In a recent article from Coinpedia Fintech News, it was discussed that despite the current bearish sentiment in the cryptocurrency market, certain altcoins have the potential to surge by 100% if a bull run begins. Due to the recent market downturn, these altcoins are currently available at discounted prices.
The altcoins identified as having significant potential in the next bull run for 2024 include Solana (SOL), Dogecoin (DOGE), and Ripple’s native token XRP.
Arthur Hayes, the co-founder and former CEO of BitMEX, predicted that an "altcoin season" would return once Bitcoin (BTC) and Ethereum (ETH) surpass the $70,000 and $4,000 marks, respectively. He also projected that Solana could climb to over $250, though he noted that the market impact of such a rise in Solana would be less significant compared to Bitcoin and Ethereum due to its smaller market cap.
For 2024, Solana is showing bullish signs as it is trading above the 200 Exponential Moving Average (EMA) on a daily chart. Currently trading near $145, there is a strong possibility that Solana could rise to $190 in the coming days, and potentially reach an all-time high of $260 if the market sentiment turns positive.
Dogecoin, the largest meme coin, is also showing bullish potential. Despite experiencing a significant price drop in the last three months, it remains above the 200 EMA on a weekly chart. If market conditions improve, Dogecoin could see a 100% increase or more, particularly as investors continue to accumulate the coin.
Lastly, Ripple’s XRP is also positioned for a potential breakout. The token has been consolidating within a bullish symmetrical triangle pattern on a weekly chart. If XRP breaks out above the $0.66 level and closes a weekly candle at that point, it could potentially rise by 100% to reach $1.35 in the near future.
