The altcoin market is showing some signs of support, much like Bitcoin. However, it’s crucial to recognize that we’re still in a period of uncertainty. Both Bitcoin and the altcoin market cap chart have not made decisive moves yet.
An altcoin season occurs when Bitcoin’s dominance decreases, allowing altcoins to gain traction. Currently, we are not in an altcoin season, as Bitcoin dominance is rising. For an altcoin season to start, Bitcoin needs to break through its all-time highs while showing a downward trend in dominance. But which coins should you focus on?
Analyst Ellio Trades took to his latest analysis and talked about a “high conviction bucket,” which is basically a group of investments you really believe in. Next, he mentioned the “zero Infinity bucket,” where he lists his top picks: gaming, AI, and memes. Since mid-2023, these categories have really stood out.
Gaming had a big surge in the fourth quarter of 2023, followed by waves in AI and memes. While the gaming market has seen a reset, some coins, especially the ones he’s fond of, haven’t been hit as hard.
He also discussed real-world assets (RWAs), particularly in relation to BlackRock. Layer ones, like Ethereum competitors, are also important but are now valued much higher than in the past, making them less of a bargain.
In gaming, he’s bullish on Immutable, which has the most games, and Beam, which is also a strong play. Ronin has a huge user base, and Superverse is seen as the “community coin” of gaming.
For memes, he recommends sticking with established coins instead of chasing new ones. He likes Pepe and MOG because they’ve performed well. If you’re looking for coins on the Solana blockchain, he suggested Dogwifhat and Popcat, which are currently very popular. When discussing AI, he pointed out a few promising projects like AOS, Destra, and BitTensor.
He suggested treating AI investments like meme coins, focusing on hype and narratives. For layer ones, he mentioned Celestia and Say Network as the ones to watch. Although the market is bigger now, making it harder to find bargains, he believes there’s still potential. The analyst believes that these top picks will be 20x by December.
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