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The market is showing signs of bullishness as the cryptocurrency sector approaches more favorable periods in August and September. The recent shift in the fear and greed index toward greed indicates increased investor confidence, although it’s uncertain whether this trend will sustain.
Various cryptocurrencies are gaining traction, with analysts pointing out several promising coins that could perform well in the upcoming weeks and months. As market sentiment continues to evolve, investors remain cautious but hopeful for a continuation of this positive momentum.
This article features a list of the five best cryptocurrencies to consider buying right now, as the market sentiment shifts towards a bullish trend.
Toncoin (TON)
Toncoin has demonstrated remarkable growth and potential within the crypto market. Originally launched in 2021, Toncoin’s market cap experienced a significant dip but rebounded impressively as the Telegram ecosystem integrated with decentralized applications (dApps).
By early 2024, $TON’s market capitalization surged from $7 billion to over $20 billion, reflecting a strong recovery. Despite this impressive rebound, Toncoin is currently navigating some economic challenges related to token supply and market cap dynamics.
The coin’s recent developments include the upcoming launch of ‘Ton Teleport Bitcoin,’ a bridge that will enable Bitcoin transfers via the Ton network. This innovation is expected to enhance security and reduce transaction costs, further boosting Toncoin’s utility and value.
With its solid foundational support and innovative features, $TON is poised for potential growth, possibly reaching a market cap between $40 billion and $60 billion in the future. As of now, the coin has shown resilience and consolidation, making it a notable candidate for consideration in the evolving crypto market.
cat in a dogs world (MEW)
cat in a dogs world is an intriguing meme coin that’s gaining attention. Despite the whimsical name, this Solana-based project has a low market cap of around $700 million, suggesting significant growth potential. It recently demonstrated a strong recovery, which implies that it might perform well during the upcoming bull run.
The $MEW token mechanics include a total supply of 88.8 billion, with 90% burned in LP and a 10% airdrop to the Solana community. This deflationary aspect, along with solid performance on the charts, indicates promising future prospects.
The price has recently shown impressive upward movement, and if the trend continues, $MEW might hit new all-time highs. Its presence on several exchanges and dedicated community support contribute to its potential for further growth.
Pepe Unchained (PEPU)
Pepe Unchained is currently in its presale phase, having raised over $5.4 million. Unlike typical meme coins, Pepe Unchained offers genuine utility and scalability. This pioneering project is set to reshape the crypto industry by integrating Layer 2 (L2) blockchain technology with the popular charm of meme coins.
Layer 2 networks offload transactions from the congested Ethereum mainnet, providing cheaper and faster transactions while maintaining Ethereum’s solid decentralization and security. Pepe Unchained leverages these benefits, promising transaction speeds up to 100 times faster than Ethereum.
Pepe Unchained raises $5M in in just weeks!
Thanks to your amazing support, Pepe's blockchain journey is just beginning 🐸🧠 pic.twitter.com/fnPbr0s1Pw
— Pepe Unchained (@pepe_unchained) July 23, 2024
Additionally, Pepe Unchained offers exceptionally high staking rewards, with current annual percentage yields at 536% and nearly 300 million $PEPU tokens already staked. Pepe Unchained is currently conducting a presale for its native token, $PEPU, priced at $0.0086649. However, this price is set to increase in less than 48 hours.
Out of the total supply of 8 billion tokens, 20% is allocated for the presale, 30% for staking rewards, 20% for marketing incentives, 10% for liquidity, 10% for project finance, and 10% for chain inventory.
Following the presale, $PEPU will be listed on decentralized exchanges (DEXs), where its price will be determined by market supply and demand. With a notable increase in funding and positive social media buzz, Pepe Unchained is aiming to leverage its early-stage advantages for a potential surge in value.
Ethereum (ETH)
Ethereum is expected to make significant strides in the current bull market. Despite its recent high of $3,500, $ETH has yet to reach its previous all-time high of $4,600 from the last cycle. The crypto market has been heavily focused on Bitcoin, with Bitcoin ETFs and halving news dominating the headlines.
However, Ethereum remains a major player with substantial growth potential. Currently, Ethereum is trading around $3,200, with a market cap of $392 billion.
It is noted for its strong consolidation at $2,700, which is seen as a solid support level. Analysts are optimistic that $ETH could surge to between $5,000 and $6,300, potentially reaching new highs.
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PlayDoge (PLAY)
PlayDoge is a fresh addition to the crypto landscape, drawing on nostalgic elements like Tamagotchi. It positions itself as a play-to-earn (P2E) meme coin, merging fun, vibrant themes with the expanding trend of gamified cryptocurrencies.
The project has successfully raised $5.85 million to date and plans to increase its price as it approaches its $6.4 million fundraising target. PlayDoge integrates utilities within its forthcoming mobile game, set to launch on both Google Play and the Apple App Store.
This game features a virtual Shiba Inu pet, reminiscent of Tamagotchi from the 90s, which players can care for to earn $PLAY tokens. By tending to their virtual pet, players can accumulate significant amounts of $PLAY tokens, which can be exchanged for other cryptocurrencies or staked for passive income.
Source – PlayDoge Twitter
The staking system of PlayDoge offers estimated annual yields of 81%. Investor interest is evident, with over 231 million $PLAY tokens staked since the presale began. This blend of nostalgia and modern technology is poised to attract a wide audience.
Additionally, PlayDoge developers have sought to build trust by having the project’s smart contracts audited by SolidProof. Combining engaging visuals with community incentives, PlayDoge presents an appealing option for those interested in playful, meme-inspired investments. To take part in the $PLAY token presale visit playdoge.io.
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