Bitcoin rebounded strongly above $101,000 earlier this week after a pullback. This rebound not only boosted market sentiment but also led to significant recoveries in several altcoins. Furthermore, this rebound coincided with a slight increase in the inflation rate to 2.7% in November, further driving cryptocurrencies to break through significant barriers.
Bitcoin has currently emerged from a small-scale upward push, maintaining above 97400-98400, which is considered strong. If this is the first wave, the subsequent surge will be more violent than this one.
I personally believe that Bitcoin does not need a violent surge; a violent surge is too aggressive and makes altcoins hesitant to rise. It just needs to move up gradually, giving altcoins a chance to distribute. Those who say it's peaking can take a look at the charts to see what forms and structures altcoins are showing; I don't believe that a dog trader can complete distribution in such a form.
The current intraday resistance level is 102000, with a support level at $97000.
Four altcoins poised for a future 100x increase below
1. DOT
Polkadot (DOT) has shown solid performance recently, currently trading at $8.8, up 8.78% over the past day. Its market capitalization is $14.17 billion, with a 24-hour trading volume of $1.02 billion, indicating strong liquidity. The volume/market cap ratio of 7.25% further highlights active trading activity.
2. NEAR
NEAR Protocol (NEAR) is currently priced at $6.80, with a daily increase of up to 10.86%. The token shows strong market activity, with a market capitalization of $8.77 billion and a 24-hour trading volume of $603.37 million. The fully diluted valuation (FDV) is very close to the market capitalization of $8.81 billion, indicating that nearly all of the token's supply is in circulation.
The asset continues to grow, with a 35% price increase over the past year. Its trading price is 54.93% higher than the 200-day simple moving average (SMA) of $5.95, indicating a sustained upward trend. NEAR also recorded 16 positive trading days over the past month, accounting for 53% of the period, enhancing its stability during this time.
According to market analysis tools, despite the recent surge in the NEAR protocol, market sentiment remains neutral. The Fear and Greed Index shows a score of 83, indicating high optimism in the market or 'extreme greed', which could lead to increased volatility.
3. STX
Stacks acts as a layer for Bitcoin, enabling smart contracts and decentralized applications to leverage Bitcoin as an asset and facilitate transactions on the Bitcoin blockchain. Its functionality is supported by a proof-of-transfer consensus mechanism and the Clarity language, allowing for constant access to Bitcoin's status.
This integration makes Stacks a unique platform that extends the use of Bitcoin beyond simple transfers or value storage. Currently, Stacks is priced at $2.43, reflecting an 8.29% increase over the past 24 hours. This upward trend puts it 27.51% above the 200-day simple moving average (SMA) of $1.89844, indicating bullish market sentiment.
Additionally, Stacks has performed steadily, with 19 trading days showing good performance over the past 30 days. The 24-hour trading volume to market cap ratio of 0.1207 indicates reasonable liquidity relative to its market cap. Such liquidity levels make it an affordable option for investors. Its ongoing ability to trade above key averages further solidifies its current market strength.
4. WIF
Dogwifhat (WIF) is a meme coin inspired by a cute little dog wearing a hat, capturing the interest of cryptocurrency enthusiasts. The token is consolidating in a descending wedge pattern, a technical setup that typically signals a breakout. The bulls aim for a significant 175% gain from the point of control (PoC) value area, with rising volume adding momentum to this outlook.
Additionally, Dogwifhat has established partnerships with major players in the cryptocurrency exchange sector, including Binance, Bybit, BYDFi, OKX, and DOEX. These collaborations enhance the accessibility of WIF, providing users with multiple trading and investment avenues.
In terms of market performance, WIF has shown significant growth. Just three months ago, the token's trading price was $1.4462. Since then, it has soared an astonishing 111.589%, now reaching $2.92. The total supply is 998.84 million tokens (fully circulating), and investors will not face inflation risk due to additional token issuance.
Despite strong growth in WIF, the current market sentiment remains bearish. Interestingly, the Fear and Greed Index scores 83 among market participants, indicating 'extreme greed'. Over the past 30 days, WIF recorded 15 up days, reflecting a 50% success rate for daily price increases.
Dogwifhat is also listed on major exchanges, enhancing its liquidity and accessibility. While the current price outlook remains neutral, the increase in trading volume and rising market interest make $WIF a token worth closely monitoring.
From a technical perspective, analysts believe that if the current trend continues, WIF could reach resistance levels of $3.908 and $4.436. As a low market cap token with stable liquidity and trading volume, Dogwifhat presents potential opportunities for traders and investors seeking short-term gains.
