10 Plus Altcoins Set to Skyrocket 20x by December: Is the Next Altseason Here?
Release: 2024/10/04 18:04 Reading: 362
Altcoin Market: Signs of Support amidst Uncertainty
Similar to Bitcoin, the altcoin market exhibits some indications of stability. However, it remains crucial to acknowledge that uncertainty persists. Both Bitcoin and the altcoin market cap chart have yet to demonstrate decisive movements.
Altcoin Season Dynamics
An altcoin season materializes when Bitcoin's dominance declines, allowing altcoins to gain momentum. Currently, we do not observe an altcoin season as Bitcoin's dominance ascends. For an altcoin season to emerge, Bitcoin must surpass its historical highs while its dominance trend declines.
Analyst's Insights and Recommendations
Analyst Ellio Trades identifies a "high conviction bucket" of favored investments and a "zero Infinity bucket" featuring standout sectors: gaming, AI, and memes. These categories have exhibited strong performance since mid-2023.
Within gaming, Immutable with its extensive game portfolio and Beam emerge as promising options. Ronin possesses a sizable user base, while Superverse gains recognition as the "community coin" in gaming.
For memes, the analyst advises investing in established coins like Pepe and MOG. Alternatively, on the Solana blockchain, Dogwifhat and the popular Popcat warrant consideration.
In the realm of AI, AOS, Destra, and BitTensor present potential investment opportunities. The analyst suggests treating AI investments akin to meme coins, emphasizing hype and narratives.
Regarding layer ones, Celestia and Say Network are projects to monitor. Despite the expanded market, the analyst maintains that untapped potential exists. Optimistically, the analyst projects a potential 20x return on these top picks by December.
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