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The crypto market is buzzing with excitement as investors seek cost-effective entry points. The recent surge in activity is partly due to the approval of the Spot Ethereum ETF. The approval has had a ripple effect on the market, causing bullish sentiment among altcoins.
Consequently, investors are now searching for the best altcoin to buy. This article explores the most promising altcoins today. It also offers crucial insights for those looking to capitalize on the current upswing.
5 Best Altcoin to Buy Now
Among the tokens experiencing significant growth are Gorilla Taiko, Bitget, and ConstitutionDAO. Gorilla recently gained attention for its impressive performance blending meme features and real-world use cases. Taiko has witnessed several notable developments despite being launched a few weeks ago.
Furthermore, Mega Dice, a gaming and gambling token, has rapidly gained market popularity since its presale commenced. Mega Dice has raised over $1.4 million, indicating significant interest in this novel concept. This analysis seeks to show why investors are paying attention to the project.
1. Taiko (TAIKO)
Taiko is a permissionless, open-source ZK-Rollup developed to address the Ethereum network’s high transaction fees and scalability issues. The platform features over 100 DeFi, gaming, social, infra, tooling, and other protocols.
The token has witnessed several notable developments despite being launched a few weeks ago. In the 24 hours following the token’s TGE, the trading volume on the DTX soared to $10 million, with TVL accumulated over $7 million. With this TVL, DTX has become the most robust and liquid exchange for trading of the top native assets on Taiko.
Notably, the South Korean cryptocurrency exchange announced plans to support three new trading pairs for Taiko. The developers have also launched the “Trailblazers campaign” to offer exclusive rewards to users who partake. This campaign follows an airdrop where 5% of Taiko’s ICO was distributed to all users.
In the 24 hours following the $Taiko TGE, the trading volume on the DTX soared to $10 million, with TVL accumulated over $7 million, supporting the biggest liquidity pool for $Taiko.
With this TVL, DTX has become the most robust and liquid exchange for trading of the top native… pic.twitter.com/avC4T60dDe
— DTX (@0xDTX) June 6, 2024
The current price of TAIKO is $2.67. Despite a slight dip in the last seven days, the token is up 20% over the previous 48 hours. Recent technical analysis suggests Taiko is trending bullish, with the average 50-day moving average sloping up. This indicates a strong trend in favour of the token.
Meanwhile, the Relative Strength Index is below the 30-70 neutral zone. The RSI indicates that the price is in an oversold zone. This could lead to a potential reversal and a rise in the price of Taiko. Analysts have predicted that Taiko could reach $4.598 by the end of 2024
2. ConstructionDAO (PEOPLE)
ConstitutionDAO is a decentralized autonomous organization that has been attracting investors’ interest since its launch. The project started as a joint venture to purchase a rare copy of the United States of America’s Constitution. This single-focused purpose saw several investors contribute to the cause, giving the token massive exposure even outside of the U.S.
However, during the auction at Sotheby’s, the DAO lost the bid to Keneth Griffin. While Griffin would go on to win the bid at $43.2 million, the DAO quickly cast a vote that decided the token should be discontinued since its objective was not met.
The positive trend in the overall crypto market has rubbed off on ConstitutionDAO, which continues to post positive metrics. It has a bullish market sentiment and an RSI value hovering around the overbought region. The token is predicted to explode if it maintains its current momentum and recaptures its ATH value.
Over the previous 24 hours, the token has seen a 4.57% uptick at a value of $0.1226. It trades above its 50-day and 200-day SMA and has displayed 15 green days in the last 30. Investors considering short-term trades might consider the token.
3. Mega Dice (DICE)
Mega Dice, an established casino, aims to transform GameFi. This token rewards current users and attracts new ones, playing a crucial role in Mega Dice’s gamification plan. Remarkably, Mega Dice plans to become the pioneer in crypto casinos, offering daily rewards based on platform performance.
Solana’s recent blockchain ventures are gaining notice. Among them is Mega Dice (DICE), a gaming and gambling token swiftly gaining popularity since its presale commenced. Mega Dice has raised over $1.4 million, indicating significant interest in this novel concept.
The Mega Dice presale has been remarkably successful thus far. The project has achieved a substantial funding milestone, demonstrating a strong demand for its token. Due to their accessibility and limited availability, people are keen to acquire $DICE tokens.
At present, each $DICE token is priced at $0.075. Those interested can link their wallets and swap SOL, ETH, or BNB for $DICE tokens. Mega Dice has sold 19,966,538 worth of $DICE to date.
$DICE presale has raised $1.4 Million 🚀
Current tier price: 0.075 💰
Current presale target: $2M 💰We're implementing multiple tiered price increases, so make sure to secure your #DICE early! Don't forget, you can now utilize your $DICE directly in our Web and Telegram… pic.twitter.com/VAsI6u27aD
— Mega Dice Casino (@megadice) June 7, 2024
Meanwhile, they have allocated 15% for player airdrops, 15% for liquidity pools, and 15% for the Casino’s $DICE pool. Another 10% will serve as rewards for token stakers, and the remaining 10% is earmarked for marketing and other agreements.
Mega Dice ensures that the presale is inclusive. Post-presale, they aim to list $DICE tokens on decentralised exchanges (DEXs), potentially enhancing their popularity.
4. Gorilla (GORILLA)
GORILLA combines meme virality with significant utility. It uses this unique interaction to build a platform offering an investment opportunity beyond traditional meme tokens. The token was developed by the Bored Ape Yacht Club team, which continues to develop more utilities for the ecosystem.
Gorilla distinguishes itself through an innovative IDO Launchpad. The Launchpad offers strategic advantages to early investors and a DEX swap featuring advanced stop/loss functions to optimize trading experiences. The NFT collection associated with the token aims to rival industry giants like the “Bored Ape Yacht Club,”.
Meanwhile, GORILLA has jumped over 59.57% over the previous month to trade at $0.005187. The recent increase has seen the token erase its downward slope of the previous seven days. In the last 24 hours, a cycle of higher highs and higher lows has been charted for the 4-hour chart. Consequently, a formation of a positive trend line has emerged, indicating more upticks in the coming days.
The token has succeeded in overcoming the resistance level of $0.006388. If it continues to trade above this trendline, it could soon flip the $0.007366 resistance into support. GORILLA could go as high as $0.008531 if the bullish pressure persists.
Furthermore, Gorilla’s 4-hour chart suggests it might keep climbing in the next 12 hours. Also, the Moving Average Convergence Divergence and the RSI are showing bullish signs, which traders have interpreted as a sign. Meanwhile, the RSI is well above 50, which suggests the token still has a lot of bullish strength.
5. Bitget (BGB)
Bitget has launched three consecutive Launchpool promotions, including ZK, DOPE, and ENA. Users can stake BGB or USDT to earn massive rewards that can be redeemed instantly. The announcement helped propel the token’s value into the top gainers.
Recent market trends have caused an uptick in trading volume, causing Bitget to post a 6% increase over the month. The token trades at 134.78% above the 200-day Simple Moving Average (SMA), pegged at $0.36521, indicating its bullish trend. Moreover, the Fear & Greed Index has reduced to 70, aligning with the broader market decline.
BGB has closed with green candlesticks for 20 of 30 days. Furthermore, the token has increased significantly by 157% last year. It outperforms 60% of the top 100 cryptos, including Bitcoin and Ethereum.
🌟 Exciting moments at #GMVN2024 this morning with @bitgetglobal and @BitgetWallet !
🤩🤩 We're thrilled to share some highlights from our booth. Don't miss out on the chance to win amazing rewards – come visit us at the Bitget at Booth G2 today and participate in our… pic.twitter.com/0Ilkzw8WCb
— Bitget Vietnam (@bitgetvietnam) June 7, 2024
Following this upsurge, investors anticipate an upward trajectory for BGB as the token expands its ecosystem. Meanwhile, the next key target for BCG is projected to be $2.20, delivering possible profits within a shorter timeframe.
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