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Our spotlight is on the best altcoins to invest in, but first, let us look at the prevalent sentiment surrounding Bitcoin. The token has failed to maintain a current projected position above $60,00 by the first week of July to trade at around the $57,473 mark. Its recent volatility has plunged the general crypto market into a correction phase.
With the recent turn of events, choosing the right altcoins to invest in is difficult. Investors are constantly searching for the best altcoins to invest in now. This analysis aims to streamline this exploration by presenting a curated list of altcoins with potential substantial returns.
6 Best Altcoins To Invest In
Certain cryptocurrencies are drawing considerable attention as the crypto market develops through their remarkable performance. Today, we spotlight Maker, ConstitutionDAO, Kaspa, and Telcoin. Each of these cryptocurrencies has shown impressive price surges and robust market dynamics.
While analyzing the best altcoins to invest in, we’ve also included a special mention of the Wiener AI and Shiba Shootout presale. At the time of writing, the tokens have raised more than $7.3 million and $616,000, respectively, in their ongoing presale. Potential investors are encouraged to join in their presale at its affordable price of $0.00073 and 0.0195, respectively. However, there is a need to act immediately as WAI’s presale ends on July 31 while Shiba Shootout’s price has been set to increase in 2 days.
1. Maker (MKR)
MakerDAO has recently integrated a Direct Deposit DAI Module (D3M) into Spark’s MetaMorpho Vault, enhancing the decentralized financial system. The integration allows Spark to supply 500 million DAI to Ethena’s USDe and sUSDe markets, which are linked to DAI. This development has contributed to the token’s recent positive performance.
Maker has regained momentum, increasing its value by 4.93% in the last 24 hours after a bearish trend since June. This surge in price is supported by an 11.69% rise in trading volume, demonstrating increased investors’ confidence in the token. Also, the altcoin has gained 8.12% over the past week, reflecting growing bullish sentiment for the MKR price.
Furthermore, the MACD technical indicator shows a rising pattern in its green histogram. Technical analysis suggests that this unique pattern indicates increased buying pressure for Maker in the market. Besides, MKR’s Simple Moving Average (SMA) has achieved a bullish crossover on its 24-hour price chart, indicating a positive prospect for the token this week.
The official Endgame audit contest hosted on @sherlockdefi has started!
With 1,350,000 DAI in rewards, this bug-finding contest will help strengthen the security of Endgame products as Maker approaches Launch Season.
Let the hunt begin. https://t.co/LG25jCRH84
— Maker (@MakerDAO) July 8, 2024
If the general crypto market manages to hang on to its bullish sentiment, MKR is poised to retest its resistance level of $2,529 over the upcoming weekend. This projection is based on the bulls keeping the bears at bay while avoiding profit-taking. Conversely, if a trend reversal occurs, the Maker’s price will likely fall towards its crucial support level of $2,160.
2. Shiba Shootout (SHIBASHOOT)
As an investor thinking of ways to invest in projects that would give you the highest return on investment, you should look into Shiba Shootout. A key highlight of Shiba Shootout is its “Posse Rewards” referral initiative. This scheme motivates users to invite their acquaintances to become part of the community by offering progressively greater rewards for each new member they refer. This approach fosters a cooperative and engaging atmosphere.
“Campfire Story” sessions are informal gatherings where community members exchange their personal experiences and insights about the crypto and memecoin sectors. These sessions foster networking, knowledge sharing, and a robust sense of community among participants. Projects that nurture a dedicated and engaged community frequently achieve higher success rates, as these loyal users become advocates and promoters, thereby boosting adoption and demand for the token.
Additionally, users can win valuable prizes through the “Lucky Lasso Lottery” by staking their Shiba Shootout tokens. This feature creates excitement and promotes active involvement. As more participants engage with the project, aiming to secure notable rewards, the demand for $SHIBASHOOT is anticipated to increase, potentially driving a significant price rise. The token is priced at $0.0195 today; investors should hurry as the price increases in 2 days.
3. Kaspa (KAS)
Kaspa has maintained its bullish trend, increasing its value by 1.50% in the last 24 hours. The altcoin has surged by 4.53% over the past week and 8.37% in the previous month. Significantly, it has provided long-term investors with a year-to-date return of 601.97%.
Furthermore, Kaspa’s Relative Strength Index (RSI) shows a notable uptrend as the token strives to maintain a stronghold in the overbought territory. This upward trend in RSI indicates a rise in the token’s market price action and growing optimism among investors. Moreover, the average remains above the mid-point, indicating a favourable outlook for the KAS coin price shortly.
Given the increasing bullish sentiment, the Kaspa price is poised to retest its critical resistance level at $0.182 this week. Sustaining this level will pave the way for Kaspa (KAS) to advance towards its upper resistance of $0.203, potentially reaching a new yearly high. Analysts have even stated that the token might push for a 15% price increase before the week winds down.
“It is exciting to see the Kaspa ecosystem growing and the symbiosis between different teams working on different aspects thereof….. It comes to show how the ecosystem helps improve the core, and the attentiveness of the core developers to the community, and it is really… https://t.co/mZrq7oPN5e
— Kaspa (@KaspaCurrency) July 11, 2024
On the flip side, a bearish scenario in which the bears manage to overpower the bulls could see Kaspa lose momentum. This loss of steam could see KAS plummet towards its support level at $0.158. Should the bearish sentiment persist longer, the token might further drop to as low as $0.136.
4. Telcoin (TEL)
Telcoin is an innovative project designed to streamline the creation and distribution of user-owned financial products. The platform incorporates telecom channels into its ecosystem to effectively minimize recurrent risks in traditional finance. Also, the project strategically bridges decentralized finance with broader mainstream adoption to provide unique solutions to its users.
Telcoin enhances financial accessibility worldwide by leveraging a global reach spanning over 5 billion mobile users. It facilitates easier access to global finance, benefiting telecom companies and users by optimizing services for speed and cost-effectiveness. Telcoin pioneers user-owned solutions rooted in DeFi principles, surpassing the limitations of traditional banking systems.
Meanwhile, the Telcoin token boasts a market dominance of about 0.02% despite a relatively young market presence. TEL also showcases robust market resilience
with a low volume-to-market cap ratio of 0.0022. Moreover, its track record of 27 green days in the last 30 days and bullish sentiment underscore its promising potential within decentralized finance.
#Telcoin #Remittances can now reach loved ones in #Guinea, #Haiti, and #Zambia!
Download the Telcoin App today and #SendMoneySmarter to a growing list of 37 #MobileMoney platforms and e-wallets across 20 destination countries. https://t.co/V5tn6TWvzv pic.twitter.com/7lvv3ywwuI
— Telcoin (@telcoin) July 9, 2024
TEL’s recent value surge of 1.2% over the past 24 hours highlights a growing market confidence. Over the last year, it has surged by 64.67% and continues to trade significantly above its 50-day and 200-day Simple Moving Average. Amid liquidity challenges affecting several cryptocurrencies, Telcoin has maintained stability, exhibiting a modest 10% volatility rate over the last seven days.
5. Wiener AI (WAI)
Wiener AI distinguishes itself as an innovative project that combines AI’s advanced capabilities with the widespread appeal of dog memes. It features a user-friendly trading bot designed to help traders make profitable decisions. The bot equips users with tools to identify optimal entry and exit points in cryptocurrency trading, ensuring effective and informed trading strategies.
At the time of writing, the token has raised more than $7.3 million in its ongoing presale. Potential investors are encouraged to join in the presale at its affordable price of $0.00073. However, there is a need to act immediately as the presale ends on July 31.
Don't miss out!
WienerAI presale ends on July 31st. Secure your tokens now and join the trading revolution! 🌭🤖 pic.twitter.com/PyYEPwDtl2
— WienerAI (@WienerDogAI) July 10, 2024
Meanwhile, WAI token holders can stake their holdings and earn a remarkable Annual Percentage Yield (APY) of around 154%. The team has reserved 20% of WAI’s total supply for staking, ensuring substantial returns for stakers even before the token’s official launch. Additionally, Wiener AI’s developers are committed to continuously improving their AI-powered trading bot, to optimize profitability for users.
6. ConstitutionDAO (PEOPLE)
ConstitutionDAO was a crowdfunding initiative by web3 enthusiasts aiming to acquire an original copy of the U.S. Constitution at a Sotheby’s auction. Although the bid to secure the document was unsuccessful, the PEOPLE token has since evolved into a decentralized autonomous organization (DAO) with notable historical importance. PEOPLE also serves as the token representing an interest in ConstitutionDAO.
Furthermore, the token’s community-centric strategy has significantly increased its price since its launch. PEOPLE has posted gains of over 9% in the last 24 hours to demonstrate its short-term potential, while a 96% and 600% year-to-date increase demonstrates its long-term potential. Also, the token’s rapid rise in popularity can be attributed to viral marketing campaigns featuring Nicolas Cage memes, prominent exchange listings, and a robust, active community.
ConstitutionDAO is trading near the $0.06043 mark and has consistently sustained its gains over an extended period. The crucial question remains whether the token can maintain its upward trend and reach new highs by the third quarter of 2024. This trajectory is likely if the bulls can maintain a stronghold despite potential selling pressures from the broader cryptocurrency market over time.
Although PEOPLE recently dipped below its $0.09 support level and has faced challenges in surpassing this threshold over the past two days, analysts predict that ConstitutionDAO will rebound and surpass its ATH with the bullish impact of Spot Bitcoin ETFs. Also, the token’s recent performance has further increased its appeal as an investment option.
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