Bitcoin rebounded strongly above $101,000 after a pullback earlier this week. This rebound not only boosted market sentiment but also led to significant recoveries in multiple altcoins. At the same time, this rebound coincided with a slight increase in the inflation rate to 2.7% in November, further propelling cryptocurrencies to break through important thresholds.
Currently, Bitcoin has emerged from a small degree of upward impulse, maintaining above $97,400-$98,400, which is considered strong. If this is the first wave, the subsequent rally will be more violent than this one.
I personally believe that Bitcoin does not need violent rallies; such violent movements scare altcoins from rising. It just needs to inch up step by step, giving altcoins a chance to distribute. Those who claim the top can go sweep the market and see what the altcoins are like in terms of shapes and structures. I do not believe that the dog traders can complete the distribution in such forms.
Currently, the intraday resistance is $102,000, and the support level is $97,000.
Four altcoins poised for a 100x rise hidden below.
1. DOT
Polkadot (DOT) has recently performed steadily, currently trading at $8.80, up 8.78% over the past day. Its market cap is $14.17 billion, with a 24-hour trading volume of $1.02 billion, indicating strong liquidity. The 7.25% volume/market cap ratio 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 exhibits strong market activity, with a market cap 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 cap of $8.81 billion, indicating that nearly all of the token's supply is in circulation.
This asset has continued to grow, with a price increase of 35% over the past year. Its trading price is 54.93% above the 200-day simple moving average (SMA) of $5.95, indicating a sustained upward trend. NEAR has also recorded 16 trading days of positive values in the past month, accounting for 53% of that period, enhancing its stability during this time.
According to market analysis tools, despite the recent surge of the NEAR protocol, market sentiment remains neutral. The Fear and Greed Index shows a score of 83, indicating high bullish sentiment or 'extreme greed', which may lead to increased volatility.
3. STX
Stacks acts as a layer for Bitcoin, enabling smart contracts and decentralized applications to utilize Bitcoin as an asset and facilitate transactions on the Bitcoin blockchain. Its functionality is supported by the proof-of-transfer consensus mechanism and the Clarity language, allowing access to Bitcoin's state at any time.
This integration makes Stacks a unique platform that extends the use of Bitcoin beyond simple transfers or value storage. Currently, the price of Stacks is $2.43, reflecting an increase of 8.29% over the past 24 hours. This upward trend is 27.51% above the 200-day simple moving average (SMA) of $1.89844, indicating bullish market sentiment.
Additionally, Stacks has performed steadily, with 19 good trading days over the past 30 days. The 24-hour trading volume to market cap ratio of Stacks is 0.1207, indicating reasonable liquidity relative to its market cap. Such levels of liquidity make it an affordable choice for investors. Its sustained trading ability above key averages further solidifies its current strength in the market.
4. WIF
Dogwifhat (WIF) is a meme coin inspired by a cute dog wearing a hat, attracting the interest of cryptocurrency enthusiasts. The token is consolidating within a descending wedge pattern, which typically suggests a breakout. The bullish target is to achieve a significant gain of 175% from the point of control (PoC) value area, while the rising volume adds momentum to this outlook.
Additionally, Dogwifhat has established partnerships with major players in the cryptocurrency exchange space, including Binance, Bybit, BYDFi, OKX, and DOEX. These partnerships enhance the accessibility of WIF, providing users with various trading and investment avenues.
In terms of market performance, WIF has shown significant growth. Just three months ago, the trading price of the token was $1.4462. Since then, it has skyrocketed by an astonishing 111.589%, now reaching $2.92. The total supply is 998.84 million tokens (all in circulation), and investors will not face inflation risks from additional token issuance.
Despite the strong growth of WIF, market sentiment remains bearish. Interestingly, the Fear and Greed Index scores 83 among market participants, indicating 'extreme greed'. Over the past 30 days, WIF has recorded 15 up days, reflecting a daily price increase success rate of 50%.
Dogwifhat is also listed on major exchanges, enhancing its liquidity and accessibility. While the current price outlook remains neutral, the increase in volume and market interest makes $WIF a token to watch closely.
From a technical perspective, analysts believe that if the current trend continues, WIF may reach resistance levels of $3.908 and $4.436. As a low market cap token with stable liquidity and trading volume, Dogwifhat offers potential opportunities for traders and investors seeking short-term gains.