Best Crypto to Buy Now August 4 - GMX, Cowabunga Coin, OKB

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Finding the best crypto to buy right now is a never-ending task, with dozens of tokens launched daily on CEX and DEX platforms.

The crypto market is now paying more attention to assets in other categories. In the past weeks, assets in the DeFi sector have dominated the gainers list. However, since the weekend incident, the trend now favors utility-based projects.

Best Crypto to Buy Now

Getting the highest and best returns in the crypto market results from the perfect combination of strategy and portfolio. The earlier investors pick upbeat assets, the faster they reach their investment goals.

Global Crypto Market Cap Chart

With that said, today’s article includes tokens that are yet to go on the market. Their presale might be an opportunity to own a sizeable chunk of the tokens before making them available to the wider public.

1. GMX (GMX)

How long can GMX sustain its current trend? Today’s crypto gainers’ list on CoinMarketCap and other crypto comparison sites features GMX as one of the biggest gainers. Not only is it seeing a pump in price, but its trading volume is also rising.

Despite the overall drop in the performance of the DeFi sector, GMX is defying the odds. The token has been on the upward trend for most of this year, with a shift of over 24% from its opening price at the beginning of the year. However, GMX often encounters sharp rejection whenever the token tries to break new grounds.

A good example is the uptrend of the previous month that took the asset’s price closer to the $58 resistance zone. However, the token faced a sharp decline, bringing its price down to $51.

Data from its technical analysis shows that the token is nearing its oversold range and would begin to swing into recovery. It is expected that GMX will ride for $56 again over the weekend.

This time the chance of a breakout is very likely. If GMX can break above the $56 mark, it might reach the $60 – $70 range. Hopefully, with its low volatility, the token will attain these prices before the end of the quarter.

Weekly Rewards Info 🔹

$1,189,544.74 collected in the past 7 days

$1,033,475.47 (ARB), $156,069.26 (AVAX), $7,427.37 (GMX-ETH)

To buy and stake $GMX / $GLP: https://t.co/ef4TiHI8KE pic.twitter.com/NOqSXRj6QU

— GMX 🫐 (@GMX_IO) July 28, 2023

Thus, investors should watch the next trend in its RSI, EMAs, and the direction of its price in the coming days. If it holds on to its uptrend, it’s one of the best cryptos to buy now.

2. Shiba Inu (SHIB)

Shiba Inu is on the rise again. Investors are trying to figure out whether it is another bull trap. In the intraday price changes, SHIB saw an increase of about 4% and a pump of over 30% in its trading volume.

The sudden price and trading volume increase is not entirely a bull trap. It is coming in response to the recent Binance announcement. In a post in the early hours of the day, Binance has decided to identify SHIB as collateral for flexible loans.

The assets that can now take SHIB as collateral under this arrangement include AUCTION, PYR, ILV, KNC, YGG, GAS, CELO, and IRIS. Binance also identifies other tokens that will now qualify as collateral. They include COMP, IOTA, RLC, HOT, ENJ, THETA, and IOST.

The arrival of the news instilled fresh confidence in the crypto community as the performance of SHIB responded positively to the update.

Overall, is SHIB the best crypto to buy now? Shiba Inu has made some improvements to its fundamentals, which has placed it above the identity of memecoin. Assets in the Sherium ecosystem are exerting influence in the crypto industry.

Considering the trend on the SHIB chart, SHIB is fast becoming one of the most stable cryptos with a mild volatility rating. The community is trying to expand the asset’s utility so that it goes beyond the degen investment ideology.

Ultimately, a more significant future is ahead of the token. In the meantime, confident investors can buy and hold. The chances are high that SHIB will end Q3 with a much better performance than Q2.

3. XDC Network (XDC)

XDC has experienced the best month ever, with an uptrend that’s pushed its price up by nearly 160% in the last 30 days. At press time, the asset has an intraday gain of 12%. Today’s improvements make it the 20th green day that XDC has had in 30 days.

Invariably it becomes the biggest gainer of the month, outperforming over 93% of the best-performing tokens in the market.

It’s not the first time XDC is ruling the crypto gainers’ lists. The token had 72.07% gains in Q1 and will likely end Q3 with much higher yields. However, its Q2 performance was quite subpar, with a dip of about 25% over its Q1 performance.

XDC can finally make up for its Q2 performance now that its current price is way above its 200-day moving average and is trading closer to the $0.1 rejection zone.

Nonetheless, there is a need to move with intense caution. The price of XDC might encounter a sudden decline in the coming weeks. The drop might push it as far back as $0.6.

Its RSI reading shows that the token is overbought, with a value of 76. Ultimately, some speculative buyers would start dumping the asset in the coming days, resulting in a price decline.

Is it too late to buy XDC? It is getting closer to the peak of its rally. However, there is still time to buy in. The most important line of action is waiting for more response to the $0.9 resistance.

4. OKB (OKB)

As the market shifts away from DeFi assets, attention seems to trend toward utility tokens. For some days, platforms with provable utility have seen a pump in their prices.

OKB, for example, is an intraday pump in its price. The price increase follows the news of OKB’s move to integrate with Bware Labs. The decision puts the platform on a new frontier and might open access to a new category of users.

From #DeFi to #AI, & everything in between, we're continuously making #web3 accessible to all.

Check out who has integrated #OKXWallet most recently👇 pic.twitter.com/k8lHKZiTDR

— OKX (@okx) August 4, 2023

As of today, the price of OKB is up by nearly 7% and might be on its way to setting a new all-time high, which will be the second one for the year. Its trading volume exceeded a 300% increase in the same period. At the pace it’s going, the OKB is one of the best cryptos to buy now, not only for long-term investment goals but for short-term swing.

5. Cowabunga Coin (COWABUNGA)

Cowabunga Coin is one of the latest crypto presales that has hit the community, and the vibe is quite thrilling. The project borrows cues from the Teenage Mutant Ninja Turtles (TMNT) storyline to create a fun atmosphere around its brand.

The aura across its presale page, social media handles, and whitepaper says it all. The project will be an all-out, fun-loving community with profit along the way.

This town needs its own super hero and pizza, so $COWABUNGA is here! #memecoins #pizza pic.twitter.com/8XwbO6eEMJ

— $COWABUNGA Coin | Presale Live Now! (@CowabungaCoin) August 3, 2023

According to the information provided in its white paper, the Cowabunga Coin aims to raise a community inspired by the TMNT series’ storyline. It prioritizes fun, creative energy, and the drive toward shared prosperity.

While the project does not guarantee prosperity, it boasts of a formidable team with the competence and experience to drive the mission to success.

Furthermore, the breakdown of its tokenomics shows that the total supply of the Cowabunga Coin is pegged at 4 billion tokens. Early investors get 1.4 billion of the total supply at a valuation of $500,000.

The small market cap means the token can hit multiple times returns within weeks of its launch, and early investors can see their investment skyrocket. Rug pull is often one of the fears of early investors, especially during the presale.

The platform sets aside about 10% of the total supply of COWABUNGA for partnerships and industry influence. What it means is that the project has a long-term view. Also, there are other plans in place aimed at strengthening the token.

With robust tokenomics, the engagement of the community, and the commitment of the team, the Cowabunga coin may become the next big name in crypto.

Visit the Cowabunga presale.