John Isige
Bitcoin price reclaimed the $70,000 mark on Monday after several days of an intense bullish campaign. The commendable 8% surge in 24 hours comes less than a week since BTC swept through lower level liquidity around $60,500 on some exchanges. Major altcoins like Ethereum (ETH), BNB, Solana (SOL), XRP, and more ignited rallies, encouraging investors to consider some of the top cryptos to buy to achieve 100X returns during the 2024 bull market.
As discussed earlier, traders may prefer leading yet small-cap altcoins to maximize gains comprising tokens like WIF, GALA, and JUP.
1. Solana (SOL)
Solana currently stands as the fifth-largest cryptocurrency, boasting a market cap of $85.47 billion, marking its significant footprint in the crypto world. Recently, the digital currency has experienced a surge in trading activity. In the last 24 hours, its trading volume spiked by 90%, reaching $4.05 billion.
Despite experiencing a slight decline of over 4% amidst volatility this past week, the altcoin is showing signs of a promising comeback. With SOL’s price approaching $200, it’s in a phase of consolidating its recent gains. Investors are now closely watching for a breakthrough at key resistance levels.
If the upward trend continues, SOL might see its price nearing the $210 mark soon. If the momentum remains positive, there’s potential for SOL to climb to $260, setting a new all-time high.
On the downside, any reversal in the trend could see its price dropping to the $80 support level. Further pressure from sellers might push SOL down to $150.
2. Dogecoin (DOGE)
As the largest meme coin, Dogecoin plays a significant role in shaping the future of this category of cryptocurrencies. It boasts $26.5 billion in market capitalization, ranking nine among other tokens.
Despite a 3% growth in DOGE’s price on Monday, there has been a 6% drop in the 24-hour trading volume hinting at reduced interest among traders.
Other meme coins like Shiba Inu (SHIB) and dogwifhat (WIF) have also been on the move, increasing by 6% and 18% respectively. Bonk, another Solana-based meme token, gained by 9% to trade at $0.000025 at the time of writing.
Investors in the meme coin segment are often attracted to the hype that culminates in explosive price surges and this bull run is no different.
Interest in Dogecoin tends to drive people to SHIB, WIF, BONK, and other lesser-known tokens to maximize profits during bull runs.
A recently confirmed golden cross propped the bullish thesis further as the 20-day EMA flipped above the 50-day EMA. This pattern reinforces the bullish outlook and encourages traders to seek exposure by taking more long positions in DOGE.
According to the position of the SuperTrend indicator on the same four-hour chart, the path of least resists is upward, which implies that Dogecoin price is far from exhausting the bullish trend and may top $0.2 in upcoming sessions.
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
