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The volatile world of cryptocurrency has left several investors burned, leaving them only to look on as their hard-earned money evaporates in unexpected market events. Many are currently experiencing the gut-wrenching sensation of seeing their portfolio take a massive plunge this week. This has left newbies wondering if crypto is nothing more than a high-risk gambling.
However, few investors are thinking of how to profitably invest in altcoins when the market seems to change without warning. To answer this, our team of experts at Insidebitcoins has compiled a list of 6 best altcoins to invest in today that could help investors and traders identify tokens that will yield high returns on investment. We have also detailed two presale tokens that could offer early investors over 100x profit upon launch.
6 Best Altcoins To Invest In Today
As it turns out, XRP, Immutable X, Cardano, and Render are some of the few tokens that could multiply investors’ portfolios 10-fold. Despite a general bearish market, they have all posted significant gains between 3% and 10%. This article analyses tokens and the factors driving their positive performances.
While the token mentioned above may have more potential in the long term, investors can capitalize on Base Dawgz’s short and long-term prospects. The unique viral presale token has formally launched its staking campaign, signifying that token holders can start earning immediately. Also, PlayDoge’s presale performance has been nothing short of impressive, with popular YouTube crypto analyst Jacob Bury emphasizing its potential for over 100x gains upon launch.
1. XRP (XRP)
In the latest development of the legal dispute between the SEC and Ripple Labs, the SEC submitted its final rebuttal. However, the claims were countered, spreading a ripple of confidence among investors. Despite the SEC arguing that Ripple’s actions were marked by recklessness, the court dismissed Ripple’s “fair notice” defense. The court is tilting towards XRP’s defense that it cannot be classified as a security.
Following the court’s body language in the Ripple lawsuit, the XRP token saw a remarkable surge from $0.618 to $0.631, marking a 2.10% increase. Aided by this price hike and XRP’s growing adoption, analysts are confident that the altcoin will surpass $0.88 by August.
At the time of writing, the current price of XRP is $0.4319, reflecting a 7.34% increase over the past 24 hours. The 1-day Relative Strength Index (RSI) has zoomed to 52.70, suggesting that XRP is leaving the oversold zone. This signal implies that it has triggered a price rebound.
Meanwhile, The immediate resistance level is approximately $0.4100, slightly above the current price. If the price surpasses this level, the next resistance is expected near the recent highs of $0.4500. This resistance level is crucial as it represents a point where the price previously encountered difficulty advancing further.
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Moreover, an analysis of the trading volume demonstrates the potential for price growth. There has been a significant surge in trading volume, currently at $118.5 million, vastly surpassing the Volume Moving Average of $29 million. This surge in trading activity indicates increased market interest and hints at a possible shift in momentum.
2. Cardano (ADA)
The value of ADA, the native token of the Layer 1 Cardano blockchain, has been predicted to increase substantially in the coming days. This price prediction comes on the heels of the upcoming Chang hard fork event. The hard fork is in its concluding phase, and according to a post on Twitter by the founder of Cardano, a fork-ready node is now available.
Details of the recent Twitter revealed that Cardano developers are waiting for 70 percent of the stake pool operators to test and update, a process that “generally requires a month.” With the Chang hard fork approaching, the price of ADA is slated for a massive breakout. Dan Gambardello, a prominent analyst and Cardano whale supports this forecast.
Cardano (ADA) is exhibiting potential despite its recent price volatility. Currently trading between $0.3453 and $0.4097, it is approaching its nearest resistance level of $0.4372. Although bullish momentum appears subdued with a Relative Strength Index (RSI) of 38.011 and a MACD level of -0.00472, the growth potential remains noteworthy.
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If ADA surpasses the nearest resistance, it could aim for the next resistance at $0.4372. Should this happen, it would reflect a potential increase of approximately 15% from the current upper range. Consistent support at $0.3452 shows the token’s strong foundation, indicating readiness for the next phase of this anticipated bull run.
3. Base Dwagz (DWAGZ)
While coins like Render, Immutable X, Cardano, and XRP may have less potential in the short term, investors capitalize on Base Dawgz’s short and long-term prospects. The unique viral presale token has formally launched its staking campaign, signifying that token holders can start earning immediately.
Base Dawgz’s staking event follows on the heels of its astonishing presale performance, which has seen it raise over $2.3 million in just a few weeks. Analysts are confident that Base Dawgz is Base’s next top meme coin. The token has been predicted to leapfrog Brett easily; Base Dawgz saw its presale price soar, while Brett’s investors could only watch as it lost over 20% of its value this week alone.
Although the presale price of $DAWGZ has risen from $0.00479 to $0.00581, Base Dawgz continues to smash through successive price stage targets effortlessly. Investors are encouraged to seize the current opportunity to participate in the presale as another price increase is scheduled in less than six days. The combination of all these unique features and reward systems is why YouTuber and analyst Jacob Crypto Bury believes DAWGZ could mint the next wave of millionaires.
Meanwhile, investors who have bought and staked their tokens will get their staking rewards 24 hours after staking goes live. Apart from staking, investors can also earn extra $DAWGZ tokens through Base Dawgz’s social rewards program. This initiative enables community members to receive points by sharing memes and posts related to Base Dawgz on their social media profiles. After the presale ends, the points can be redeemed for $DAWGZ tokens.
4. Immutable X (IMX)
Immutable X is gaining public attention for its efforts to streamline the transfer of digital asset ownership. The innovative project also tackles the issue of scalability and security challenges in digital asset trading. The platform leverages several security features, such as zero-knowledge proofs and other cryptographic solutions, to safeguard assets and secure transactions.
Recent requests for integration by other projects indicate a growing recognition of IMX, driven by its efforts to address scalability issues. These integrations enhance the platform’s transaction liquidity and ensure the security of users’ assets, positioning it competitively in the cryptocurrency market. Moreover, Immutable’s strategic partnerships with key industry players have strengthened its credibility and investors’ appeal.
Price predictions from reputable analysts suggest that the Immutable X token could reach an average price level of around $3.69 soon. If market conditions remain favorable, IMX tokens can achieve a maximum price of $4.08 by the end of 2024. Strong bullish sentiment in the market could help IMX Token reclaim its position.
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— Immutable (@Immutable) July 5, 2024
As the ImmutableCoin project expands, many crypto traders speculate about whether the IMX Token can ever reach the $10 mark. Based on past performance and current growth trends, it is likely that Immutable Coin will reach $10 in the long term. However, if the anticipated crypto bull run begins earlier than expected, the IMX token could trigger this milestone by August.
5. PlayDoge (PLAY)
PlayDoge’s presale performance has been nothing short of impressive, with the token currently priced at $0.00516. Originally launched on the BNB Smart Chain, the token has been bridged to the Ethereum blockchain, providing investors with the choice between BSC’s low fees and Ethereum’s decentralization.
This strategic move has been well-received, pushing the total presale past the $5.6 million mark. It also positions the presale token for potential listing on major exchanges like Binance. Stakers get an APY of 135%, although this rate has been structured to reduce as more tokens are staked. The fact that over 138 million $PLAY tokens have already been staked shows a strong community interest and active participation in the project.
Another standout feature why investors should consider PlayDoge is its play-to-earn (P2E) game, which adds a nostalgic twist to the meme coin market. The game, which is inspired by the 1990s virtual pet Tamagotchi, enables users to nurture their digital pets by ensuring they are fed, rested, and entertained. Players, in turn, earn $PLAY tokens as a reward for their care.
Furthermore, users can take care of their virtual pets on their smartphones as the game is available for download on both Apple and Google Play stores. Also, PlayDoge’s community engagement strategy uses a share-to-earn that rewards users for posting about the project on their social media pages. Participants are rewarded with points that can be exchanged for $PLAY to foster an active community.
The combination of PlayDoge’s innovative P2E model, strategic marketing, and explosive presale performance makes it a formidable “player” in the crypto market. Analysts and commentators, including popular YouTube crypto analyst Jacob Bury, have emphasized PlayDoge’s potential for 100x gains upon launch.
6. Render (RNDR)
One of the beneficiaries of advancements in artificial intelligence (AI) technology is Render, often referred to as the ‘Nvidia of crypto.’ Recently, RNDR’s technical analysis has posted a “buy now” signal to investors. This demonstrates the token’s significant potential for continued price growth in the coming days and weeks.
The Render token is exchanging hands at $6.67, reflecting a profit of over 3% today. The chart indicates a cumulative surge of almost 700% since its launch. With favorable market movements, Render tokens can reach a maximum price of $18.68 this year. Increased investor interest in the project could also propel RNDR Token prices to post a new ATH in 2024.
With an RSI around 40 and a MACD close to zero, there is potential for bulls to dominate over weakening bearish sentiment. This scenario could send RNDR’s price into an upward spin. Investors looking to break into the upcoming price rally can monitor these resistance levels closely to get the perfect entry point.
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— The Render Network (@rendernetwork) July 5, 2024
In summary, RNDR is displaying promising indicators of a potential bull run. Currently trading between $5.52 and $6.9, it has recently experienced a daily increase of just over 3%. The nearest resistance is positioned at $6.9, surpassing this level could propel RNDR toward $7.66, representing a potential increase of over 35%.
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