Altcoins
Top 2 Altcoins to Buy Poised for Massive Gains in 2024
As the crypto market rides a wave of bullish sentiment this week, renewed optimism over the approval of Ethereum spot ETFs has risen. Altcoins to buy, like Avalanche (AVAX), and meme coins to buy, like Bonk, saw double-digit gains. Bitcoin also supported the market, surpassing $71,000 on Tuesday. Despite the ongoing correction, several micro and macro indicators support the bullish thesis pushing towards $100,000.
Altcoins to Buy for 100X Profit in 2024
Many investors have already rebalanced their portfolios, taking advantage of directionless sideways trading in late April and early May. Additionally, the correction from first-quarter highs has exposed cheap buying opportunities while setting up for major breakouts later in the year, marking the 2024 bull market.
However, it is not too late to register altcoins to buy like Avalanche and Bonk. While these two digital assets may not be enough to make someone a millionaire in 2024, they can contribute significantly to a millionaire’s potential crypto portfolio.
Meme Coins like Bonk, allow affordable entries into the market. On the other hand, Avalanche is a renowned general-purpose blockchain platform for decentralized applications via smart contracts.
1. Avalanches (AVAX)
avalanche The price has seen a strong upward trend over the past week with bullish pressure pushing it higher. This momentum was fueled by increased investor interest and positive market sentiment, pushing the price to new local highs.
The Altcoin rose from the $35 level to surpass the $40 mark, reflecting a strong 23% increase over the past week. AVAX price has surged more than 9%, trading between $30 and $40 over the past month, with slight fluctuations.
AVAX Avalanche Chart | CoinGecko
Avalanche’s partnership with Game Launcher The launch of GameChain, a new layer 1 platform to simplify blockchain game development, could be a game-changer in the DeFi sector. GameChain, running on Avalanche, offers tools such as GameID, GameSocial and GameHub to improve user experience and community engagement.
The partnership will provide developers with an intuitive SDK and cross-bridge functionality, making it easier to create blockchain-based games.
Following this announcement, Avalanche saw a significant rise, indicating strong market approval. This collaboration opens new possibilities for game creators and enthusiasts, highlighting the growing integration of blockchain technology in the gaming industry. If this trend continues, AVAX could break the $41 resistance level and approach 50 $, potentially reaching $70 by the end of the month.
2. Bonk (BONK)
Crypto market rally has generated notable gains in major altcoins, with Solana based on Bonk standing out as one of the best performers, recording a 33% price increase.
An analysis of daily charts shows that the rally has developed an inverse head and shoulders pattern – a chart pattern often interpreted as bottom formation and a precursor to an extended rally.
Amid market excitement around the potential approval of ETH ETFs, the BONK Price recorded a 7.8% jump today and broke the $0.00003 neckline resistance.
Bonk Price Chart | CoinGecko
If Bonk price undergoes a recent breakout, buyers will get a suitable base to extend its rally to $0.000047, followed by $0.0000712.
Take away
As the crypto market outlook evolves positively, certain altcoins would present the best altcoin buying opportunities. The key to reducing risk is diversification, hence the need to include potential coins like Bonk and layer 1 projects such as Avalanche. The protocols differ in many ways but signal the possibility of a major breakthrough in 2024.
Related Articles