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The news of President Biden’s withdrawal from the 2024 presidential race has sparked renewed optimism within the financial market. Particularly, the ripple effect has been felt within different sectors of the crypto market, with tokens like Dogecoin and the new presale Shiba Shootout posting positive returns.
This renewed optimism is also indicated by the increasing Fear and Greed index, which is currently at 64, as buying pressure slowly returns with investors looking for the best cryptocurrencies to invest in right now. Tokens like Bitget Token, Celestia, and Helium present impressive market outlooks. This article offers insight into their market prospects.
Best Cryptocurrencies to Invest in Right Now
The recent recovery phase in the crypto market has highlighted several promising tokens to invest in. Among these tokens, Helium (HNT) has shown significant gains, driven by strong market sentiment and promising future predictions.
Meanwhile, Raydium’s recent integration with Moonpay provides its 20 million users instant access to the Solana ecosystem. Also, Celestia has demonstrated resilience and regained momentum, trading at $6.65, reflecting a 1.32% increase in the past 24 hours.
1. Celestia (TIA)
Celestia offers developers essential infrastructure to build and maintain blockchains. Its modular design provides flexibility, enabling other blockchains to use Celestia for data availability and consensus. This setup forms a strong foundation for decentralized applications, aiming to boost efficiency and security.
Furthermore, the platform is known for separating consensus from execution, enhancing scalability and flexibility in blockchain development. As of the latest data, Celestia’s token is exchanging hands at $6.65, reflecting a 1.32% increase in the past 24 hours.
Moreover, TIA is trading 200,253.32% above its 200-day Simple Moving Average (SMA) of $0.003332. Last week, the token experienced a significant upswing, rising by 8.06%.
The 14-day Relative Strength Index (RSI) is 50.74, indicating that the cryptocurrency is currently neutral and may trade sideways. The coin also maintains high liquidity based on its market capitalization.
2. Bitget Token (BGB)
Bitget Token provides exclusive perks to its holders, including discounts on spot trading fees, free withdrawals, access to token sales or airdrops, and other platform-specific benefits. These incentives encourage users to hold and use BGB, creating a utility-driven ecosystem.
Earlier this month, the platform announced an upgrade to BGB’s smart contract address to enhance the token’s utility and potential. This upgrade enables BGB’s use in various decentralized applications and facilitates future listings on more centralized and decentralized exchanges.
Furthermore, BGB is now available for futures trading with up to 50x leverage. It can be traded on Bitget’s spot and margin markets, used for copy trading, and utilized with trading bots. This enhances the token’s versatility within the Bitget ecosystem. Also, the BGB token has been listed on other major centralized exchanges such as Bitfinex and MEXC.
We're glad to work with @cryptocopyorg to bring our users a better trading experience! 👏 https://t.co/lDnybsUWTX
— Bitget (@bitgetglobal) July 17, 2024
Currently valued at $1.14, BGB has seen a 9.66% increase over the past week. It is trading above the 200-day simple moving average and has experienced 17 green days in the last 30 days.
The 14-day Relative Strength Index (RSI) for BGB stands at 37.70, indicating that the token is currently neutral and may trade sideways. The recent success of BGB can be attributed to its growing adoption, utility within the Bitget ecosystem, and positive market sentiment.
3. Helium (HNT)
As the crypto market recovers, several top coins have shown strong performance. Notably, Helium (HNT) has regained momentum after a period of bearish activity. Recently, it was trading in a downtrend but recovered from a low of $3 this week.
Following this rebound, it crossed a key downward-sloping trendline at $4, marking a significant move on the chart. Furthermore, the price of HNT has surged recently, boosting investor confidence. At the time of writing, the token is trading at $5.0, experiencing an intraday increase of 11.0%.
Moreover, the HNT token’s market sentiment remains optimistic. Also, the fear and greed index records 70, indicating a strong sense of investor confidence. Currently, Helium trades 122.40% above its 200-day Simple Moving Average (SMA). Over the past 30 days, the token recorded 17 green days out of 30, with a price volatility of 12.11%.
Thank you, @beincrypto, for sharing the exciting news! ⚡️@Helium is exploring the energy sector. Within 2 weeks of introducing the ENERGY subnetwork proposal, the @srcful team has demonstrated commendable responsiveness to feedback from the community. 🎈
📰Read the full news:…
— Helium🎈 (@helium) July 18, 2024
Based on its market cap, the coin shows high liquidity. According to Coingecko’s price prediction, HNT is expected to rise by 22.68%, reaching $6.24 by August.
4. Shiba Shootout (SHIBASHOOT)
Shiba Shootout is a mobile game combining a Wild West theme with blockchain technology, allowing players to earn rewards in SHIBASHOOT tokens. Set in the fictional town of Shiba Gulch, players can engage in activities like meme-making duels, poker tournaments, and virtual treasure hunts to earn tokens.
The game has recently released a basic version, with plans to incorporate Web3 features that will enable players to earn SHIBASHOOT tokens while playing. A competitive leaderboard system allows players to gain experience points (XP) through gameplay. Top players can earn bonus SHIBASHOOT tokens and exclusive rewards, encouraging continuous engagement.
In-game transactions and special features utilize SHIBASHOOT tokens. Players can stake these tokens, earning attractive annual percentage yields (APYs) that promote long-term holding. This staking process offers passive income opportunities and helps secure the network.
Despite its potential, Shiba Shootout’s initial coin offering (ICO) remained relatively unknown. The project hit a significant milestone, raising $100,000 on April 17, which they announced on social media platform X. Since then, the SHIBASHOOT presale has raised over $724,000. The presale aims to build a strong community by offering significant benefits to early adopters, such as access to staking rewards and leaderboard bonuses.
Shiba Shootout has a total token supply of 9.4 billion. The funds raised through the presale will support marketing efforts, provide liquidity for decentralized exchanges, and fund ongoing platform development. This allocation ensures the sustained growth and value of the community.
Additionally, the game’s ecosystem includes Cactus Staking, which offers high APYs and Lucky Lasso Lotteries. These features make SHIBASHOOT a unique entry into the play-to-earn sector, blending gaming with blockchain technology and creating diverse opportunities for earning and engaging within the game.
5. Raydium (RAY)
Raydium is making significant strides in the DeFi sector as an advanced automated market maker (AMM) and liquidity provider on the Solana blockchain. Its integration with Serum’s central limit order book sets it apart. By channeling liquidity into Serum’s order books, Raydium enhances liquidity access for users and allows liquidity providers to tap into Serum’s dynamic order flow.
The native RAY token is central to the Raydium ecosystem. Staking RAY enables users to earn protocol fees, secure Initial DEX Offering (IDO) allocations, and participate in governance decisions. Moreover, Raydium leverages Solana’s scalability, encryption, and thorough security audits to provide a secure environment.
Raydium recently announced an integration with Moonpay, which gives its 20 million users instant access to the Solana ecosystem. Users can now buy and sell crypto using major payment methods, including debit and credit cards, Apple Pay, Google Pay, and bank transfers.
Raydium has integrated @moonpay, giving its 20M users instant access to the @solana ecosystem! 🚀
For new users, you can now on-ramp to Solana in seconds. For existing users, you now have off-ramp rails at your fingertips.https://t.co/ouBYKZ06vD
— Raydium (@RaydiumProtocol) July 18, 2024
Furthermore, RAY’s price has surged 29.47% over the past week, highlighting its strong market presence. However, the 14-day Relative Strength Index (RSI) of 72.78 indicates overbought, suggesting a potential price correction. The token has seen 21 green days in the last 30 days.
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