Avalanche AVAX continues to rise sharply, surpassing Shiba Inu (SHIB) and entering the top ten by market capitalization. The current price is $55.46, an increase of 12%. Additionally, AVAX has gained 45.38% in the past seven days.
With Avalanche’s native token surpassing Shiba Inu in market capitalization, AVAX may be targeting the next cryptocurrency, Dogecoin (DOGE). AVAX has been one of the best-performing cryptocurrencies in March, establishing its foothold in the fiercely competitive altcoin market. It now has a market capitalization less than $3 billion below the leading dog-themed altcoin. However, the data that is positive for AVAX is the surge in trading volume.
In the past 24 hours, Avalanche’s trading volume exceeded SHIB, DOGE, and many other altcoins. The asset also beat price forecasts over the weekend and looks to be showing no signs of slowing down. As of now, AVAX’s market value is $209,959,543,370, which continues to rise.
With this momentum, AVAX is likely to break above the $60 mark soon, perhaps within the next week. The asset had previously held resistance levels for nearly 600 days. Now, bulls are predicting that the Avalanche network’s eponymous cryptocurrency could rise to $90. With Bitcoin driving the entire cryptocurrency market, this prediction doesn’t seem too difficult to come by.
It will be very interesting to see whether AVAX can break above the $60 mark in the coming days, and when this breakout might occur. This event will show whether this asset can sustain its rise in the coming weeks.
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