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- Santiment highlights GALA and DODO as promising altcoins with recent price surges.
- MAGIC sees a positive price trajectory, hinting at a potential rebound.
- Altcoin market recovery is possible as Bitcoin’s dominance declines, but BTC’s weakness could affect altcoin liquidity.
As the cryptocurrency market continues its rollercoaster ride, one thing is becoming clear: the altcoins are on the verge of a massive rally. According to Santiment, a renowned market intelligence platform, DODO, Gala (GALA), and Magic (MAGIC) are some of the altcoins that investors should be watching closely.
🫣 #Altcoins have shown some mild signs of life thus far this week, but certainly not enough to make up for big trader losses that have accumulated since June. With that said, many are seeing historic opportunities to rise, such as $DODO, $GALA, $MAGIC, $MASK, and $SRM. pic.twitter.com/pXw43vCRmt
— Santiment (@santimentfeed) September 6, 2023
GALA, the blockchain dedicated to gaming, has been grabbing headlines as the gaming and metaverse sectors surge in popularity. Trading at approximately $0.0160, GALA has witnessed more than a 2% increase in the past 24 hours. With its price approaching a critical support level and a significant uptick in daily trading volume, GALA is poised for a potential rebound.
On the other hand, DODO, an emerging decentralized exchange operating on Ethereum and Binance Smart Chain, has seen its governance token’s value soar, reaching approximately $0.1097. This surge suggests that DODO might be on the cusp of a significant rally.
MAGIC, an innovative cross-game ecosystem that connects players, metaverses, and communities within Web 3.0 platforms, has seen its price rise by almost 3 percent in the past 24 hours, stabilizing at around $0.5137.
The recent weakening of Bitcoin’s (BTC) dominance over the cryptocurrency market has ignited hopes of an impending altcoin season. Bitcoin has been losing its year-to-date bullish momentum, making way for the altcoins to shine. Therefore, cryptocurrency experts are closely monitoring GALA, DODO, and MAGIC as they exhibit promising signs of significant price movements.