Recently, the price of Bitcoin has corrected due to the market's general expectation that it will break $100,000, leading retail investors to cash out profits. It is generally expected that after the Trump inauguration ceremony (on January 20), the market may see new trends.
Looking back at the last cycle of DOGE's performance, there may be a rise at the end of December, and a strong start after the new president takes office at the end of January, with a tenfold increase within half a month, driving the altcoin market into a frenzy.
Experience shows that Trump-related events have a significant impact on the crypto world. ETH, DOGE, and others may lead a new altcoin boom. In the first quarter of next year, with Trump's inauguration and market sentiment warming up, there may be new trends in the crypto market, and investors need to pay close attention to the market to seize investment opportunities.
These high-multiplication coins with investment potential in 2024:
1 STX
STX is closely related to the Bitcoin network and has performed brightly recently, with the price rising 8% to $2.22, a market capitalization exceeding $3 billion, ranking within the top 45.
At the same time, trading volume has surged by 132.73% to $780.58 million, demonstrating high market interest. Its correlation with Bitcoin has reached 0.86, making it a high beta asset in the Bitcoin ecosystem, providing opportunities for investors.
The market is optimistic about STX's future potential. Technical charts show that it is in a consolidation pattern, with buyers actively accumulating. The range of $2 to $2.05 may serve as the starting point for a breakout. Although it briefly broke through the resistance level, it fell back to that range, but it still stands above the 200-day moving average, solidifying a long-term bullish trend.
Comparing the performance of STX with Bitcoin, the price trends are consistent; if Bitcoin continues to rise, the target price for STX is expected to reach $4. As STX breaks out of the consolidation range, the number of open contracts has increased significantly, reflecting strong interest from traders, possibly preparing for a rebound.
2 SOL
SOL shows ambition, aiming directly at $500. If achieved, it will start a journey to challenge historical highs, creating a strong bullish atmosphere in the cryptocurrency market with huge potential.
The next few days are crucial for SOL, which will face a test of its upward trajectory. Bitcoin's strong performance also brings optimistic sentiment, providing support for its price trend.
Recent breakthroughs are a sign of enhanced bullishness; SOL stands out among many altcoins.
3 ICP
ICP is performing strongly in the cryptocurrency market, with Bitcoin's growth reaching 50% in the past 30 days, breaking through the historical high of $99,502.
In the altcoin market, ICP stands out particularly, with a 24-hour increase of 11.63% and a weekly increase of 36.48%. ICP successfully broke through the upper resistance trend line of the descending triangle pattern, entering the key resistance zone of $10.20 to $10.90.
If it can firmly break through, it is expected to usher in a new round of upward momentum, with $13.00 and $14.00 as potential targets for the next phase. From the daily chart, the bullish trend of ICP after the breakout is evident, with an RSI of 66.28, indicating significant upward potential. If the upward momentum continues, it is expected to quickly reach $13.00, possibly even $14.00.
However, if market resistance is high, the price of ICP may consolidate at current levels. Nevertheless, the ecosystem report released by the foundation supports it, showcasing the rapid development of the ICP platform, especially in the cross-chain technology field, with protocol activity increasing by 1230% over the past year.
4 DOGE
DOGE has a close relationship with Musk, and may encounter new opportunities during Trump's administration. Musk named a government efficiency department after DOGE, which seems to indicate that DOGE is about to experience a strong surge.
Meanwhile, the chairman of the U.S. Securities and Exchange Commission is about to change, removing the previous strict attitude, which will clear legal obstacles for DOGE. As a long-standing digital currency, DOGE has a deep community consensus, and its 'dog' image is deeply ingrained.
In a bull market, DOGE is expected to experience explosive growth in price, breaking through $0.5 is within reach, not only because of its connection with Musk but also due to its strong community base and unique cultural symbol.
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