Altcoin season continues discover the top three coins for potential 10x gains
Renowned cryptocurrency analyst Zero IKA, using his X handle, recently dispelled concerns about the death of altcoins and the obsession with meme coins by drawing parallels between current trends and past market cycles. He highlighted that during the 2020-21 bull run, the dominating narratives revolved around DeFi, governance tokens, and oracles, leaving many altcoins in a struggle. Despite doubts surrounding the possibility of an altseason, the strengthening of altcoins towards the end of the market cycle was evident through the performance of the ETH/BTC pair.
Zero IKA emphasized that in both the 2017 and 2021 cycles, coins like Komodo and TRX experienced significant surges only when ETH/BTC made a parabolic move towards the end of the cycle. This trend is common among many coins, which often rally late in the cycle unless driven by a compelling narrative.
Addressing the “altcoins are dead” and “It’s all about memes” mindset, Zero IKA stressed that the presence of institutional investors in previous cycles does not fundamentally alter the market dynamics today. The analyst concluded that the current market conditions align with expectations.
Delving into potential altcoin investments, the host of 99Bitcoins channel shared insights on three promising altcoins with a bullish outlook. Firstly, Not Coin, currently valued at $0.02, has demonstrated solid performance, consolidating and beginning to rally from $0.005 to $0.02. With the potential to reach a $10 billion market cap, a projected 5x increase by year-end makes it a favorable choice during the Bitcoin season.
Secondly, Chuan Pu, referred to as the Chinese Donald Trump, boasts strong branding and marketing potential. Despite recent corrections, Chuan Pu has shown significant growth, with a 15x increase before stabilizing. With a modest market cap of $6 million and decent liquidity, it presents an opportunity for a 3-5x increase.
Lastly, Turbo, an AI meme coin, has caught the attention of the analyst with a $2.5k investment. While its performance is yet to shine, Turbo is anticipated to excel in the upcoming meme mania phase. With a market cap of $317 million, it is considered a long-term hold with substantial growth potential.
In conclusion, the evolving landscape of altcoins presents a dynamic and exciting opportunity for investors looking to capitalize on the market trends.
Tags: Altcoins, Crypto news, Cryptocurrency, Price Analysis.