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The crypto market is on the verge of a long-anticipated altcoin season, presenting a good opportunity to consider adding altcoins to your portfolio. According to the Altcoin Season Index, altcoins have begun outperforming Bitcoin this month. This suggests that a strong altcoin rally may be on the horizon.
As a result, investors are looking for altcoins with growth potential to increase their returns. This article highlights some of the top cryptocurrencies to invest in right now with growth potential that investors might want to explore, aiming for possible gains during this period of heightened market activity.
Top Cryptocurrencies to Invest in Now
Flare’s price recently surged by about 5%, standing out as it outperforms other cryptocurrencies, which are currently seeing declines. Similarly, Pepe Coin has shown strong price activity, with a significant rise of over 40% this week. In addition, PEPU has raised more than $17 million, highlighting substantial investor interest due to its unique use case as a meme coin with its own Layer-2 blockchain.
1. Flare (FLR)
Flare is an EVM-based layer 1 blockchain designed to make blockchain technology more useful by providing developers with decentralized access to reliable data from other blockchains and the internet. This allows developers to create decentralized applications (dApps) that can interact with multiple blockchains through a single deployment, enabling new possibilities for use cases and monetization.
Recently, Flare’s price has surged by around 5%, drawing attention as it outperforms other cryptocurrencies that are currently declining. The token’s price increased from $0.0149 to a high of $0.0178 before settling at around $0.016. This price rise boosted its market capitalization to about $770 million.
A significant increase in trading volume has accompanied this upswing, with more than $38 million worth of the token traded, representing a 365.61% jump in activity. Over the past 30 days, FLR has had 16 positive trading days, suggesting relatively high liquidity based on its market cap.
The call for decentralization is back.
From the very beginning, Flare has been built on this ethos, providing data in the most decentralized way possible to builders and users.
This commitment will drive us to outlast others in our pursuit of a truly decentralized system…
— Flare ☀️ (@FlareNetworks) October 2, 2024
Furthermore, Flare’s recent price movement is likely tied to its efforts to expand both its technological capabilities and strategic reach. The network has committed to reinvesting 50% of its FLR token sales back into the ecosystem, with funds directed toward enhancing key network functions such as lending protocols and decentralized exchanges. This reinvestment aims to increase the utility and overall value of the FLR token, helping to support sustainable growth.
2. Pepe Unchained (PEPU)
Pepe Unchained has gained significant attention as one of the more notable meme coin Initial Coin Offerings (ICOs) this year. Its rise in popularity is linked to its position as the first Pepe-inspired meme coin to introduce its blockchain.
The project builds on the momentum of its predecessor, Pepe, while introducing a key innovation: the “Pepe Chain.” This native blockchain functions as a Layer-2 solution designed to enhance both scalability and cost-efficiency compared to larger networks like Ethereum. The Layer-2 approach allows for more efficient transaction processing, addressing common issues found in older blockchain networks, such as high fees and slower processing times.
Moreover, the primary problem that Pepe Unchained seeks to resolve is the elevated transaction fees that affected previous meme coin projects, including its predecessor. By implementing its Layer-2 blockchain, it aims to lower costs for users while offering a more streamlined network for transactions.
The Breaker of Chains strikes again!
$17M raised 🏗️ pic.twitter.com/dTpGIkooRO
— Pepe Unchained (@pepe_unchained) October 2, 2024
Furthermore, PEPU has raised over $17 million, reflecting notable investor interest in its unique use case as a meme coin with its own Layer-2 blockchain. Currently, PEPU tokens are available at $0.00991, with the price expected to rise soon. The limited timeframe before the next price adjustment creates a sense of urgency for those looking to invest.
3. eCash (XEC)
eCash has recently experienced a notable price increase, rising by 0.96% in the last 24 hours to $0.00003437. Its current market cap stands at $67 million, placing it 89th among cryptocurrencies by market capitalization. Key price support is observed at $0.00003379 and $0.000035, which may help stabilize the asset if the current rally slows down.
In addition, market sentiment for eCash appears bullish despite the Fear & Greed Index showing a score of 37, indicating a level of fear in the market. Over the past year, eCash has seen a price increase of 38%. It is currently trading above the 200-day simple moving average, which typically signals a positive long-term trend.
The 14-day Relative Strength Index (RSI) is 28.36, which suggests that the asset is oversold, a condition that could indicate an upcoming price rebound. Additional insights show that eCash has experienced 16 green days in the past 30 days, representing a 53% positive trading pattern.
Its liquidity appears strong relative to its market cap, which adds to the ease of trading. The cryptocurrency is also actively traded on major exchanges like Binance. Moreover, eCash has shown strong performance in recent months, with its oversold condition and current market sentiment suggesting the potential for further gains in the near future.
4. MANTRA (OM)
Mantra has recently experienced a significant rally, reaching a two-month high of $1.3155. Over the past year, Mantra has seen substantial growth, with its value surging by over 2,130%.
One major factor contributing to Mantra’s price increase is the rising futures open interest, which has now hit $30 million, a multi-month high. At the time of writing, the token is trading at $1.26, reflecting a 3.07% intraday decline. Despite this short-term dip, it has still gained 1.08% over the past week.
Moreover, current sentiment around the MANTRA DAO price remains bullish, though the Fear & Greed Index, a measure of market sentiment, registers at 37, indicating a level of fear among investors. From a technical standpoint, the token is trading above its 200-day simple moving average, which is typically a positive indicator of long-term price trends.
👀 We've added a new Quest on #Galxe! Earn XPs and climb up the leaderboard now in Season 2 of the 50M $OM GenDrop: https://t.co/4Tw8FVzEP0#MANTRA $OM pic.twitter.com/KDSpd16ppL
— MANTRA ✈️ Permissionless III #OMtober (@MANTRA_Chain) September 26, 2024
Additionally, Mantra has outperformed its token sale price, showing a favorable return for early investors. Over the past 30 days, the token has experienced positive movement for 15 days, and it is currently trading near its cycle high. Its liquidity is also strong relative to its market cap, which suggests that it can handle substantial trading volumes without significant price fluctuations.
5. Pepe (PEPE)
Pepe Coin has seen notable price activity recently, with a significant increase of over 40% this week. The coin’s price surged from $0.0000080 to a weekly peak of $0.000013, marking a substantial recovery in its monthly performance. Previously, Pepe had dropped below $0.0000056 earlier in the month but now shows a nearly 50% price gain over the past 30 days.
This recent upward trend positions Pepe closer to its five-month all-time high (ATH) of $0.000017. Its year-to-date (YTD) price gain is approximately 1,280%, reflecting its volatile but rapid growth. Despite this week’s momentum, the price experienced a pullback, dropping 8.67% in the last 24 hours to $0.000008885.
From a technical perspective, Pepe is trading above its 200-day simple moving average (SMA), indicating a potential longer-term bullish outlook. The coin has recorded 18 green days out of the last 30, translating to a 60% positive trend over the past month. Liquidity remains strong relative to its market cap, and Pepe continues to trade on major exchanges like Binance, further supporting its accessibility and trading volume.
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