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Today’s market dynamics reflect a blend of enthusiasm and caution. Sentiments remain notably neutral, with a total trading volume surpassing $81.2 billion in the last 24 hours. This is indicated by the crypto Fear & Greed Index registering a reading of 56, firmly in the “Neutral” territory.
A select few cryptocurrencies have delivered substantial returns to investors. Others have, however, seen their market value decrease significantly. This article looks at some altcoins that are currently worth considering.
6 Best Altcoin to Buy Now
Some altcoins experiencing notable upswings are Dogwifnohat, Kendu Inu, Cardano, StarkNet, and Merlin Chain. Since its launch, Merlin Chain has seen explosive growth, accumulating over $3.8 billion in TVL. This move has seen analysts suggest an upward price movement might be on the horizon.
Meanwhile, 99Bitcoin’s timing allows investors to participate in a potential meme coin rally. It particularly favors investors who missed out on earlier meme coin booms. Early investors can join a wagon that may see the token push to a nearly 500% uptick.
1. Kendu Inu (KENDU)
Kendu Inu was developed to create a secure and inclusive cryptocurrency ecosystem. The project’s core principle revolves around fostering a strong and unified community. This focus on community and security makes it appealing to investors seeking a reliable and trustworthy digital asset.
The token has been making waves recently. It experienced a significant explosion of over 230% in the past week. This surge is due to its popularity and the recent announcement of a partnership deal.
Meanwhile, KENDU currently hovers around the $0.0001702 mark, indicating an almost 5% and 40% increase over the last 48 and 72 hours, respectively. This bullish momentum has attracted significant trading volume, exceeding $13 million over the previous 24 hours. The 125% surge in trading volume is a positive indicator, signifying increased market participation and further price increases.
Furthermore, Kendu Inu’s 50-day and 200-day moving averages are trending upwards. This moving average suggests that the token could continue to experience high buying pressure.
However, the RSI currently swings in the mid-range, signifying neither overbought nor oversold territory, which could indicate the possibility of continued price movement in either direction.
🔈 Listing Soon
🐯 @KenduInu ($KENDU) is joining ProBit Global soon!
👉 Tune in to ProBit Global: https://t.co/Nh1wr5EnLa#NewListing #ProBitGlobal #Kendu #Web3 pic.twitter.com/cHkaSMZNrE
— ProBit Global (@ProBit_Exchange) June 17, 2024
While historical data is limited due to Kendu Inu’s recent launch, potential support levels could lie around the $0.00018 mark. It could also experience a resistance level near the recent highs of $0.0003. Analysts have, however, predicted that the KENDU could shed another zero before the end of June to trade at $0.008.
2. Merlin Chain (MERL)
Merlin Chain is the largest Bitcoin Layer 2 protocol by total value locked (TVL). The project is committed to empowering Bitcoin’s native assets, protocols, and products on Layer1 through its Layer2 network to Make Bitcoin Fun Again. It incorporates the ZK-Rollup network, decentralized oracle network, and on-chain BTC fraud-proof modules into its ecosystem.
Since its launch, Merlin Chain has seen explosive growth, accumulating over $3.8 billion in TVL. The team behind Merlin, Bitmap Tech, is a premier OG team boasting an overall market cap exceeding $500 million. This formidable team built an active platform with over 200 native DApps.
Despite losing steam in the last 24 hours, the token is trading 36% above its 72-hour price. MERL trades 57% above its 200-day Simple Moving Average. Furthermore, the bulls are in charge, while a Fear and Greed Index of 78 signifies that the token will soon recapture its ATH.
Meanwhile, the recent launch of Merlin Chains’s native token, $MERL, is a significant development for the Bitcoin network. This has enabled the rapid growth of decentralized applications (DApps) across various sectors, including decentralized finance (DeFi), gaming, and social platforms. Also, The BRC-420 “Blue Box” collection under Bitmap Tech has become one of the hottest assets on Ordinals.
@MerlinLayer2's L2 is merging Bitcoin's security into its chain via our staking protocol. Merlin users can stake native BTC, extending Bitcoin's PoW consensus to bolster security of networks/chains in their ecosystem.
8/11 pic.twitter.com/xfGzxiPp9E
— Babylon (@babylon_chain) June 17, 2024
This comes after the recent listing of the new token on multiple crypto exchanges. As a BRC-20 token, $MERL is the third of its kind to be featured on OKX and Hashkey Global. Others are Bitget, Gate.io, Kucoin, WOO X, ByBit and BingX
This expansion into various major exchanges underscores Merlin Chain’s robust growth. It also demonstrated the community’s strong support, which has been instrumental in Merlin Chain’s development. Therefore, investors looking to invest in innovative Layer 2 solutions could consider MERL.
3. Cardano (ADA)
In terms of blockchain metrics, Cardano has displayed a remarkable upswing. It witnessed a total transaction exceeding 97 million and native tokens surpassing 15 million. Notably, the Cardano blockchain has hosted over 170 projects to date, reflecting its expanding ecosystem and development activity.
Meanwhile, Cardano’s Lace project has been upgraded to version 1.12. The new version includes notable enhancements and features allowing users to fund their wallets with fiat currencies. Concurrently, the team has also upgraded Plutus to version 1.29.0.0. Also, the Mithril team achieved milestones in certifying Cardano transactions within the Mithril network.
Cardano has witnessed an 82% price increase in the past year, with market indicators pointing towards potential further increases. This uptick builds on its post-launch value with a significant increase of over 1882.47%. This recent growth demonstrates the cryptocurrency’s inherent volatility in the market.
#Daedalus version 5.4.0 autoupdate has been released! Please note the update will take one to two days!! @IOHK_Charles @InputOutputHK @ATADA_Stakepool @RichardMcCrackn @amw7 @khstandrews pic.twitter.com/mbqTeTpg5B
— ONYX Stake Pool, LLC (@onyxstakepool) June 14, 2024
An analysis of Cardano’s daily chart has shown critical indicators pointing towards a potential continuation of the upsurge. The MACD indicator displays a bullish crossover. These indicators suggest growing momentum and a bullish signal for the ADA token.
In summary, despite ADA’s fluctuating price, its market trends and technical analysis demonstrate its resilience. Moreover, Cardano’s development measures are progressing, indicating the project’s expanding ecosystem. Investors can keep a close tab on the token in the coming days to get massive ROI.
4. Dogwifnohat (NOHAT)
Dogwifnohat is a meme token built on the Solana blockchain to change the “tokens with hat” narrative. Despite being launched less than a month ago, NOHAT’s price actions and chart pattern demonstrate its potential to deliver massive ROI. This is strengthened by a recent announcement about its integration with an unnamed decentralized app.
Meanwhile, NOHAT has formed a symmetrical triangle that resembles converging trendlines. Historically, this often precedes a breakout in the direction of the dominant trend. A decisive break above this line signifies a surge in buying pressure and a potential catalyst for substantial price appreciation.
The Relative Strength Index (RSI) sits comfortably below 70, indicating that the token is not yet in overbought territory.
This shows there is room for massive growth before a potential correction. Furthermore, the recent uptick in RSI signifies increasing buying pressure. Following this, NOHAT could experience a price breakout that could propel it to break its previous ATH of $0.3 set in May.
🐶 $NOHAT Under $2.5M A STEAL🐶
📉Interactions DOWN -5.5%
📈Posts w/ Interactions UP +81.8%
📈Price UP +5.5%@nohatsolana is severely undervalued plain and simple. There is no way a project with this much engagement and the backing of someone like @Dior100x should be sitting at… pic.twitter.com/hLvNvfek6p— Sōka_Data 📐 (@Soka_Data) June 10, 2024
The token is priced at $0.002017, indicating a 5% increase in the last 24 hours. While the token’s primary appeal lies in its strong technical indicators and potential for near-term growth, the possibility of dApp integration adds a layer of long-term investment appeal.
5. 99Bitcoins (99BTC)
99Bitcoins continues to attract attention for its built-in staking protocol. It also offers a yield of 1,140% per year and has been fully audited by SolidProof. As the presale continues, the potential for 99Bitcoins looks promising. The approval of spot ETH ETFs in the US could drive capital into the crypto market, boosting demand for tokens like 99BTC.
Moreover, the project has raised over $2.2 million in its ongoing presale. Its innovative “Learn-to-Earn” strategy is aimed at transforming crypto education. Rather than passively absorbing content, users will engage with courses. These courses will include quizzes and interactive tutorials to earn 99BTC tokens, providing financial incentives for learning.
Meanwhile, the gamified Learn-to-Earn feature is just the beginning for 99Bitcoins Token. Its developers have announced plans to migrate 99BTC from the ERC-20 chain to the BRC-20 chain. This strategic move aims to create a cross-chain bridge protocol for the project.
🎉 Exciting milestone alert! 🎉
We have now raised over $2.2 MILLION in our $99BTC presale! 🚀
Secure your spot now before the #Presale price increases! 👀
Don’t miss out—get started today!
👉 https://t.co/NXD7DAamqr#99Bitcoins #BTC #Crypto #L2E pic.twitter.com/xQC6lg0euI— 99Bitcoins (@99BitcoinsHQ) June 17, 2024
Furthermore, this transition could position 99Bitcoins as a disruptive force in crypto. It will also ensure it attracts significant attention from Bitcoin maximalists. The project’s $99,999 BTC airdrop campaign has also fueled presale excitement, with 99 early adopters set to share in the prize pool.
6. StarkNet (STRK)
StarkNet is a permissionless decentralized Validity-Rollup operating as an L2 network on Ethereum. The project enables dApps to achieve unlimited computation scale without compromising Ethereum’s composability and security, making Starknet a secure and scalable cryptographic-proof system.
Starknet’s current market analysis indicates a positive trend marked by significant gains over recent months. The token’s value oscillates near resistance levels, and key averages point upwards as the sentiment remains bullish. The RSI and recent price rises signal sustained interest and confidence. Therefore, investors may see increased trading volumes, suggesting optimism about the coin’s future performance.
Meanwhile, the upcoming “token unlocks” for several Layer 2 blockchain projects could see the time surge 3x. Among the highlighted projects, Starknet unlocked $64 Million STRK cryptos, worth around $83.8 Million, on June 15, 2024. This event is expected to bring significant activity and volatility to the token.
STRK has been in a consolidation box, which appears to have breached the wedge with a bullish slide move in the box.
This indicates that the bulls hold the key support of $1.00, and bears are desperately trying to breach it. However, bears are not strong enough to break the support level of $0.99. This could be a major sign of a resurgence.
Here is an example of a project currently being built during this hackathon: @RaizeClub, a new Prediction market 👇https://t.co/cp9xKCFVw0
— Starknet 🐺🐱 (@Starknet) June 17, 2024
However, if Starknet maintains its recent momentum, the price could move towards the $1.27 mark on the daily chart. This could trigger a strong bullish spike out of this consolidation box.
The price of STRK experienced a bull run, followed by a decline and a period of consolidation. Analysts are optimistic about the potential for a bullish spike in the price, with a target of reaching $1.67. Currently, the price is at $0.8574, and indicators suggest a neutral position due to consolidation, with the potential for a bounce back if demand increases abruptly.
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