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The Fear and Greed Index of the crypto market is reading below 46, painting a gloomy picture. This has seen several cryptocurrencies, including Bitcoin, massively lose value. Over the past few hours, the market lost 12.33% of the entire market capitalization.
Furthermore, on the weekly time frame, the market cap has dipped over 21%, plunging below $1.8 trillion. Analysts claim that the downturn was initiated by an active bear and the FOMO among investors over global uncertainties. However, this article takes careful consideration of some of the best altcoins to invest in today.
5 Best Altcoins To Invest In Today
A meme coin project, Brett (Based), is one of the few crypto projects investors could look into. Despite dipping briefly, its price has grown over 12% in the past 12 hours. Keen observers detected major favourable activities in the trading volume, leading them to project a massive comeback soon.
As many investors are experiencing the gut-wrenching sensation of seeing their portfolio take a massive dump this week, early investors in PlayDoge’s presale have no reason to worry. Analysts and commentators, including popular YouTube crypto analyst Jacob Bury, have emphasised PlayDoge’s potential for 1000x gains upon launch.
1. PlayDoge (PLAY)
PlayDoge’s presale performance has been nothing short of impressive, with the token currently priced at $0.00526. Originally launched on the BNB Smart Chain, the token has, however, 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 $5.9 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.
2. Brett (Based) (BRETT)
BRETT was introduced into the crypto market in February 2024 as a character in Matt Furie’s Boy’s Club comic series. The token has quickly risen through the ranks of Base tokens to become a top contender due to its humorous and relatable origins. Analysts speculate that BRETT could potentially surpass PEPE, driven by the expanding utility of the Base network.
The project team positions BRETT as Pepe’s closest companion on the Base Chain, representing a prominent cultural icon within its ecosystem. Leveraging the Base Chain’s robust and rapidly expanding ecosystem, BRETT benefits from numerous projects and applications developed on the platform.
The token has demonstrated robust growth, with its current price fluctuating between $0.06271 and $0.6276, marking a 12% increase in the last 12 hours. It is currently exhibiting impulsive movements, reflected in its RSI at 77.46 and Stochastic at 91.10. These indicators suggest the token is in an overbought condition, potentially signaling a further rise toward the nearest resistance level at $0.06290.
Moreover, BRETT has surged by 98% over the past month and 109% year-to-date. Its recent rally has outpaced well-known meme coins such as Book of Meme and MAGA. This growth spurt briefly propelled the ‘Base-based’ token ahead of BONK in the last 24 hours, securing its position as the sixth-largest meme coin by market capitalization.
3. OASIS (ROSE)
Oasis was designed to address two critical computing challenges: privacy and scalability. The protocol enables developers to create dApps prioritizing data confidentiality on Oasis or other EVM-based chains. It does this by leveraging Sapphire, an innovative platform that supports decentralized AI development and Web3.
Furthermore, the platform’s native token, ROSE is a multi-utility coin used for transactional purposes, staking, and delegation for validators. Holding $ROSE allows participation in governance decisions on the platform. Meanwhile, the protocol’s layered architecture enhances its versatility, making it suitable for a wide range of applications.
Furthermore, investor sentiment surrounding Oasis is notably optimistic, as reflected by a Fear & Greed Index score of 74, which indicates a prevailing sense of greed among market participants. Moreover, the 14-day Relative Strength Index (RSI) treads above the 70.1 mark, placing the token firmly in an overbought zone. This metric also suggests that Oasis’ token price may experience lateral movements in the near future.
Better Web3 gameplay requires on-chain privacy
One of the most interesting demos built on Oasis Sapphire, Texas Hide’em solves the gaming UX dilemma of keeping the entire game on-chain, guaranteeing the confidentiality of each hand 🤠
Check it out:https://t.co/DF12W8iu6D
— Oasis (@OasisProtocol) August 4, 2024
Meanwhile, ROSE trades at $0.05065 today, reflecting a decline of 13.79% in the past 24 hours. Despite this, the token has seen a YTD surge of 10.8% and a 235% uptick in trading volume. Its substantial market capitalization ensures ample liquidity, and the increase in its trading activity highlights strong ongoing market interest.
4. Base Dawgz (DAWGZ)
Base Dawgz is the latest meme project operating on the Base ecosystem. It provides an innovative multichain solution that expands blockchain interoperability. The platform has been built to foster interoperability across several blockchains, including Ethereum, Binance Smart Chain, Solana, and Avalanche.
The project tackles the issue of blockchain interoperability across multiple chains by leveraging advanced technologies like Wormhole and Portal Bridge. It enables investors to swiftly claim, store, and trade multiple tokens across several blockchain networks. This capability sets Base Dawgz apart in the crowded meme token market by addressing the typically isolated nature of blockchain ecosystems.
Meanwhile, the team has announced the launch of a “Be Social for Airdrop” initiative. This campaign is aimed at rewarding token holders for participating in the project’s activities on social media. Participants are rewarded with free tokens for creating and sharing content about the Base Dwagz. This approach fosters community involvement and promotes organic growth in the project’s visibility.
Congrats on passing 2.8 million $DAWGZ 🥳
We’re getting closer. And hopefully we can give you an update next week 🤝 pic.twitter.com/mRvjOMwD6F
— Base Dawgz (@BaseDawgz) August 3, 2024
Base Dawgz trades today at a presale price of $0.007061. The presale has already generated over $2.8 million, reflecting robust investor interest in the multichain solution the project offers. Moreover, this early success highlights a rising demand for projects offering solutions to ensure flexible and multiple cross-chain functionalities.
5. 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 $1.69 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.
Sign up for Immutable Passport and get rewarded!
Claim 50 gems and the first CUBEs on Immutable zkEVM with @layer3xyz: https://t.co/9GhPsvfph2 pic.twitter.com/RnrLrydb3p
— Immutable (@Immutable) August 4, 2024
As the Immutable 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 before the year ends.
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