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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.
#1 Shiba Inu (SHIB)
Specifically, Shiba Inu (SHIB) is one of the altcoins that looks like a great investment opportunity for the end of 2024, particularly as one of its largest whales, which has profited over $120 million trading SHIB in its early days, has recently bought more than 700 SHIB tokens, demonstrating strong confidence in the meme token.
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.
#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.
#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.
#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.
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.