Although many assets in the cryptocurrency market are struggling to maintain their bullish momentum, taking the lead from the market’s representative – Bitcoin (BTC) – some altcoins, still worth under $1 per wholecoin, represent a great purchase for the end of this year.
Indeed, this has been a bullish year for the majority of participants in the crypto sector, as many digital assets are recording constant increases, marked by occasional hiccups, but these four altcoins should not have many obstacles to explosive growth by late 2024.
SHIB trader transaction data. Source: Lookonchain
Indeed, Shiba Inu, the token in which this trader has invested more than $18 million, is currently trading at $0.00002527, down 1.09% on the day, also declining 2.40% across the previous week, but nonetheless an increase of 11.23% in the last month, as per data on June 7.
Shiba Inu price 30-day chart. Source: Finbold
#2 XRP (XRP)
Secondly, XRP is generating optimism thanks to the continuous legal wins in the courtroom battle between blockchain company Ripple and the United States Securities and Exchange Commission (SEC), with one analyst suggesting its consolidation period could end with a massive breakout.
$XRP has consolidated for more than 700 days . Long consolidations usually breaks out big and squeezes up . Break out of this range and retouch is a good entry for long term . Let’s wait and see pic.twitter.com/Nzoy1dtmXm
— Blockchainedbb (@blockchainedbb) June 4, 2024Meanwhile, the XRP token costs $0.52442, which suggests no price change on the day, a gain of 0.91% in the past week, while also accumulating an advance of 0.66% on its monthly chart, according to the most recent charts retrieved by Finbold.
XRP price 30-day chart. Source: Finbold
#3 Dogecoin (DOGE)
Meanwhile, Dogecoin (DOGE) has shown potential reflected in heightened interest coming from the market’s largest holders, as observed by crypto expert Ali Martinez, as well as showing technical analysis (TA) indicators that point to an imminent breakout, similar to its past chart patterns.
#Dogecoin whales have bought an additional 200 million $DOGE since May 30! pic.twitter.com/gjeoGWMM4R
— Ali (@ali_charts) June 4, 2024At the moment, Dogecoin is changing hands at the price of 0.16099, recording a slight decline of 0.37% on the day while advancing 0.95% over the week, and the popular doge meme token making a positive growth of 8.55% in the last 30 days alone.
Dogecoin price 30-day chart. Source: Finbold
#4 Cardano (ADA)
Finally, Cardano (ADA) is currently awaiting for its next critical update – the Chang hard fork set for late June, with an aim to bost governance, functionality, and responsiveness in the bull market, which might ignite a price rally for the popular token after it takes place.
According to Cardano pioneer Charles Hoskinson, its main advantage is the Proof-of-Stake (PoS) Ouroboros protocol:
“The advantage of Proof-of-Stake is that because you don’t have that gargantuan overhead and energy expenditure for deciding who gets to make a block, it means you can put a lot of your magic in the other two stages. So you end up getting protocols that are much lighter and massively more energy efficient.”
For now, Cardano is trading at the price of $0.46349, writing down a growth of 1.09% in the last 24 hours, as well as advancing 3.32% across the previous seven days, adding up to the 4.76% increase accumulated on its monthly chart, as per data on June 7.
Cardano price 30-day chart. Source: Finbold
Conclusion
Ultimately, the above four altcoins – the crypto assets other than Bitcoin – might represent a great opportunity as the year 2024 draws to its end, but things in this sector can sometimes change on a whim, so doing one’s own research and weighing all the risks is critical when investing in them.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
