With Bitcoin (BTC) leading the market upward, especially when funds have not fully entered the market, blindly chasing gains carries significant risks, as market corrections may result in substantial losses, so it is not advisable to rush in.
Once Bitcoin's upward momentum weakens, funds may shift to other cryptocurrencies, especially leading coins like Ethereum (ETH) and SOL. Closely monitoring the dynamics of these coins can help in understanding the flow trends of market capital.
Recently, investors should pay attention to popular areas such as Layer 2, decentralized finance (DeFi), and memes, as these segments often surge after a strong rise in Bitcoin. As wise investors, they should lay out their plans in advance to timely capture changes in capital flows.
Currently, Bitcoin's individual rise is a reflection of the natural rotation of the market. During this phase, investors should remain calm and patient, waiting for changes in capital flows and shifts in market rhythms.
Buying these cryptocurrencies in 2024 can yield 100 times the return!
1. OP
Optimism (OP) currently has a trading price of $2.08, with a significant increase of 19.58% in the past 24 hours. This growth has propelled its market capitalization to $2.59 billion and facilitated a trading volume of $857.19 million. Considering its fully diluted valuation (FDV) is as high as $8.85 billion, and the total supply has reached its maximum of 4.29 billion OP, Optimism's market position cannot be ignored.
Looking back over the past year, the value of Optimism has increased by 22%, and its current trading price is 30.09% higher than the 200-day simple moving average (SMA) of $1.60, showcasing its strong market performance. Currently, the market sentiment surrounding Optimism is generally optimistic, with the fear and greed index at 82, indicating extreme greed among investors. Based on this sentiment, the market generally expects the price of Optimism to continue rising.
Looking to the future, predictions indicate that by November 2024, the price of Optimism may reach $3.39 and fluctuate within the range of $1.70 to $5.85. If this prediction comes true, investors could potentially gain up to 178.23% returns from the current price. Entering December 2024, predictions further show that the price of Optimism may fluctuate within the range of $5.73 to $8.15, with the monthly average price potentially reaching $7.12, meaning investors may enjoy a potential return rate of up to 287.51%.
2. MKR
Maker (MKR) currently has a trading value of $1,540.14, with a 2.05% increase in the last 24 hours. Looking back over the past year, MKR's price has grown by 5%, showing a stable appreciation trend. The current fear and greed index in the market is at 82, indicating that the market is in a state of 'extreme greed', reflecting that investor confidence in MKR continues to strengthen.
The MKR token also exhibits high liquidity that matches its market capitalization, further enhancing its market appeal. For the November forecast, MKR's price is expected to rise, anticipated to reach $2,359. This month's trading price is expected to fluctuate between $1,472.47 and $2,759.40, a range that may be influenced by last month's market performance. If the price reaches the upper limit of the range, investors could achieve up to 79.18% returns by buying at the current price and holding until the forecast peak.
Looking ahead to December, MKR's trading price is expected to fluctuate within a larger range, from $2,610.72 to $4,098.78. Analysts predict that by the end of this year, MKR's average price will reach $3,561.04, representing an increase of about 131.23% compared to its current value. For investors currently considering entering the market, if this prediction comes true, it means they could achieve an investment return rate (ROI) of up to 166.15%, provided they buy at the current price level and hold until the end of the year.
3. TAO
Bittensor (TAO), as the cornerstone of the decentralized AI ecosystem created by Digital Currency Group (DCG), is leading a new round of transformation in this field. Under the leadership of DCG head Barry Silbert, the group has expanded its strategic focus to the decentralized AI sector and is committed to incubating and nurturing a series of innovative enterprises utilizing decentralized AI technologies through its newly established company, Yuma.
The Bittensor network encourages users to contribute their computing power and data resources for various tasks, including text translation, data storage, and protein structure prediction, through incentive mechanisms. Currently, the trading price of TAO is $468.03, with a daily increase of 2.28%. Its market capitalization has risen to $3.45 billion, with a fully diluted valuation as high as $9.83 billion. The circulating supply of TAO tokens is 7.38 million, while the maximum supply is capped at 21 million.
In the past year, Bittensor has shown particularly strong growth, with its price rising by 85%, outperforming the 53% increase of the top 100 cryptocurrencies. Compared to the 200-day simple moving average of 122.07, TAO's trading price exceeds by an astonishing 282.06%. However, despite TAO's strong market performance, the current price forecast appears somewhat pessimistic.
Market sentiment towards TAO presents a complex situation. On one hand, the fear and greed index is at 82, indicating that the market is in a state of 'extreme greed', reflecting strong interest from investors towards TAO; on the other hand, bearish predictions suggest that prices might see a correction. The forecast for December 2024 indicates that TAO's trading price is expected to fluctuate between $1,601.05 and $2,271.45, with an average price anticipated at $1,985.22. If these predictions hold true, investors could see an investment return rate of up to 386.66%.
It is worth mentioning that TAO has extremely high market liquidity, with a 24-hour trading volume reaching $338.7 million, accounting for a staggering 9.71% of its market capitalization, further highlighting its market activity and investor enthusiasm.
4. SUI
Sui's uniqueness lies in its deep focus on enhancing user experience, successfully overcoming the barriers that often make blockchain seem inaccessible. By implementing convenient login processes, providing free trading services sponsored by third parties, and allowing users to customize their trading processes, Sui ensures that its applications are not only powerful but also easy to use and user-friendly. In the current market environment, people increasingly seek tokens that possess advanced technology and are easy to use. Compared to other tokens, Sui's dual emphasis on cutting-edge technology and user-friendliness may make it an attractive option for those aspiring for the future of Web3.
5. DOGE
DOGE is closely linked to Musk and is ushering in new opportunities brought by Trump's administration. The government efficiency department that Musk plans to establish is directly named after DOGE, which seems to indicate that DOGE is about to experience a strong surge.
Meanwhile, the U.S. Securities and Exchange Commission (SEC) is about to undergo a change in leadership, with the former chairman who took a tough stance on market makers resigning, clearing legal hurdles for the rise of DOGE. As a long-established digital currency, DOGE has accumulated deep community consensus over its long-term development. Its representation of a 'dog' image is deeply rooted in American culture.
In the context of a bull market, DOGE's price is expected to experience explosive growth, with a breakthrough of the $0.50 mark imminent. This prediction is based not only on DOGE's close ties to Musk but also on its strong community foundation and unique cultural symbolism.
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