Altcoin season is intact, here’s a list of top three coins to stack for 10x gains
The post Altcoin season is intact, here’s a list of top three coins to stack for 10x gains appeared first on Coinpedia Fintech News
Cryptocurrency analyst Zero IKA took his X handle and addressed concerns about altcoins being “dead” and the focus on meme coins by comparing current trends to past market cycles. During the 2020-21 run, the main narratives were DeFi, governance tokens, and oracles, while most altcoins struggled. Many doubted the potential for an altseason, but the ETH/BTC pair showed that altcoin strength often increases near the end of the market cycle.
To illustrate, Zero IKA pointed out that in 2017 and 2021, coins like Komodo and TRX only surged at the end of the cycle when ETH/BTC made a parabolic move. This pattern is common for many coins, which typically rally late in the cycle unless driven by a strong narrative.
This is something for the "altcoins are dead" + "It's all about memes" bros.
During the 2020/21 run, until TOTAL 3 didn't break the complacency shoulder resistance (
) the trending narratives were DeFi, governance tokens, oracles and few others while 90% of the altcoins were… pic.twitter.com/B2eY1HMYkd
— ZERO IKA
(@IamZeroIka) June 14, 2024
He also noted that institutional investors were active in previous cycles, so their presence now doesn’t fundamentally change the market dynamics. The analyst concluded that current market conditions are as expected.
Which altcoins should you focus on?
Host of the channel 99Bitcoins took to his latest video and stated that he is focusing on three major altcoins with a bullish outlook.
The first coin highlighted is Not Coin, valued at $0.02, with the analyst holding a substantial position. Over the past month, Not Coin has consolidated and is beginning to rally again, showing incredible performance from $0.005 to $0.02. The analyst believes it could reach a $10 billion market cap, potentially achieving a 5x increase by the end of the year, making it a solid choice during the Bitcoin season.
The second coin is Chuan Pu, dubbed the Chinese Donald Trump. This coin has great branding and marketing potential, with a newly launched website and plans for future developments. Despite some recent corrections, Chuan Pu has shown massive growth, achieving a 15x increase before stabilizing. It has a low market cap of $6 million and a decent liquidity score, making it a potential candidate for a 3-5x increase.
The third coin is Turbo, an AI meme coin. The analyst has invested $2.5k in Turbo, which has yet to show strong performance but is expected to thrive in an upcoming meme mania phase. With a market cap of $317 million, Turbo is seen as a long-term hold with major potential for future gains.
