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Jimmy Aki
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Jimmy Aki
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Bitcoin’s rally, which has driven its price up by 40% since October 13, reached a new all-time high of $93,432.
This surge in Bitcoin’s value has led to growing confidence in the cryptocurrency market, particularly for altcoins like Dogecoin, Bonk, and Cronos, which are gaining traction as some of the best crypto to buy now.
Glassnode reports that investors have claimed approximately $20.4 billion in realized profits since Bitcoin entered its discovery phase.
Despite slightly cooling to around $92,500 as of writing, Bitcoin’s momentum has reignited interest in potential altcoin rallies, particularly for popular meme and utility tokens.
In addition to Bitcoin’s rise, U.S.-based spot Ether ETFs have experienced inflows on November 11, reaching a record-breaking $295 million, signaling increasing institutional support for altcoins.
Against this backdrop, notable cryptocurrencies like Dogecoin (DOGE), Bonk (BONK), and Cronos (CRO) are gaining traction as some of the best crypto to buy now.
Below is an in-depth look at these trending cryptocurrencies.
Dogecoin (DOGE): Strong Technical Indicators Fueling Renewed Investor Confidence
Dogecoin has been one of the strongest performers in the altcoin space, with a 240% increase over the past 30 days, bringing its market cap to $60 billion.
These gains have caught the attention of both retail investors and analysts, making DOGE a prime contender among the best crypto to buy now.
DOGE has climbed to sixth in the crypto rankings, with weekly gains of over 90%, underscoring renewed interest from retail investors.
On a technical front, DOGE has outperformed its 20-day EMA at $0.215 and its 50-day EMA at $0.166, reinforcing its bullish trajectory.
Increased network activity is also evident, as highlighted by IntoTheBlock’s report of over 6 million transactions processed in the past week.
Santiment data further shows a significant rise in wallet addresses with less than 100,000 DOGE, indicating heightened interest among smaller investors.
Political developments may further propel Dogecoin’s ascent. The recent U.S. election win of Donald Trump, who appointed Elon Musk to lead a newly proposed Department of Government Efficiency (DOGE), has added symbolic momentum.
Given its recent momentum, many investors are eyeing the $1 mark as a potential price target for DOGE, further fueling interest in the token as one of the best crypto to buy now.
BONK (BONK): Technical Breakouts and Key Resistance Levels Boosting Momentum
BONK has also emerged as one of the best crypto to buy now, boasting a 77% gain over the past 7 days.
After breaking through its October 1 resistance level, BONK has shown signs of continued upward momentum.
The meme coin, associated with Solana, has climbed to $0.000034, its highest point in over five months.
Having flipped its October 1 resistance level of $0.00002613 into support, BONK displays bullish signals, including a recent golden cross pattern formed by the 50-day and 200 WMA. Historically, such crossovers suggest continued upward momentum.
BONK’s appeal surged after its recent listing on Binance.US, providing new trading opportunities and contributing to an impressive $60 million trading volume on decentralized exchanges (DEXs) over two days.
Despite BONK’s current price, a significant climb to $0.01 would require a 28,456% increase—an unlikely feat in the short term.
Cronos (CRO): Trading Volume Surge and Key Support Levels Propel Growth
Similar to BONK, Cronos has also attracted attention due to its strong performance and trading volume increase, marking it as one of the best crypto to buy now.
Cronos has been gaining traction, with a 91.26% price increase in the past week and a surge in trading volume, hitting $1.24 billion.
With this momentum, CRO trades above the $0.14 resistance level, a critical point that, if sustained, could act as a support floor and propel CRO toward a price target of $0.22.
Cronos’ trading volume increase is accompanied by a rise in open interest, which currently stands at $17.8 million.
This uptick signals increased participation from traders, providing additional liquidity and reinforcing the strength of CRO’s rally.
Better Alternatives to Consider
As Bitcoin’s bull run continues, investors are keeping an eye on meme coins and altcoins like Dogecoin, Bonk, and Cronos, which are currently some of the best crypto to buy now, along with other up-and-coming opportunities in the market.
This environment could trigger a self-sustaining altcoin rally as investors anticipate further gains across various tokens.
Cryptonews.com has compiled a list that could potentially provide investors with insights into promising meme coin presales in November 2024 before they hit exchanges.
18 Best New Meme Coins to Buy in November 2024
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
