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The cryptocurrency market is still bumpy after the recent Bitcoin slump, with several tokens struggling to bounce back. Bitcoin (BTC) is inching closer to $60,000, hoping to find support for its next big move. Investors need to stay alert during this correction phase as it could be a chance to catch a ride on a rising trend.
Consequently, the recent turn of events has made it difficult to choose the right altcoins to invest in. However, this article makes it easy for investors who are searching for the best altcoins to invest in now. It streamlines this exploration by presenting a curated list of altcoins with potential substantial returns.
6 Best Altcoin to Invest in Now
Jupiter is experiencing an upward trend in the short term, trading over 550% above its launch price. The token also trades 10% higher than the 30-day value at $0.1148. Meanwhile, AKT’s impressive 9% surge in seven days signals a distinct shift in investor sentiment toward the token.
Furthermore, 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 $900,000, indicating significant interest in this novel concept.
1. Jito (JTO)
Jito’s team has made major progress on the development of the “Eigen Layer of Solana” project. The project replicates the success of the Eigen project’s layer solutions. If Jito’s team can successfully perfect the project, it could generate similar excitement and attention, which saw the token’s price go on an insane rally.
Meanwhile, last week, the token recently emerged as the top DeFi protocol on the Solana network. It closed the week with a total volume locked (TVL) of $1.04 billion. This considerable upswing incited a significant explosion in the Jito token price, which rose by 8.5% over the previous week.
Nevertheless, the restaking protocol has yet to gain notable traction. Also, Jito’s recent airdrop has no significant impact on its short-term performance. Over the last 30 days, Jito’s token has seen 17 days of positive price movement, reflecting robust momentum and attraction.
1. Restaking on Solana: A New Chapter
Blockchains have evolved to solve scaling, security, and throughput issues, creating general-purpose networks and application-specific chains.
And now, the natural evolution has arrived: Jito (Re)staking pic.twitter.com/7Ab8lvmXnx
— Jito (@jito_sol) August 6, 2024
The token is trading at $2.53, indicating a 10.89% increase over the previous day and a 230% YTD uptick. Market sentiment toward Jito’s price prediction remains bullish, aligned with a Fear & Greed Index score of 68 (Greed). Moreover, the token boasts high liquidity, as evidenced by its market capitalization.
2. Jupiter (JUP)
Jupiter allows users to swap any token easily. The flexibility and accessibility of this function within the platform enhance its adoption. This integration also streamlines swapping several assets, making it more convenient and cost-effective for Jupiter users.
Furthermore, Jupiter provides essential liquidity infrastructure for the Solana ecosystem. The token has seen a significant rise in its price amid a bullish market for altcoins. Over the last 24 hours, it has experienced a 6.45% increase, bringing its market capitalization to $1.53 billion. This surge in value has positioned JUP’s price at $.8624, with a trading volume of $272.67 million over the last 24 hours.
Meanwhile, the token recently announced an integration with Clone. This collaboration enables users to trade non-native assets on the Solana Blockchain. Tokens such as DOGE, ARB, and OP can be effortlessly traded with minimal fees without bridging these assets.
Analysts are bullish on Jupiter’s price prediction, predicting the token’s value to surge as high as $2 if the current upswing trend continues. Similarly, Jupiter’s key hurdle to scale is overtaking its critical resistance level. If the token breaks through this resistance, the price may skyrocket.
1/🪐 @JupiterExchange Quest | Now Live
Earn Prospera points by swapping for $ISC through Jupiter. Any token. Any amount.
How to begin 👇 🧵 pic.twitter.com/RCa9keo7WJ
— International Stable Currency (@ISC_money) August 7, 2024
Moreover, the JUP token’s price has risen to 305.23% above its 200-day Simple Moving Average (SMA). This considerable increase reflects the heightened interest and trading activity surrounding Jupiter. Investor sentiment towards Jupiter remains optimistic, as evidenced by a Fear & Greed Index reading of 68, indicating a state of greed within the market.
3. PlayDoge (PLAY)
PlayDoge is a play-to-earn (P2E) project that has attracted significant interest because of its nostalgic appeal and immersive gaming. PlayDoge brings back the Tamagotchi memories – a popular virtual pet of the ’90s. Players care for a virtual pet resembling the well-known Doge meme character. For those who grew up in the ’90s, the popular virtual pet Tamagotchi is a fond memory.
In PlayDoge, players are tasked with ensuring their pixelated companions are fed, rested, and entertained. Successfully managing these tasks rewards players with $PLAY tokens, making the game not only enjoyable but also potentially profitable. This is evidenced by the token raising almost $6 million in its ongoing presale.
Prominent crypto analysts have predicted a bullish trend for meme coins, which has further increased the hype around $PLAY. Also, recent trends show that the global video game market could surpass $665 billion soon, further boosting investment in play-to-earn projects. Considering these positive price projections and growing enthusiasm in the crypto market, PlayDoge is firmly positioned as a notable meme token to invest in.
4. Akash Network (AKT)
Akash Network has enjoyed notable developments since March, when it began trading on Coinbase. Shortly after this, the team deployed Llama 3 70B on its network. The project described this model as “the most capable openly available AI model.” it also uploaded its protocol on Mainnet earlier today.
Consequently, Akash Network responded positively to these developments, posting a 9% gain within the last 12 hours. The token trades at $2.5, a 306.6% YTD surge. This increase happened alongside a massive spike in trading volume, which rose by 1,500% to $74.9 million.
The AKT cryptocurrency initially rose by over 6% to $4.0. During this rise, the token converted its significant historical resistance at $4.8 into a strong support level, currently preventing a decrease. The increase in AKT’s value coincided with Upbit announcing the listing of the AKT token, generating significant trading activity and investor interest.
Akash Network’s price surge occurred suddenly, with the token rising from $1.0082 to $3.4. This rapid increase led to a price correction, stabilizing AKT around the $4.09 support level. However, some analysts believe further correction could return the token to previous levels.
$AKT is now available to trade on Uphold, a versatile platform for trading crypto, metals, and stocks with seamless conversions, transparency, and low fees. https://t.co/Hp4occXN3s
— Akash Network (@akashnet_) August 6, 2024
Traders are now examining technical indicators and signals to predict AKT’s future price movements. For instance, the token’s Relative Strength Index (RSI) reached an exceptionally high value of 97.77, indicating overbought conditions. Subsequently, the RSI decreased to 72.95 as of now.
While the declining RSI suggests profit-taking among traders, the wide Bollinger bands present a bullish signal. Traders may opt to buy AKT at its dip, potentially driving its price back up or maintaining it above $5.
5. Mega Dice (DICE)
Mega Dice integrates gaming and cryptocurrency, catering to both gamblers on its platform and holders of its DICE token. Furthermore, Mega Dice has launched a Refer & Earn program. This new program seeks to incentivize users who refer people to Mega Dice with a percentage of whatever they spend on the platform.
Furthermore, DICE has recently raised over $1.6 million and is nearing its $2 million presale target. The token’s price currently stands at $0.0105266. Prospective investors are urged to buy the token before the price increases in approximately four days.
Meanwhile, the team has launched a $2.25 million airdrop campaign divided into three seasons. Season 1 allocates a $750,000 reward pool to active players who wager at least $5,000 within 21 days. Seasons 2 and 3 offer an additional $1.5 million for sustained activity until the DICE token is listed on exchanges.
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— Mega Dice Casino (@megadice) August 7, 2024
obim,
Season 2 recently ended, enabling token holders to earn rewards by staking, receiving daily payouts proportional to the casino’s profits. Mega Dice incentivizes engagement with NFTs for VIP players and offers a 25% referral commission to encourage further participation on the platform.
6. Unus Sed Leo (LEO)
Unus Sed Leo is an innovative project offering unique features such as a cash-back program and limited supply. Since its launch, LEO has been integrated into several platforms. Due to its in-built burning protocol, the token has a low circulating supply. The artificial scarcity ensures the coin enjoys continuous price growth.
Furthermore, the cryptocurrency provides charge savings based on the user’s LEO holdings. Meanwhile, the team remains dedicated to expanding the network’s services. Due to iFinex’s significant market experience, the Unus Sed Leo ecosystem is brimming with leadership and a clear route plan.
The coin has acquired the confidence of investors around the world. Another key factor driving the coin’s expanding user base is its market performance. LEO has maintained a 2% stability since the day kicked off; it trades at $5.79.
Meanwhile, LEO holders are structuring their portfolios ahead of a proposed partnership deal. The token displays robust resilience, with the Fear and Greed Index registering 76. Notably, a whale recently made a massive investment into Kelexo (KLXO), sparking discussion in the crypto space. This new venture pioneers a new use case in an industry worth more than $2.7 trillion.
Learn More
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- SolidProof Audited - playdoge.io
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