Best Crypto to Buy Now August 6 - Sui, SHIBIE, Lido DAO

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‘Best crypto to buy now’ is one of the most searched cryptocurrency related terms in Google, and each day InsideBitcoins lists some options.

With the trend in the market, it is easy to get sucked in the wrong direction. The fact remains that the cryptocurrency landscape is seeing slight variations in investment preference.

The gainers’ list is getting dominated by assets with specific utility. Also, DeFi-related tokens are gathering momentum and returning to the top of the list. Come along as we explore the cryptocurrency market for assets performing at their peak today. Also, discover the reasons behind their performance and potential in the new week.

Global Crypto Market Cap Chart

Best Crypto to Buy Now

Despite the prospects of the crypto market, there’s still a need to prioritize investment goals and personal research. Also, there’s a need only to enter trades that align with strategies that have been adequately backtested. Crypto token presale can also be a viable investment option, especially now that the market is battling to find stability. With that said, what are the best cryptos to buy now?

1. Stellar (XLM)

The market is dumping since Stellar failed to cross the $0.2 mark in mid-July. The rally that took the asset’s price to a 52-week high of $ 0.18 has suddenly vanished, and the price is now back to $0.14.

However, it might stay low for a short time. The probability of XML printing new highs in the latest week is relatively high. Data from its recent price actions point to a protracted gain that might outperform the ones recorded in July.

In its intraday performance, XML has seen an increase of over 4% and is still growing. Furthermore, the crypto’s upward trend has now lasted for 48 hours. The possibility of a more upward trend is high, as seen in its price actions.

Firstly, the asset’s current price is above its 200-day EMA, which signifies that the dump rate is still minimal and holders are willing to accumulate more. Similarly, the recent performance of the token outperforms over 82% of the top cryptos in the market.

With that, the chance that XLM would push into $0.2 is relatively high. Another signal that XLM might be one of the best cryptos to buy now is the RSI, which is currently at 51, making it a neutral trend. The motivation to sell long-term positions is relatively low.

The only downside is that the sell pressure traders who want to take profit in the short-term are taking a toll on the asset. However, the effect would soon die, and the bulls could have a smooth ride to the next high.

2. Sui (SUI)

Besides being a highly volatile asset, SUI might be one of the best cryptos to buy now. The apparent reason stems from its recent price action. Firstly, SUI has been in the green for 15 days out of the last 30.

Even though the token had about 7 days of declining price, there’s been a dramatic reversal in the past few days. Today, the asset’s price has risen, with 24-hour gains of over 4%.

Nonetheless, SUI is currently trading around the $6 resistance. With that, the chance of reaching a higher price is threatened. However, if SUI can break above the $0.6 resistance, it can gallop up to the $0.7 range.

At that point, it’s unsure if SUI has the momentum to push further. The most important thing is to watch how it performs around its current resistance.

With the current move towards liquid staking of its native token, the SUI might be able to prevent early investors from dumping the asset. The current downtrend comes from early investors trying to capitalize on the gains.

👀Oracles are live on Sui – but what does that mean? Let’s dive in:

👉In blockchain, oracles are fundamental utilities that enable smart contracts to connect to systems outside of the chain and execute based on real world data. pic.twitter.com/5V6ALLXYoE

— MystenLabs.sui (@Mysten_Labs) July 28, 2023

The staking move comes with the recent upgrade, allowing token holders to stake their SUI in exchange for a derivative token. Also, other upgrades include the inclusion of oracle in the network.

3. Lido DAO (LDO)

Is LDO the best crypto to buy now? The question can only be answered after looking at the price charts. Today’s chart shows that LDO is up by nearly 2%, putting it on the gainers’ list on CoinMarketCap and other crypto comparison sites.

Besides its price movement, there are also traces of an increase in its trading volume, which has seen an intra-day gain of about 5%. With the price action so far, there might be a likelihood of a better week ahead of LDO.

Also, the Lido DAO platform is fast becoming a leading platform for staking in the crypto industry.

According to the information shared on its official Twitter hand, it saw a boost in its taking activity, especially towards the opening of the new month. Reports from independent reviewers also show that the token outperforms other players in the sectors.

Furthermore, the technical analysis of the LDO chart shows that the token may be headed for new highs. The token has been trading close to the $1.9 resistance zone. A recent wave of rally would push it above the $2.0 range.

However, it is possible to go in the flip direction, breaking the support at the $1.4 – $1.6 range. If the token does not find the rally it needs to break above the resistance, this might be the outcome.

🖥️ Lido on L2

wstETH used on L2s grew by +1.90% over the last week to reach 126,619 wstETH:

Arbitrum: 75,539 wstETH (7d: +3.09%)
Optimism: 46,303 wstETH (7d: +0.17%)
Polygon: 4,777 wstETH (7d:+0.40%) pic.twitter.com/wq8VmH5n5M

— Lido (@LidoFinance) August 1, 2023

Therefore, there is a need to monitor the trend to see how it performs in the coming days. Nonetheless, LDO becomes the best crypto to buy now if it breaks above the resistance.

4. Filecoin (FIL)

Filecoin is best known for its role in decentralized storage services. It is currently the leading platform in its category, with a market share double that of its closest competitor.

Today, the FIL price is pumping at about 3% intraday. The current trend is an apparent deviation from its 7-day trend, which decreased its price from $4.4 to $4.0.

The token is on track and might be the best crypto to buy now. Considering that the token has its RSI much closer to its oversold range.

Nonetheless, there is a need to maintain caution when approaching FIL. The volatility of the token is at its highest. Also, its present price is considerably below its long-term moving averages.

Consequently, the uptrend might only hold for a short time. Accumulators might find reasons to dump as soon as the price rises again. In that light, FIL might be best for a relatively short-term strategy. Above all, FIL should be on investors’ watch lists, especially as the week unfolds.

5. Shibie (SHIBIE)

Presale opportunity is still a viable alternative to the highly volatile open market. What presale does is it increases the chance of making sizable returns and reduces the cost.

Consequently, several successes from investors join crypto presales quite early. Currency, there are several crypto presale opportunities that investors should look into.

💄🐶 $Shibie is all about self-love! She's often found adoring her reflection, preening her fur to perfection. Our crypto diva knows the importance of looking fabulous to look her best at all times for her fans.

Join the #Presale now: https://t.co/0vq6u6DvlA pic.twitter.com/pvwKo49tsC

— Shibie Coin | Live (@ShibieCoin) August 5, 2023

A good example is the Shibie presale, which is gradually progressing toward its softcap. The project models the popular Shiba Inu token’s success and calls on degen investors to join the movement. The presale has raised over $141,218.43 by offering the SHIBIE token at a discount.

However, in two days, the price increased by about 14%. It means that investors who want to participate in the opportunity have limited time to take advantage of the discount. At press time, the SHIBIE is sold for $0.000167.

As soon as the project raises the softcap of $999,999, it goes live on exchanges. With that, investors who got in early can reap multiple times the invested capital.

Its tokenomics are also quite excellent, with 60% available at presale. Another 20% is kept for liquidity. The team also has a skin in the game, with 5% of the total supply reserved for their contribution to the project. The details of token allocation are presented on its presale page.

Visit Shibie presale.