Pepe (PEPE), a well-known meme coin in the cryptocurrency space, saw a drop of around 3% in the past 24 hours despite a whale’s large acquisition of 160.4 billion PEPE tokens, valued at approximately $1.31 million. Typically, such significant purchases lead to price increases, leaving some investors anticipating a similar outcome.
Meanwhile, macroeconomic policies in the U.S. and Japan have spurred a bullish trend in Bitcoin. The cryptocurrency’s price surged this week following interest rate decisions by the Federal Reserve and the Bank of Japan. Since the U.S. Federal Reserve decided to lower interest rates, Bitcoin has seen an 11% gain, surpassing $62,000 for the first time this month. Meanwhile, altcoins are also printing positive price increases. Here are the five best altcoins to watch today for those looking to capitalize on this optimism.
5 Best Altcoins To Watch Today
Last month, BharatBox, a collaboration between The Sandbox and the Brinc accelerator, launched its inaugural avatar collection. Arbitrum (ARB) has recently seen a significant rise in market activity, signaling a potential rally after several weeks of trading within a downward trend.
Following its launch, ORDI became the first BRC-20 token to exceed a $1 billion market cap, a noteworthy achievement in decentralized finance (DeFi). Polkadot (DOT) is currently valued at $4.42, showing a 3.20% gain in daily trading. Memebet is drawing attention with its innovative approach that combines online gambling and cryptocurrency. Bitcoin reported a 5.5% increase following a rate cut over the week, while MicroStrategy further expanded its holdings.
1. The Sandbox (SAND)
Last month, BharatBox, a joint venture between The Sandbox and Brinc accelerator, introduced its first avatar collection, inspired by the Bollywood film Jab We Met. The collection, created in collaboration with Shemaroo, the film’s IP owner, features 3,333 Geet avatars, played by Kareena Kapoor. Owners of these NFTs can participate in social and gaming quests within The Sandbox, with the chance to win exclusive merchandise.
The Sandbox partnered with SSC Napoli in another development, marking the Italian football club’s entry into the metaverse. This collaboration aims to allow fans to engage with the club, its players, and other supporters through innovative games and experiences.
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— The Sandbox (@TheSandboxGame) September 17, 2024
Meanwhile, SAND trades at $0.287917, reflecting a 7.24% intraday rally. The token has performed relatively well, with 17 days in the past month seeing its daily closing price exceed its opening price. Additionally, its liquidity remains strong in its market capitalization, indicating stable market activity.
2. Arbitrum (ARB)
Arbitrum (ARB) has recently experienced a notable uptick in market activity, showing signs of a potential rally after weeks of trading within a descending channel. The token is now testing key resistance levels, sparking speculation about whether it could reach the $1.50 mark by Q4. Arbitrum is trading at $0.564, following an 11.78% intra-day rise. Increased buying pressure has accompanied this move, with trading volume surging by nearly 86% in the last 24 hours.
Despite the recent gains, there are signs of caution. A drop in large transactions hints at reduced confidence among major holders, often called “whales.” This could mean that, while sentiment appears positive in the short term, profit-taking might lead to a price correction. Arbitrum’s value could fall to the $0.328 support level if this occurs.
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— Arbitrum (💙,🧡) (@arbitrum) September 19, 2024
However, if the upward momentum continues, Arbitrum may solidify its position in the DeFi sector, where it currently holds a total value locked (TVL) of $2.47 billion. Its future performance will largely depend on balancing bullish sentiment and profit-taking behaviors in the coming weeks.
3. ORDI (ORDI)
Post-launch, ORDI became the first BRC-20 token to surpass $1 billion in market capitalization, marking a significant milestone in decentralized finance (DeFi). Since then, it has attracted increasing interest due to its role in enabling innovation through the Ordinals protocol, which allows data to be embedded directly in Bitcoin’s smallest unit, the Satoshi.
ORDI trades at $35.66, reflecting a 5.18% rise in the past 24 hours. Over the last year, ORDI has seen an impressive 858% growth, outperforming 96% of the top 100 crypto assets, including Bitcoin and Ethereum. It trades above its 200-day simple moving average, indicating a stable upward trend.
Alongside its current price, which is nearing a cycle high of $36.89, the token demonstrates strong liquidity for its market size. Projections suggest a price increase of 230.25%, potentially reaching $114.89 by October 2024.
Overall, ORDI’s performance has positioned it as a notable crypto player driven by its innovative protocol and sustained market momentum. However, as with any asset, investors should remain cautious and consider the inherent risks in the volatile cryptocurrency market.
4. Polkadot (DOT)
Polkadot (DOT) is priced at $4.42, reflecting a 3.20% intraday rally. Trading volume during this period reached $130.75 million, highlighting strong liquidity. With a market capitalization of $6.45 billion, Polkadot holds 16th place on CoinMarketCap, and its circulating supply stands at 1.495 billion DOT.
From a technical perspective, the price is at the lower limit of the Bollinger Bands ($4.299), suggesting a potential oversold condition. The Money Flow Index (MFI) indicator 36.38 supports this view, signaling proximity to the oversold zone.
Given the high trading volumes and involvement of major players, the recent dip may be temporary. The indicators suggest the possibility of a short-term price correction. Over the past year, Polkadot’s price has risen by 10%, reflecting a positive performance relative to its token sale price. Its strong liquidity, underpinned by its market cap, further supports potential upward movement in the near term.
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— Polkadot (@Polkadot) September 20, 2024
In other developments, Polkadot has launched “Polkadot Roots,” a community-driven initiative to host meetups in key Web3 regions. Additionally, Moonbeam Network has partnered with Zapper, enhancing the on-chain experience for Moonbeam users and expanding Polkadot’s ecosystem.
Polkadot’s introduction of “Scale Smarter with Agile Coretime” provides developers with flexible access to blockspace, either on-demand or bulk. This approach is expected to lower entry barriers, reduce costs, and accelerate project time-to-market, eliminating the need for parachain auctions.
5. Memebet ($MEMEBET)
Memebet is gaining attention due to its unique blend of online gambling and cryptocurrency, which is particularly appealing to crypto traders and gambling enthusiasts. The platform specifically targets those already engaged with meme coins. Its main feature, the “Memebet Casino,” allows users to place bets on various games using meme tokens. A key aspect is the lack of KYC (Know Your Customer) requirements, making it easy for users to connect their crypto wallets through Telegram and start betting quickly.
Beyond casino games, Memebet also offers a global sportsbook covering popular leagues like the EPL and NBA. Memebet’s combination of crypto gambling and meme coin trading positions it to attract Telegram’s large user base. Additionally, the platform targets those active in meme coin trading. While the crypto casino market remains relatively small, it is growing, and Memebet appears poised to capitalize on this trend.
Incentives are also part of the platform’s strategy. Users can benefit from play-to-earn (P2E) airdrops and rewards, with VIP perks available to those who invest in the native $MEMEBET token, currently priced at $0.0253. The token price is expected to rise, and the project has already raised over $262,000, suggesting early interest. Although Memebet is still in its early stages, its combination of crypto gambling and meme coin trading offers a potentially attractive option for users looking for new forms of entertainment as both sectors expand.
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