Two Top Altcoins Worth Holding

PEPE

Pepe has been a big player in the meme coin market and has recently demonstrated its potential to go against the market trend. After being listed on Upbit, a leading South Korean cryptocurrency exchange, Pepe surged 11%, breaking out of the descending channel it had been stuck in since early August. The breakout is more than just a technical move; it signals a shift in market sentiment in favor of PEPE.

Technical indicators are in Pepe’s favor. The coin is approaching its 20-day exponential moving average (EMA), a key indicator that suggests bullish momentum is building. Additionally, Pepe’s market value to realized value (MVRV) ratio suggests that it is undervalued, which is a lucrative buying opportunity. As Pepe continues to recover from its recent downturn, it could reach its target price of $0.0000085, offering solid returns to those who invest now.

SHIB

Another well-known meme coin, Shib, has recently seen a staggering 1,088% spike in its burn rate, along with a 4.5% increase in price. The burn rate is the process of permanently removing tokens from circulation and is a strategy to reduce supply and increase scarcity. While past data suggests that price surges are not always accompanied by an increase in the burn rate, current momentum suggests a different outcome this time.

Shiba Inu’s Sharpe Ratio, a measure of risk-adjusted returns, has also improved, hinting at a more favorable environment for potential price increases. Trading within a bullish ascending channel, SHIB could rise to $0.000016 in value if the current trend continues. The combination of reduced supply and increased demand makes Shiba Inu a strong contender for a significant rally by the end of 2024.

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