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May has proved to be a breakout month for Dogecoin, as top crypto analysts predict both DOGE and EverGrow Coin could be set for new highs within weeks.
EverGrow Coin has seen growth of over 20% in April following a major listing on the DigiFinex crypto exchange, which has seen unprecedented volume pouring millions into $EGC. The project is tipped to reach new highs as it launches the first of highly-anticipated applications into the EverGrow Coin ecosystem.
Top crypto analysts at FXStreet have predicted similar 70% growth for Dogecoin ($DOGE) following steady losses since the Dogecoin all-time high of $0.7376 in May last year. Dogecoin is currently trading at $0.142.
EverGrow Coin has not seen the huge marketing campaigns and hype of other crypto newcomers, but it nevertheless broke records after launching on the Binance Smart Chain in September last year. It brushed a market cap of $1 billion – enough to put it in the crypto top 100, but issues with CoinMarketCap data saw some investors pull out over buggy price movements.
EverGrow Coin has nevertheless under the radar succeeded in paying out $36 million in Binance USD stablecoin rewards, making it the top reflection token in the Binance ecosystem. This April it has achieved record volume after listing on the top 10 crypto exchange DigiFinex, with investors seeing the fruit of their EverGrow Coin backing.
The project is due to begin burning over 5 trillion EverGrow Coin tokens monthly – EverGrow Coin has already burned 52.85% of its supply according to bscscan.com. With a total supply of 1,000,000,000,000,000 $EGC tokens, the potential for EverGrow Coin to break the crypto top 20 is strong according to analysts.
The project will also launch an NFT marketplace on the Binance Smart Chain this month, with profits also going back into buying up $EGC tokens on the market and burning them permanently from the supply.
Analysts over at FXStreet have predicted an end to Dogecoin's bearish 2022, with a 70% price breakout predicted for Dogecoin in April. Dogecoin began the year with a price of $0.2095 and has yet been unable to reach the same price again.
Dogecoin fell to a low of $0.115 in March, the lowest price the top meme-coin has seen in a year's trading activity. However, analysts have suggested the lows have been an opportunity for investors to buy the dip in expectation of future price rallies in Dogecoin.
Analysts suggest the Dogecoin token may face a significant test in the coming days, but the token still remains a favourite among investors. It is currently in 11th place in the CoinMarketCap rankings with a market cap of $18.9 billion.
Disclaimer: The information posted in the article is for educational purposes only. By using this, you agree that the information does not constitute any investment or financial advice. Do conduct your own research and reach out to financial advisors before making any investment decisions.
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