Join Our Telegram channel to stay up to date on breaking news coverage
The volatile world of cryptocurrency has left several investors burned, leaving them only to look on as their hard-earned money evaporates in unexpected market events. Many are currently experiencing the gut-wrenching sensation of seeing their portfolio take a massive plunge today. This has left newbies wondering if crypto is nothing more than a high-risk gambling. However, few investors are thinking of how to profitably invest in altcoins when the market seems to change without warning.
To answer this, our team of experts at Insidebitcoins has compiled a list of 6 best altcoins to invest in today that could help investors and traders identify tokens that will yield high returns on investment. We have also detailed two presale tokens that could offer early investors over 100x profit upon launch.
6 Best Altcoins To Invest In Today
As it turns out, Celestia and Render are some of the few tokens that could multiply investors’ portfolios 10-fold. Despite a general bearish market day, they have all posted significant gains between 3% and 10%. This article analyses tokens and the factors driving their positive performances.
While the token mentioned above may have more potential in the long term, investors can capitalize on Base Dawgz’s short and long-term prospects. Also, PlayDoge’s presale performance has been nothing short of impressive. This has prompted popular YouTube crypto analyst Jacob Bury to emphasize its potential for over 100x gains upon launch.
1. PlayDoge (PLAY)
PlayDoge’s presale performance has been nothing short of impressive, with the token currently priced at $0.00525. Originally launched on the BNB Smart Chain, the token has, however, been bridged to the Ethereum blockchain, providing investors with the choice between BSC’s low fees and Ethereum’s decentralization.
This strategic move has been well-received, pushing the total presale past the $5.9 million mark. It also positions the presale token for potential listing on major exchanges like Binance. Stakers get an APY of 135%, although this rate has been structured to reduce as more tokens are staked. The fact that over 138 million $PLAY tokens have already been staked shows a strong community interest and active participation in the project.
Another standout feature why investors should consider PlayDoge is its play-to-earn (P2E) game, which adds a nostalgic twist to the meme coin market. The game, which is inspired by the 1990s virtual pet Tamagotchi, enables users to nurture their digital pets by ensuring they are fed, rested, and entertained. Players, in turn, earn $PLAY tokens as a reward for their care.
Furthermore, users can take care of their virtual pets on their smartphones as the game is available for download on both Apple and Google Play stores. Also, PlayDoge’s community engagement strategy uses a share-to-earn that rewards users for posting about the project on their social media pages. Participants are rewarded with points that can be exchanged for $PLAY to foster an active community.
The combination of PlayDoge’s innovative P2E model, strategic marketing, and explosive presale performance makes it a formidable “player” in the crypto market. Analysts and commentators, including popular YouTube crypto analyst Jacob Bury, have emphasized PlayDoge’s potential for 100x gains upon launch.
2. Avalanche (AVAX)
Avalanche is an L1 blockchain protocol built to improve blockchain decentralization, scalability, and security. It features several interoperable blockchains: the Exchange Chain (X-Chain) for asset creation and exchange. Also, it features a Contract Chain (C-chain) for smart contracts and DApps. Its Platform Chain (P-chain) assists in coordinating validators and creating subnets.
The project’s innovative platform and consensus features enable it to process around 6,500 transactions per second. It processes this massive number of transactions without losing scalability, security, or decentralization. Meanwhile, its native token can be staked while serving as the base unit of account.
Furthermore, the project ensures security by leveraging a DAG consensus protocol. Its subnets allow users to customize blockchains. These blockchains can be tailored to support both public and private deployments. Also, Avalanche’s high throughput and flexibility continue to attract developers and enterprises seeking scalable and efficient blockchain solutions.
Thank you, Abuja!💛🇳🇬
🍾We had an amazing time hosting the LBank Blockchain Konnect 2024 in collaboration with @avax!
🎉 From inspiring keynote speeches to rewarding our incredible community, it was a day full of energy and innovation.
Huge thanks to all the students,… pic.twitter.com/GxfzbOCQJN
— LBank.com (@LBank_Exchange) July 31, 2024
Moreover, the token has posted a 91.17% increase over the last year to trade at $23.94. This increase is supported by a high volume-to-market cap ratio, indicating strong short-term potential. Also, an RSI of 73.86 implies it has entered the overbought zone, suggesting a price correction.
3. Xai (XAI)
Xai (XAI) has been making significant strides recently due to its high trading activity and considerable market capitalization. The token’s remarkable rise can be attributed to its unique features and the expanding support from its community. Currently, the token has been touted to be a high-growth asset within the altcoin sector, capturing the interest of both traders and analysts.
Recent market data indicates that XAI is gaining positive momentum despite fluctuations typical of a growing asset. The token’s historical highs and lows reflect a resilient market presence, and current trading activities show strong community and investor engagement. Projections for the token suggest it may smash the $2 price before 2024 ends. This forecast is fueled by the token’s swift market adoption rate and strategic developments around the token.
Meanwhile, XAI is experiencing a positive market sentiment despite fluctuating market volatility. Currently, the token is trading at $0.2631. The nearest levels of support and resistance suggest it will soon grow further. Although XAI’s short-term indicators are neutral, its long-term development is remarkable.
The Lost Glitches open beta begins August 15th.
To celebrate, they're giving away 5000 credits to 5 members of the @XAI_GAMES community.
⚡️Follow @TheLostGlitches
⚡️Like & Retweet this post
⚡️Tag 3 friends in the comments pic.twitter.com/5Gvv9I2hjx— XAI 🎮⛓️ (@XAI_GAMES) August 2, 2024
Consequently, Xai’s future appears promising due to its robust market fundamentals and innovative approach. The token’s capacity to sustain and expand its market capitalization, along with strategic developments and active community engagement, demonstrates its long-term prospects. Nevertheless, market volatility and external economic factors could influence its growth trajectory.
4. Base Dwagz (DWAGZ)
While coins like Render, Xai, Avalanche, and Celestia may have less potential in the short term, investors capitalize on Base Dawgz’s short and long-term prospects. The unique viral presale token has formally launched its staking campaign, signifying that token holders can start earning immediately.
Furthermore, Base Dawgz’s staking event follows on the heels of its astonishing presale performance, which has seen it raise over $2.8 million in just a few weeks. Analysts are confident that Base Dawgz is Base’s next top meme coin. The token has been predicted to leapfrog Brett easily; Base Dawgz saw its presale price soar, while Brett’s investors could only watch as it lost over 20% of its value this week alone.
Although the presale price of $DAWGZ has risen from $0.00479 to $0.007061, yet, Base Dawgz continues to smash through successive price stage targets effortlessly. Investors are encouraged to seize the current opportunity to participate in the presale as another price increase is scheduled in less than six days. The combination of all these unique features and reward systems is why YouTuber and analyst Jacob Crypto Bury believes DAWGZ could mint the next wave of millionaires.
Meanwhile, investors who have bought and staked their tokens will get their staking rewards 24 hours after staking goes live. Apart from staking, investors can also earn extra $DAWGZ tokens through Base Dawgz’s social rewards program. This initiative enables community members to receive points by sharing memes and posts related to Base Dawgz on their social media profiles. After the presale ends, the points can be redeemed for $DAWGZ tokens.
5. Celestia (TIA)
Recent investigations have revealed an increasing interest in modular blockchains, strengthening Celestia’s attractiveness. Prominent analysts have predicted an 89% surge in open interest on Bybit, pointing to substantial trading activity in TIA perpetual futures contracts. Further investigation also highlights the fast growth stages of modular blockchain development, which have the potential to drive wider user adoption and promote advanced developer capabilities.
Meanwhile, Celestia has seen a notable rise of 7% in the last seven days, with its price reaching $5.32 The nearest resistance level for the token stands at $6. A breakthrough beyond this threshold could propel TIA toward $7.49. This surge is primarily attributed to the optimistic sentiment among traders and heightened market activity. Investors are increasingly buying TIA, recognizing its promising potential in the modular blockchain sector.
Furthermore, the 50-day moving average has edged above the 200-day average, indicating potential upward momentum—moreover, the 14-day Relative Strength Index (RSI) of 60.85 signals ongoing buying interest. Despite the recent price dip, TIA remains approximately 72%% above its YTD value.
run a light node in your browser in 15 seconds
run one yourself @ https://t.co/IRQ3WG6u4v https://t.co/4b2SVirzLn pic.twitter.com/copvtux9um
— Josh Stein 🤳✨ (@JoshCStein) August 2, 2024
However, a substantial decline alongside robust project fundamentals has prompted some traders to forecast a potential market reversal. Analysts speculate that if the broader crypto market shows resilience, TIA could sustain its upward trajectory. However, if recent development developments are anything to go by, the token might soon set a new ATH this month.
6. Render (RNDR)
One of the beneficiaries of advancements in artificial intelligence (AI) technology is Render, often referred to as the ‘Nvidia of crypto.’ Recently, RNDR’s technical analysis has posted a “buy now” signal to investors. This demonstrates the token’s significant potential for continued price growth in the coming days and weeks.
Currently, the Render token is exchanging hands at $5.13, reflecting a trading activity spike of 5%. The chart indicates a cumulative surge of almost 700% since its launch. With favorable market movements, Render tokens can reach a maximum price of $16.68 this year. Increased investor interest in the project could also propel RNDR Token prices to post a new ATH in 2024.
Moreover, as its RSI hovers around 40 and a MACD close to zero, there is potential for bulls to dominate over weakening bearish sentiment. This scenario could send RNDR’s price into an upward spin. Investors looking to break into the upcoming price rally can monitor these resistance levels closely to get the perfect entry point.
Grant recipient and 3D Motion Designer Avner Engler was able to push the boundaries of visualisation by incorporating photon tracing for accurate and realistic caustics for this exquisite diamond ring sequence.
Rendered in a couple of minutes on the @rendernetwork instead of 12… pic.twitter.com/uO4vl8TU7Z
— The Render Network (@rendernetwork) August 2, 2024
Overall, RNDR is displaying promising indicators of a potential bull run. Currently trading between $5.03 and $5.15, it has recently experienced a daily increase of just over 3%. The nearest resistance is positioned at $5.9; surpassing this level could propel RNDR toward $6.06.
Learn More
Join Our Telegram channel to stay up to date on breaking news coverage
