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This article identifies five recommended altcoins for investment as the bearish April month winds down.
The altcoin market faced a significant obstacle in April, with their prices hitting lower lows amid Bitcoin’s price instability. Now, with the month edging closer to an end, the crypto community anticipates a bull rally in May, especially following the Bitcoin halving ten days ago.
Amid this optimism, altcoin prices have continued to slide as Bitcoin shows sporadic signs of recovery followed by further declines. Nonetheless, market watchers eye a potential turnaround next month. In anticipation of this shift, The Crypto Basic has pinpointed five altcoins under $0.1 deemed promising for investment.
Shiba Inu
At press time, Shiba Inu sells for $0.00002397, having lost 21% of its value in the last 30 days. Shiba Inu merited this list given its position as the second most valuable meme coin and its strong potential to replicate past success.
Yesterday, The Crypto Basic uncovered that Shiba Inu’s price could soar by over 350% to enter the $0.0001 range next month. This projection emerged from Shiba Inu’s trajectory in 2021, in which it rallied by four-fold in May.
Moreover, numerous market analysts have proposed that Shiba Inu may likely repeat its 2021 history in this emerging bull season.
VeChain (VET)
VeChain (VET) hovers around $0.03895 at the time of reporting, bearing a 15% decline in its 30-day performance. VET emerges as a worthy investment asset based on the recommendation of multiple market observers.
For instance, analyst EGRAG has repeatedly emphasized VET’s potential to attain $1 in this bull market. In his view, VET is significantly undervalued to the extent that it could potentially set retail investors financially free when it ultimately explodes.
One of EGRAG’s most ambitious outlooks for VeChain is for the asset to soar as much as 6,061% to $2.4. Other analysts like Ali Martinez have expressed comparable bullish targets for VET in their analyses.
Besides its technicals, VeChain’s utility in the $18 trillion supply chain market is among the factors influencing the bullish forecasts.
SKALE (SKL)
While Shiba Inu and VeChain are large-cap cryptocurrencies, SKALE (SKL) emerges as a notable low-cap altcoin under $0.1. SKL trades at $0.0842, having relinquished over 31.46% of its gains over the past month to the bears.
SKL was among the notable performers of this season’s earlier phase bull run, growing by 342% from a low of $0.0282 before the bears set in this month. Three days ago, renowned market veteran Michaël van de Poppe spotlighted SKL among tokens that could expand three-fold against Bitcoin “with the lowest amount of risk.”
#Altcoins that can generate a 3x in BTC, with the lowest amount of risk:
– $OP
– $LINK
– $WOO
– $TIA
– $SKLIt's not that hard from these levels.
— Michaël van de Poppe (@CryptoMichNL) April 27, 2024
Rubic (RBC)
Similarly, analyst Ali Martinez identified RBC as a coin worth considering going into May 2024. In an analysis, Martinez argued that RBC was shaping an ascending triangle pattern on its 3-day chart.
He noted that a close above $0.0445 could trigger a significant 70% surge, potentially propelling the asset to $0.0767.
“Buy in before the breakout. Stake the coins, and gains can multiply as the bullish target approaches,” Martinez recommended.
BONK
The prominent Solana meme coin, BONK, once again surprised the crypto market with a massive comeback. Four days ago, it soared from the April 13 low of $0.00001257 to as high as $0.00002946.
This trajectory marks an explosive 134% gain during a period of significant bearish volatility. Interestingly, BONK continues to maintain most of the gains, despite Bitcoin’s influence this week, with its value sitting at $0.00002435 at last check.