Important results will be revealed next week. After calm analysis, it seems there is not much risk. Regardless of whether Trump or Harris ultimately wins, the market may welcome a round of increases. If it's Trump, he may push for Bitcoin to become a national reserve currency more quickly, while Harris may experience an adjustment before a rise.
At the current price range, institutions like BlackRock are actively accumulating, clearly confident in future increases. However, the main funds still need to wash out positions to increase concentration, in order to smoothly drive prices forward.
Once new highs are broken, mainstream media will undoubtedly promote it widely, attracting more capital to maximize profits. Currently, the main funds' holding costs are close to the price at which they gathered chips, which is concerning; a rise is just a matter of time.
A bull market seems incomplete without the participation of altcoins. Bitcoin and Ethereum are like the capital and first-tier cities of a country, with capital inflows often starting from larger coins before moving to smaller ones. Taking ETH and SOL as examples, they attract investment due to their strong ecosystems, while projects like Sui, despite having strength, have relatively weak ecosystem support and still lack attention.
Looking back three months ago, many altcoins rose 5 to 10 times in the early stages. The market has never lacked opportunities for altcoins. Retail investors are often influenced by market sentiment, and in their anxiety, they easily miss good opportunities. Now, many altcoins have experienced significant adjustments, and their market capitalizations still hold potential, with the possibility of 10 times or even dozens of times returns in the future.
These three altcoins with 50 times potential may reach new highs in November this year!
1.Turbo
In fact, GOAT is not the earliest AI-generated memecoin. The earliest successful token of this concept can be traced back to Turbo. In May 2023, inspired by artificial intelligence, the project founder posed a simple yet bold challenge to GPT-4: create the next great meme coin with only a $69 budget. The meme coin, with a contract written by AI, was created by Rhett Mankind; the project initially received liquidity injections from NFT whale Pransky on Uni V3, which later led to speculation.
After the token was launched in May 2023, it lingered at a market cap below $10M for a long time. Until May 2023, when Binance listed the Turbo contract, its FDV quickly broke through $400M, after which it underwent several months of adjustments. Turbo's market cap saw several rounds of surges after Binance announced the launch of spot trading and the explosive popularity of GOAT in September.
2.ENA
Ethena (ENA) has recently experienced significant price fluctuations. Over the past week, its price has dropped 5.60%, currently stabilizing between $0.31 and $0.42. Despite the short-term drop, the token has shown resilience over the past month, rising 3.82%. However, from a broader time frame, ENA's price has fallen 55.39% over the past six months.
Technical indicators suggest a consolidation phase is approaching. The Relative Strength Index (RSI) is at 50.96, indicating neutral market sentiment. The 10-day and 100-day simple moving averages are both at $0.37, suggesting the token is hovering around its average price, with no strong trends in either direction. The MACD level is 0.003069 and the stochastic value is 46.87, further supporting this neutral stance.
Considering resistance and support levels, if ENA breaks through the recent resistance level of $0.48, it may aim for the second resistance level of $0.59, indicating a potential upward space of about 40%.
3.People
The high market cap coin is People. This coin was issued by ConstitutionDAO, established in 2021. This organization aimed to raise funds to bid for a copy of the U.S. Constitution at Sotheby's, raising about $40 million (6000 ETH) at the time, and then issued PEOPLE governance tokens through the Juicebox platform, where 1 ETH could be exchanged for 1 million PEOPLE. Holders of this token have community governance rights but no ownership of the Constitution. The bidding ultimately failed, the project collapsed, and the community disbanded; however, some members kept their PEOPLE tokens and used the DAO to develop other projects, thus turning People into a meme coin.
It has upward momentum due to being a meme, fully circulating, low market cap, and its political association with the Constitution. The current market cap is $386M, with a nearly 14-day price fluctuation of -7.6%, which is highly correlated with the presidential election timeline!
