The Internet Computer (ICP) digital currency has recently experienced a meteoric rise, destination an impressive daily increase of 33.4%, and its price is now around $13.22.
The Internet Computer (ICP) digital currency has recently experienced a meteoric rise, destination an impressive daily increase of 33.4%, and its price is now around $13.22.
This rapid rise has put ICP in the spotlight, with its market capitalization rising to $6 billion.
This cryptocurrency is rapidly gaining ground and is on track to eclipse the popular meme coin Shiba Inu (SHIB) in the market rankings.
Rising above Litecoin (LTC)
Internet Computer is a pioneering blockchain network designed to run at the speed of the web, directly expanding the capabilities of the Internet. The goal of the project is to facilitate a fully decentralized digital environment, offering a scalable and secure alternative to traditional cloud services.
ICP has carved out a place above Litecoin (LTC) in the cryptocurrency rankings. It is currently just below SHIB, which is in 18th place with a market capitalization of $6.23 billion, and ahead of Uniswap (UNI) in 20th place, with a market valuation of $5.72 billion. millions of dollars.
The cryptocurrency has also narrowed the gap with other major assets such as Wrapped Bitcoin (WBTC) and Toncoin (TON), which rank 17th and 16th with market capitalizations of $6.75 billion and $8.04 billion, respectively. , and Chainlink (LINK), which is currently ranked 15th spot with a market capitalization of $8.54 billion.
Bullish setup
Cryptocurrency analyst Tom Crown has identified which appears to be a pullback via inefficient price action for the ICP on the monthly chart.
According to Crown, ICP price is cruising through previous areas where trading was thin, suggesting the possibility of a quick move up to $20.
This analysis is based on the belief that price tends to move quickly through ranges that were previously bypassed due to low trading volume, known as “inefficient” areas.
Crown’s prediction, if accurate, could see the ICP appreciate significantly in the coming months.