4 pounds. On the other hand, Wallet Investor claims that RLC will end 2021 while changing hands at 8.15 pounds.
Gov.Capital’s blog made a bullish prediction for ICP, saying that the coin will hit £ 1,001.01 over the next year. Wallet Investor, on the other hand, made a reserved forecast saying that ICP will trade at 310.81 pounds during the same period. DigitalCoinPrice was, however, slightly bearish on the coin, saying that it will trade around 143.67 pounds for the next 12 months.