Currently, there is a strong correlation between the volatility of the cryptocurrency circle and the macro market. Bitcoin took a roller coaster ride last night following the macro data. The market in June was not so smooth, but don’t worry. After the shock, the market will readjust its expectations and regain support. The outlook is firmly optimistic, so short-term fluctuations do not mean anything.
With the current market adjustments, it is a good opportunity to pick up bargains. This was the case in May and will remain the case in June.
Buy these 4 potential coins now and get 100 times the return
BONK
Bonk (BONK) is a meme coin on the Solana blockchain that has seen significant growth recently. Its price rose 19% after it went public on popular trading platform Robinhood. Although the price has since corrected, analysts remain hopeful about BONK's future. BONK trades at $0.000028 and has a market cap of $1.97 billion.
So far this year, BONK’s price has risen by 147.87%. The token’s growing user base and trading volume as more transactions are added indicate that it has great potential. Despite the price correction, BONK’s strong performance and resilience since surpassing the March highs suggest that its price could double by June. In addition, its active community support has increased demand and sparked excitement on social media.
Bonk reached $0.0000444 on May 28 but declined as investors started to book profits. The decline occurred during an overall bearish market trend. However, bulls seem to be gaining strength again. The relative strength index (RSI) rebounded into the neutral zone above 30. If the RSI continues to rise into the overbought zone, it could move the path of least resistance to the upside.
Furthermore, Bonk must reclaim the position above the 20-day EMA, currently at $0.000028, and achieve a daily close. Such a move would strengthen the bullish momentum and confirm the uptrend as the weekend approaches.
BABYDOGE
The global cryptocurrency market remains subdued, awaiting the U.S. Consumer Price Index (CPI) report for May 2024, which is scheduled for release at noon UTC in June. However, Baby Doge Coin (BabyDoge) has experienced a notable rebound, gaining over 38% in the past day, from $0.000000001621 to $0.000000002237.
BabyDoge's price surge comes after it was permanently listed on Bybit, the world's fourth-largest cryptocurrency exchange. Bybit currently handles about $71.13 million in BabyDoge trading volume, contributing significantly to the price increase. With a total trading volume of 5.3 billion, Bybit remains one of the leading exchanges in the world.
According to CoinMarketCap, BabyDoge is currently priced at $0.0000000017 with a market cap of $264 million. This marks a 12.12% increase in the past 24 hours. Trading volume also surged 383% to $85.48 million, making it the 97th most traded coin.
Additionally, BabyDoge recently announced a partnership with Tangem, a company known for its secure hardware wallets. The partnership aims to create an exclusive BabyDoge-branded hardware wallet that combines Tangem’s advanced technology with Baby Doge Coin’s active community.
In the past month, Baby Doge Coin has gained 15%, and in the past six months, it has gained 29%. Since the beginning of the year, the meme coin has surged more than 236%, quadrupling its market price. Looking ahead, the average price of BabyDoge is expected to be $0.00000000257 in June 2024, with possible minimum and maximum prices ranging from $0.000000001626 to $0.00000000352.
WHAT
Investors are always looking for good opportunities when the market is declining. In 2024, KASPA (KAS) has become a strong competitor among digital assets. Its price has increased by 999.54% so far this year. A week ago, on June 5, 2024, the token’s price hit an all-time high of $0.1919 due to this outstanding performance.
KAS is up 7.10% in the past day of trading. However, it has had a difficult week, with its value falling 11.09%. Despite these short-term challenges, the long-term outlook for Kaspa is positive, with an increase of 34.40% over the past month. KASPA has a market cap of $4 billion, ranking 25th among cryptocurrencies. The 24-hour trading volume is around $78 million, indicating a volume-to-market cap ratio of 1.93%, indicating moderate activity.
Over the past year, Kaspa (KAS) has been steadily rising in the market cap rankings. Its price has been on a long-term upward trend with only brief pullbacks. In the past 12 months, KAS has grown by more than 1,000%. Crypto Jon, a well-known YouTuber with over 60,000 followers, believes that the token has the potential to enter the top 10 cryptocurrencies by market cap.
One reason for this optimism is that Kaspa recently integrated smart contracts (called KC20) and used the popular Rust programming language, highlighting its strong technical capabilities. Although Kaspa is listed on only a few exchanges, its daily trading volume has reached $70 million, comparable to major cryptocurrencies. This high liquidity is seen as an early sign of possible widespread adoption.
CFX
Conflux Network (CFX) is a fast layer-1 blockchain that combines proof-of-work consensus with proof-of-stake finality. It originated in China and adheres to local regulations, earning it the nickname "Chinese Ethereum".
The network’s native token, CFX, has multiple functions, including being a store of value and a governance token. In addition, you can stake CFX tokens to earn passive income through additional CFX tokens.
Looking at the daily price chart of Conflux, CFX has experienced selling pressure, with its price falling below the immediate Fibonacci channel and approaching $0.18. However, buying pressure may emerge in the coming hours. The 24-hour trading volume has increased to $67.4 million, indicating increased trading activity today. Currently, CFX is trading at $0.188, up more than 4.15% in the past 24 hours.
As Bitcoin climbs towards $70,000, Conflux’s price has also been rising. However, sellers are now active and will try to prevent further gains in the coming days. The recent launch of a spot Ethereum ETF could boost the Chinese crypto token and could cause CFX’s price to rise sharply soon.
Some experts believe that Bitcoin could serve as a modern equivalent to gold. Conflux Network is the only blockchain in China that meets regulatory standards, making it an attractive option for Chinese investors who might choose CFX tokens over Bitcoin.
Currently, the Conflux Network does not have a long-term roadmap extending to 2030. However, considering previous updates, it could become the leading first-layer blockchain in the crypto market by 2025.
