The post Top Altcoins to Consider Amid the Highly Anticipated Electrifying Altseason appeared first on Coinpedia Fintech News
The cryptocurrency market has been attracting more ‘holders’ in the past few months, following the heightened volatility that has caused max-pain among leverage traders. With the recent crypto correction anticipated to taper off in the fourth quarter of 2024, a major pump in altcoin is anticipated in the subsequent months.
Furthermore, the crypto bull market tends to peak on average about 480 days after the Bitcoin (BTC) halving, and we have only seen 117 days.
With Bitcoin’s dominance signalling a potential reversal in the near term, the weekly chart continues to form a rising wedge coupled with a bearish divergence on the Relative Strength Index (RSI).
According to an established crypto trader alias Mikybull, the altcoin industry is on the verge of the next major bull wave following the completion of the post-halving crypto capitulation. Furthermore, most altcoins have already wiped out a significant portion of the gains registered this year.
#Altcoins next wave of rally will be huge as post-halving capitulation is ending. pic.twitter.com/bSB4bk0bX0
— Mikybull Crypto (@MikybullCrypto) August 15, 2024
Top Altcoins to Watch Out in the Next Rally.
Due to the fast-growing pace of the altcoin industry, a significant rise in bad actors has been reported, fueled by the existence of huge regulatory gaps in different jurisdictions. Identifying the best altcoins to consider in the next three to five months will be crucial in determining the success rate.
Meme Coins
The notable success of Elon Musk-backed Dogecoin (DOGE), Ethereum (ETH)-based Shiba Inu (SHIB), and Solana-based meme coins has triggered a plethora of other similar projects. As of this writing, the top meme coins have a market cap of about $40 billion and a daily average traded volume of around $3.6 billion.
Already, the Tron (TRX) and BSC networks have recently accelerated their investment into the meme coin industry to attract more users to their respective DeFi projects.
@trondao and @sunpumpmeme are jointly launching a $10M Meme Ecosystem Boost Incentive Program, exclusively for tokens launched on SunPump! This initiative is designed to supercharge projects with resources and support to reach new heights. pic.twitter.com/bplApz3bI2
— SUN.IO (@sunpumpmeme) August 15, 2024
Some of the most promising meme coin projects to consider include Floki Inu (FLOKI), Baby Doge Coin (BABYDOGE), and frog-themed Pepe (PEPE).
Layer Two-based and DeFi Tokens
The notable rise of the web3 sector, through real-world assets (RWA) tokenization and seamless blockchain interoperability, has birthed a huge economy in the cryptocurrency industry. As a result, it is prudent to consider altcoins in top-performing DeFi projects in daily active unique visitors, liquidity level, and the security environment.
According to the latest market data, the DeFi industry had a market cap of around $70 billion, a total value locked of over $85 billion, and a daily average trading volume of around $3 billion.
Some of the DeFi tokens likely to perform well include Chainlink (LINK), Uniswap (UNI), Lido DAO (LDO), PamcakeSwap (CAKE), and 1inch (1INCH), among others.
