Most top coins from the crypto space had shed a fair share of their respective valuations during the early hours of Tuesday. However, by mid-day, the market had started cooling down and the coins were seen making up for their losses.

Bitcoin managed to shrug off the bearish sentiment on the daily time frame and had already entered into the green territory. Trading at $37.5k at the time of press, the market’s king-coin had noted an 0.18% uptick when compared to the previous day. Its weekly losses, however, continued to revolve around 15%, indicating that it was not yet out of the woods.

The altcoin leader, Ethereum, was in a fairly similar position. However, XRP and Cardano were the top alt losers, for they had depreciated by 8% and 5% respectively.

Source: CMC

XRP

XRP was trading at quite a critical juncture at the time of the press. As can be noted from the chart attached below, the $0.7 level acted as a support during the first two weeks in January and briefly stopped the token from tumbling. Currently, XRP is trading around the same range.

If XRP manages to hold back, then it would be able to put a cap on its losses. A failure to cling on to the said level could push back XRP to the region [around $0.59] where it consolidated during the late-January, early-February period.

Source: TradingView

Cardano

Cardano seemed to be in a much trickier position at the time of press. A couple of days back, the token lost its crucial $1 support lifeline, as a result of which, it started trading around its 2021 late-February levels of $0.8.

To aggravate the wounds further, ADA has also been trading below its 50 and 200 day moving averages – another sign of weakness. Despite the wobbly price environment, it should be noted that Cardano’s fundamentals continue to remain undeterred and vouch for a bright long-term future.

Source: TradingView

Apart from the aforesaid altcoins registering losses, Solana also had depreciated by 4%, making it Tuesday’s third-largest daily loser.

Despite predictions that the Dogecoin (CCC:DOGE-USD) renaissance is not over, the popular meme cryptocurrency began today on a low note. As of this writing, it is down 5 cents on the day from 31 cents to 26 cents. At one point, Dogecoin prices dipped as low as 21 cents, a drop of roughly 115.76%. As InvestorPlace’s Brenden Rearick notes, “When the king meme goes up, its court moves in sympathy.” That seems to be true for when it goes down as well. Similar dog cryptos aren’t fairing much better. Shiba Inu (CCC:SHIB-USD) has plunged 17% today, despite the recent purchase of 150 coins by a large wallet investor. Investors are left to scramble to understand what the future will look like for Shiba Inu price predictions.

Created in the image of Dogecoin in April 2021, at a time when the meme coin’s value was rising steadily, Shibu Inu launched with the goal of surpassing its predecessor in value. While it hasn’t succeeded in this endeavor or even come close, it has certainly done its part to benefit those brave enough to hold it. Since Dogecoin’s alleged peak in May 2021, Shibu Inu has often moved in sympathy alongside its big brother.

Today’s plunge certainly raises some questions regarding where this meme coin will go. But despite such a steep and sudden decline, many analysts foresee growth in their outlook regarding Shiba Inu price predictions.

Shiba Inu Price Predictions: Is This Crypto Destined for the Same Resurgence as Dogecoin?

Just how far is Shibu Inu destined to go, and in which direction? Let’s examine what analysts have been saying about the future of this meme coin by the beginning of 2022.

• Wallet Investor predicts that although prices will continue to decrease throughout the coming month, Shiba Inu will begin the year at roughly $0.000011.
• Coin Price Forecast predicts that Shiba Inu will reach $0.00001132 by the end of 2021 up from $0.00000570 for the middle of the year, an overall increase of 86%.
• FXStreet reports that “Cryptocurrency market analysts believe that Shiba Inu coin can overtake Dogecoin [and] expect decentralized exchange ShibaSwap to burn more SHIB. The drop in SHIB’s circulating supply is likely to trigger a price rally.”

On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Given the rather incredible moves we’ve seen in the crypto world today, various large cap cryptocurrencies are once again in focus for many investors. Among the cryptocurrencies on watch is Dogecoin (CCC:DOGE-USD). Today, investors may be looking closer at the expert Dogecoin price predictions than on other days.

Indeed, Dogecoin’s current downside move of 16% is in line with other major cryptocurrencies today. It appears a number of factors are driving this volatility, and investors are largely taking a risk-off approach to these risky assets right now.

Among the key factors driving today’s decline is a rather bumpy start to Bitcoin’s (CCC:BTC-USD) introduction as legal tender in El Salvador. What was expected to be a smooth rollout has proven to be more difficult than previously anticipated. Accordingly, investors banking on cryptocurrencies being the wave of the future certainly have a lot to chew on today.

That said, let’s dive into where the experts think DOGE could be headed.

Dogecoin Price Predictions

For reference, DOGE currently trades at 26 cents per token at the time of writing.

• DigitalCoinPrice puts forward 2021, 2025 and 2028 price targets of 38 cents, 76 cents and $1.18, respectively, for DOGE.
• Wallet Investor’s one-year and five-year price targets for DOGE are 58 cents and $1.67, respectively.
• Coinpedia suggests DOGE could hit 97 cents by the end of 2021, should the stars align.
• CoinPriceForecast puts forward 2021, 2025 and 2028 DOGE price targets of 25 cents, 72 cents and 80 cents, respectively.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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Article printed from InvestorPlace Media, https://investorplace.com/2021/09/dogecoin-price-predictions-where-will-doge-go-after-tuesdays-20-plunge/.

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