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Qadir AK
Qadir AK
Author
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Nov 11, 2024 09:59 UTC
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Which Crypto To Buy Now? Top Altcoins for the Upcoming Altseason
The recent Bitcoin price surge has triggered a revival in the altcoin market, with Ethereum, Dogecoin, and Solana leading.
With Bitcoin dominance peaking near 60%, a potential reversal could soon lead to more gains for altcoins.
Pro-crypto US political climate and increased institutional investment are further fueling the bullish outlook.
Bitcoin’s (BTC) entry into the price discovery phase of the 2024/2025 bull run has breathed new life into the altcoin market, with Ethereum (ETH), Dogecoin (DOGE), and Solana (SOL) taking the lead. As of Monday, November 11, the crypto market cap (excluding Bitcoin and Ethereum) has jumped to about $717 billion, recovering from a key support level during the mid-London session.
With Bitcoin dominance nearing a major resistance level of around 60%, a reversal could be on the horizon. This could trigger the start of the long-awaited altseason, driving altcoins into a parabolic rise.
At the same time, growing support for pro-crypto US candidates, led by Donald Trump, and a significant flow of capital into crypto investment products are helping to strengthen the overall bullish sentiment.
We can only best describe this as crypto euphoria – something we have all been waiting for the longest time! Read on to know what’s next.
Top Altcoins to Watch Ahead
Memecoins: Floki (FLOKI)
After Dogecoin (DOGE) surged over 85% last week, other meme coins are following suit, with Floki (FLOKI) leading the way. With more than 417,000 on-chain holders, Floki saw a 44% increase last week, breaking out of a long-standing falling wedge.
This mid-cap altcoin, valued at $1.76 billion (fully diluted) with an average daily trading volume of $1.4 billion, is poised to enter its own parabolic phase.
DeFi Space: PancakeSwap (CAKE)
The DeFi sector continues to play a major role in the widespread adoption of digital assets. Many experts believe DeFi-related altcoins will perform well in the coming months, especially with anticipated regulatory clarity in the United States.
PancakeSwap (CAKE), a small-cap altcoin with a fully diluted valuation of $769 million and daily trading volume around $162 million, has already made a significant impact. Listed on Binance, the project has grown into a leading decentralized exchange (DEX), with a total value locked (TVL) of over $1.27 billion.
Layer One (L1): Filecoin (FIL)
The Layer-One sector, focused on tokenizing real-world assets (RWA) and supporting DeFi development, is expected to unlock trillions of dollars in value. In this space, Filecoin (FIL) is showing potential for a bullish breakout after being stuck in a long-term downtrend.
As the crypto market enters this exciting new phase, all eyes are on the altcoins that could soon take center stage. Stay tuned for updates on them!
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