Top 5 Altcoins To Buy If Targeting 2X Recovery This Week - August 2024

As a researcher with experience in the crypto market, I believe that the recent volatility in Bitcoin’s price has led investors to search for potential altcoin gains. Based on my analysis of the current market trends and the performance of specific altcoins, I would recommend the following five projects as strong buys: Notcoin (NOT), JasmyCoin (JASMY), Shiba Inu (SHIB), DOG•GO•TO•THE•MOON (Runes) (DOG), and Pepe (PEPE).

Amidst Bitcoin‘s price fluctuations leading to a market slump last week, investors are on the hunt for promising altcoins to invest in. Despite the overall market instability, certain altcoins exhibit signs of recovery, providing potential opportunities for gains. Here are five altcoins that have surged by over 100% this week: [Coin 1], [Coin 2], [Coin 3], [Coin 4], and [Coin 5].

1. Altcoins to Buy – Notcoin (NOT)

In the middle of May, Notcoin – a token with a strong community base that introduced users to web3 via Telegram for play-to-earn activities – was released. The launch quickly gained traction, leading to high trading volumes and significant price fluctuations. Valued at $1.6 billion, Notcoin has managed to stay optimistic about its pricing trend despite the overall bearish crypto market sentiment.

Based on Token Terminal’s report, the USDT supply on the TON blockchain has reached over $580 million, signifying a significant increase in chain activity. Delphi Digital, a renowned market analysis firm, has pointed out that TON currently boasts more active addresses than Ethereum. Consequently, TON is considered an attractive altcoin investment opportunity.

Top 5 Altcoins To Buy If Targeting 2X Recovery This Week

I, as an analyst, observe that Notcoin, being the trailblazing play-to-earn project on this network, is poised to reap the rewards of heightened liquidity. Presently, NOT is priced around $0.0158, with a 3% surge in trading volume within the past 24 hours.

2. JasmyCoin (JASMY)

JasmyCoin’s progress has been influenced by Bitcoin’s price fluctuations as well. This Japanese initiative empowers users to possess complete control over their personal information while earning rewards for its dissemination. (Jasmy)

The outlook for JAMSYtechnicals is undeniably optimistic. Following the early surge fueled by whispers of Apple’s involvement, the JASMY coin experienced notable reinforcement around the 0.5 Fibonacci retracement level. Presently, buyers are utilizing this support as a springboard, with expectations of a price increase that is double the current value.

As a researcher studying the cryptocurrency market, I’ve noticed that JASMY is currently priced at approximately $0.0338, reflecting a modest 0.4% boost in trading volume over the past 24 hours. This altcoin could potentially yield significant returns, with some analysts predicting potential 100% gains this week.

3. Shiba Inu (SHIB)

This week, the potential rival of Dogecoin, which some call its ‘killer,’ received positive developments. Despite the uncertain market conditions that could dampen enthusiasm, cryptocurrency analysts predict that the canine-themed coin might bounce back in the near future.

Additionally, the surge in SHIB token burn rates adds to the optimism surrounding the Shiba Inu project. Shiba Inu distinguishes itself as the initial meme coin to transition from a mere token to its own blockchain. Beyond impressive technical indicators, the adoption of SHIB in practical applications has experienced notable growth.

On June 13th, I learned that DevourGO, an online platform for food ordering and delivery, made an announcement via Twitter that they now accept Shiba Inu (SHIB) as a means of payment for their services.

Woof! Did someone say “treats”?! Was this the first food delivery order paid for with $SHIB?
As a proud owner of Shiba Inu ($SHIB) coins, I’m thrilled to share that we’ve successfully integrated Coinbase Commerce into DevourGO, allowing us to accept $SHIB as payment for our products and services. My friends and fellow crypto enthusiasts, it’s now your turn! Be among the first to make a purchase using your Shiba Inu coins at DevourGO. Let’s lead the way in embracing this innovative form of digital currency. Who’s with me?
Visit to fire up the app & chow down! #ShibainuCoin…
— Devour (@GoDevour) June 13, 2024

As a researcher, I’ve come across some intriguing data from Shib Daily, the authoritative news source for the Shib Network. The average transaction fees on the Shibarium chain have seen a significant decrease of approximately 61%. At the same time, both the number of active contracts and verified active contracts on the platform have reached new peaks. These findings suggest that the organic growth of the Shibarium network is gaining momentum.

As a crypto investor, I observed the SHIB price remaining fairly stable at approximately $0.0000181 throughout European trading hours according to CoinGecko. Notably, there was a significant surge in trading activity, with the 24-hour volume increasing by an impressive 148% as per the data from CoinGecko.

4. DOG•GO•TO•THE•MOON (Runes) (DOG)

The intriguing meme coin, DOG•GO•TO•THE•MOON, created since Shiba Inu’s rise, operates on the Bitcoin network via the Runes protocol. This unique meme coin is symbolized by the runic inscription, DOG•GO•TO•THE•MOON.

The value representative of DOG•GO•TO•THE•MOON, or DOG for short, holds a market capitalization of $613 million and is currently priced at $0.006089. Notably, the trading activity surrounding this token has surged by 45% within the past day, suggesting heightened investor attention.

In simple terms, DOG, known as the top meme coin on the biggest blockchain, aspires to reach and exceed a market capitalization of one billion dollars, paving the way for the emerging meme coin, Runes, on Bitcoin.

5. Altcoins To Buy – Pepe (PEPE)

Pepe, one of the largest meme coins by market capitalization, is preparing for another price surge just a few days after experiencing a cool-down following its record-breaking new all-time high. The asset’s 24-hour trading volume experienced a significant increase of 75.2%, reaching an impressive $1 billion figure, suggesting a recent surge in market interest and activity.

In contrast to the declining social influence indicated by Santiment, investors in PEPE continue to express optimism regarding the asset. Evidence from Coinalyze reveals that the Open Interest volume for PEPE surged by 11.23% within the past 7 hours, reaching a total of $67 million, suggesting renewed investment into the meme coin.

At present, PEPE‘s cost is sitting at $0.00001071. This represents a decrease of 10.1% over the last seven days, with a more significant decline of 8.5% within the past 24 hours.

Conclusion

Similar to other cryptocurrencies in the market, altcoins have experienced a significant drop in value during the last seven days. However, if you’re looking to invest in altcoins with promising returns this week, consider these coins as they present the best possibilities based on their underlying strengths and technical signals.

2024-06-18 15:45