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Our spotlight is on the best altcoins to invest in, but first, let us look at the prevalent sentiment surrounding Bitcoin. The token has failed to maintain a projected strong position above $66,000 to trade at around the $60,000 mark currently. Its recent volatility has plunged the general crypto market into a correction phase.
With the recent turn of events, choosing the right altcoins to invest in is difficult. Investors are constantly searching for the best cryptocurrencies to buy now. This analysis aims to streamline this exploration by presenting a curated list of altcoins with potential substantial returns.
5 Best Altcoins To Invest In
Certain cryptocurrencies are drawing considerable attention as the crypto market develops through their remarkable performance. Today, we spotlight Maker, Litecoin, Kaspa, and Telcoin. Each of these cryptocurrencies has shown impressive price surges and robust market dynamics.
While analyzing the best altcoins to invest in, we’ve also included a special mention of the Weiner AI presale. The project sets itself apart from other meme tokens by uniquely blending meme virality with advanced Artificial Intelligence, significantly propelling its initial success. The integration serves as a pivotal catalyst behind its rapid growth
1. Maker (MKR)
Maker has regained momentum, increasing its value by 7.93% in the last 24 hours after a bearish trend since April. This surge in price is supported by a 41.69% rise in trading volume, demonstrating increased investors’ confidence in the token. Also, the altcoin has gained 4.12% over the past week, reflecting growing bullish sentiment for the MKR price.
Furthermore, the MACD technical indicator shows a rising pattern in its green histogram. Technical analysis suggests that this unique pattern indicates increased buying pressure for Maker in the market. Besides, MKR’s Simple Moving Average (SMA) has achieved a bullish crossover on its 24-hour price chart, indicating a positive prospect for the token this week.
Meanwhile, MakerDAO has recently integrated a Direct Deposit DAI Module (D3M) into Spark’s MetaMorpho Vault, enhancing the decentralized financial system. The integration allows Spark to supply 500 million DAI to Ethena’s USDe and sUSDe markets, which are linked to DAI. This development has contributed to the token’s recent positive performance.
The proposed changes to Spark's MetaMorpho Vault and SparkLend have been approved through the Governance Polls.
These updates, proposed by @phoenixlabsdev, will be included in the next Executive Vote. If approved, the following changes will be implemented:
[Mainnet] Update… https://t.co/CaXJ0iFgf6— Maker (@MakerDAO) June 21, 2024
If the general crypto market manages to hang on to its bullish sentiment, MKR is poised to retest its resistance level of $2,539 over the upcoming weekend. This projection is based on the bulls keeping the bears at bay while avoiding profit-taking. Conversely, if a trend reversal occurs, the Maker’s price will likely fall towards its crucial support level of $2,165.
2. Kaspa (KAS)
Kaspa has maintained its bullish trend, increasing its value by 6.50% in the last 24 hours. The altcoin has surged by 16.53% over the past week and 25.37% in the previous month. Significantly, it has provided long-term investors with a year-to-date return of 598.97%.
Furthermore, Kaspa’s Relative Strength Index (RSI) shows a notable uptrend as the token strives to maintain a stronghold in the overbought territory. This upward trend in RSI indicates a rise in the token’s market price action and growing optimism among investors. Moreover, the average remains above the mid-point, indicating a favourable outlook for the KAS coin price shortly.
Given the increasing bullish sentiment, the Kaspa price is poised to retest its critical resistance level at $0.181 this week. Sustaining this level will pave the way for Kaspa (KAS) to advance towards its upper resistance of $0.203, potentially reaching a new yearly high. Analysts have even stated that the token might push for a 15% price increase before the week winds down.
On the flip side, a bearish scenario in which the bears manage to overpower the bulls could see Kaspa lose momentum. This loss of steam could see KAS plummet towards its support level at $0.168. Should the bearish sentiment persist longer, the token might further drop to as low as $0.141.
3. Litecoin (LTC)
Litecoin was designed like Bitcoin to facilitate fast, safe, and affordable transactions. The token leverages the unique features of blockchain technology to ensure decentralized transactions carried out on its platforms. This analogous functionality positions Litecoin as a valuable asset within investors’ portfolios and makes it the top blockchain in the world.
Meanwhile, Coinbase is preparing to introduce cash-settled futures contracts for Litecoin, Bitcoin Cash, and Dogecoin. This initiative is part of Coinbase’s strategy to enhance its global expansion efforts. The move has significantly boosted LTC’s price, indicating growing market acceptance. This announcement led the token to close with a bullish candlestick yesterday, marking approximately 25 out of the last 30 days in the green.
Moreover, Litecoin has emerged as one of today’s top trending coins. Following a strong performance in the past 24 hours, LTC rose by 0.72%, reaching $71.18. This upward movement over the last 24 hours complements gains of over 1552.47% since its launch. The positive momentum has also increased its market capitalization by 1.57% to stand at around $5,301,813,967.
🚨Litecoin is the most active blockchain the world🚨
Continuing to surpass #Bitcoin $BTC and #Ethereum $ETH in authentic active addresses.
Source: @intotheblock Addresses that made one or more on-chain transactions. #Litecoin ⚡️ $LTC pic.twitter.com/XVEd69k4x7— Litecoin (@litecoin) June 26, 2024
Furthermore, Litecoin has experienced a surge in buying pressure over the past 24 hours in response to recent developments. Its trading volume has surged by 1.16% to $264,740,655, indicating a renewed interest and confidence among investors. Concurrently, with a Greed score of 74 and a bullish investment sentiment, there is a growing appetite for the token.
4. Telcoin (TEL)
Telcoin is an innovative project designed to streamline the creation and distribution of user-owned financial products. The platform incorporates telecom channels into its ecosystem to effectively minimize recurrent risks in traditional finance. Also, the project strategically bridges decentralized finance with broader mainstream adoption to provide unique solutions to its users.
Telcoin enhances financial accessibility worldwide by leveraging a global reach spanning over 5 billion mobile users. It facilitates easier access to global finance, benefiting telecom companies and users by optimizing services for speed and cost-effectiveness. Telcoin pioneers user-owned solutions rooted in DeFi principles, surpassing the limitations of traditional banking systems.
Meanwhile, the Telcoin token boasts a market dominance of about 0.02% despite a relatively young market presence. TEL also showcases robust market resilience
with a low volume-to-market cap ratio of 0.0022. Moreover, its track record of 26 green days in the last 30 days and bullish sentiment underscore its promising potential within decentralized finance.
Easily store, send, trade, and hold $TEL and over 100 other #DigitalAssets on the #Telcoin App!
Which token will you #SendMoneySmarter with? pic.twitter.com/7nYE2M7GIV
— Telcoin (@telcoin) June 22, 2024
TEL’s recent value surge of 1% and 9% over the past 24 hours and seven days, respectively, highlights a growing market confidence. Over the last year, it has surged by 74.67% and continues to trade significantly above its 50-day and 200-day Simple Moving Average. Amid liquidity challenges affecting several cryptocurrencies, Telcoin has maintained stability, exhibiting a modest 13% volatility rate over the last seven days.
5. Weiner AI (WAI)
Weiner AI stands out as an innovative project merging AI’s advanced capabilities with the viral appeal of dog memes. The platform incorporates dog-themed elements, including comical sausage meat memes and an AI-powered trading bot. At the time of writing, the token has raised more than $6.4 million in its ongoing presale.
Moreover, the project’s trading bot enables traders to make profitable trading decisions through a user-friendly interface. It does this by equipping them with tools to pinpoint optimal entry and exit points in cryptocurrency trading. Additionally, the platform delivers comprehensive market analysis and valuable tips to enhance users’ profitability.
Meanwhile, holders of WAI tokens can stake their holdings and earn an impressive Annual Percentage Yield (APY) of approximately 261%. The team has allocated 20% of WAI’s total supply to staking, promising substantial returns for stakers before the token’s official launch. Potential investors are encouraged to participate in the presale at its affordable price. However, it’s advised to act promptly as the token’s price is expected to rise soon.
That wiener feeling when you're winning at your trades! 🌭💸
Let our Wiener help you trade smart. WienerAI, where memes meet trading magic! 🤖🚀 pic.twitter.com/XKdeCWN4A0
— WienerAI (@WienerDogAI) June 26, 2024
Thus, Weiner AI sets itself apart from other meme tokens by uniquely blending meme virality with advanced Artificial Intelligence, significantly propelling the project’s initial success. The integration serves as a pivotal catalyst behind its rapid growth. Also, WienerAI’s developers remain dedicated to continually enhancing their AI-powered trading bot, aiming to maximize users’ profitability.
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