As a seasoned crypto investor with a knack for spotting trends and potential winners, I find myself intrigued by the trio of Solana (SOL), Dogecoin (DOGE), and Binance Coin (BNB) as we approach 2024. Each of these coins has its unique strengths and weaknesses, but after careful analysis, I am inclined towards Solana as my top pick for leading the bull run in 2024.
Over the last fortnight, the altcoin sector of the cryptocurrency market has seen substantial expansion, fueled largely by anticipation concerning potential U.S. Federal Reserve interest rate reductions. During this resurgence, Solana, Dogecoin, and BNB Coin have garnered considerable interest from investors on account of their recent advancements. But which of these three could spearhead the bull market in 2024?
Dogecoin vs. Solana vs. BNB: Who’s Set to Soar in 2024’s Price Rally?
After Bitcoin‘s price rise surpassing $60k, there has been increased speculation about a possible bottom forming in the ongoing correction trend within the crypto market. With Q4 looking favorable for digital currencies, the question arises: Which of these three altcoins is likely to outshine its competitors?
Solana (SOL)
1) Leading blockchain platform Solana takes the top spot on our list following the flurry of advancements showcased at the Breakpoint Conference 2024 in Singapore. Furthermore, at Token2049, Solana Labs presented the Seeker smartphone – an upgraded version boasting superior hardware and a more affordable price compared to its previous model.
During these occurrences, the projected price of Solana has experienced a significant jump from $128.9 to $149 this week, representing a 15% increase. If buying pressure continues, the Solana price could rise another 21%, aiming to surpass the resistance of a flag pattern that’s been in place for several months at around $180. This positions Solana for a potential further upward trend.
Dogecoin (DOGE)
Dogecoin, the leading meme-based cryptocurrency by market capitalization, has transitioned from its previous downward trend to hovering around the $0.091 support level, moving sideways instead. The bullish sentiment surrounding Dogecoin gained strength following the dismissal of a lawsuit against Elon Musk and Tesla Inc., which had alleged that they artificially inflated the price of Dogecoin in what was termed as a massive “pyramid scheme” worth approximately $258 billion.
After the legal success, talks about Dogecoin being accepted in Tesla vehicles resurfaced, fueling optimism among investors. Over the last fortnight, the Dogecoin price climbed from $0.091 to $0.108, representing a 18.4% increase, and the market capitalization swelled to $15.8 Billion.
Contrary to Solana’s price, the value of this meme coin is nearly at a 7% distance from a significant surge over the $0.115 barrier, suggesting a possible further upward trend.
For a detailed analysis, check out the top meme coin articles.
Binance Coin (BNB)
In just two weeks, the BNB coin saw a significant change in direction, rising from $471 to $583 – a jump of 23.8%. This surge can be attributed to the broader market’s upward trend, as well as the upcoming release of Changpeng Zhao, the former CEO of Binance, from Long Beach RRM, a federal facility in San Pedro. It’s likely that this event has contributed to the price recovery.
Contrary to Dogecoin, the price of Binance Coin is just 2.5% shy of attempting to surpass its long-standing resistance at $600. If it manages to break through this level, the demand could significantly increase, potentially propelling the coin above $800.
Conclusion
In the near future, it appears that both Dogecoin and Binance Coin prices are set for a significant surge. Meanwhile, the constant advancements in Solana’s development might propel its native cryptocurrency, SOL, to spearhead the price surge in 2024.
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2024-09-21 19:32