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Bitcoin Breaks Above $70,000 Resistance: Best New Cryptocurrencies to Buy Before the Next Bull Run
Bitcoin recently crossed the $70,000 mark, coming within $3,700 of its all-time high (ATH) of $73,700 set on March 14.
Previously, the $70,000 range served as a significant resistance level, causing Bitcoin to bounce three times below the $70,000 mark.
We are now a month and a half past the start of the Bitcoin halving and since then the cryptocurrency market has been in a phase of consolidation. This recent turn could indicate the start of an uptrend.
Speculation about potential rate cuts by the Federal Reserve in September may have contributed to Bitcoin’s rise. Factors such as inflation in the United States and a weaker job market appear to be pushing prices higher across the cryptocurrency sector.
This scenario raises a crucial question: What are the best new cryptocurrencies to buy right now?
According to experts, the answer probably lies in the next presales that we will tell you about today.
Let’s dive in.
PlayDoge ($PLAY) – Overall the best cryptocurrency presale to buy right now
First on our list is PlayDoge, a meme coin that many cryptocurrency influencers have called the best cryptocurrency to buy right now.
PlayDoge ($PLAY) is an innovative meme coin that combines the beloved Doge meme with a play-to-earn (P2E) gaming model.
This project offers a unique twist on virtual pet care, reminiscent of the Tamagotchi craze of the 1990s but enhanced with blockchain technology.
PlayDoge works via a mobile app where users can adopt, feed and care for a pixelated Doge puppy.
The game’s main appeal lies in its P2E mechanics, which allows players to earn $PLAY tokens by interacting with their virtual pet and completing in-game tasks.
These tokens can be used to stake, trade, or purchase in-game items, adding a layer of real value to the gaming experience.
PlayDoge’s key features include its engaging daily missions and challenges, which allow users to actively participate and earn rewards. Pet customization options allow players to customize their Doge with various accessories, enhancing the fun and interactive nature of the game.
Furthermore, the staking mechanism offers significant returns, incentivizing participation and long-term investment in the $PLAY ecosystem.
PlayDoge’s integration with both Google Play and the Apple Store ensures wide accessibility, further increasing its popularity.
The project has already seen notable success, raising over $2.6 million in pre-sales, highlighting strong investor confidence and interest.
With its combination of nostalgic gaming elements and modern blockchain rewards, PlayDoge is well positioned to truly live up to its nickname and become the best meme coin on the market.
BUY PLAYDOGE NOW AND START EARNING REWARDS WITH YOUR VIRTUAL PET!
Wiener AI ($WAI) – AI Meme Coin raises over $4.7 million in less than a month
Moving on to our list of the best cryptocurrencies, we come to Vienna AI a meme coin that cleverly combines artificial intelligence with an entertaining narrative.
The project has garnered significant attention, raising over $4.7 million in the pre-sale phase. WienerAI presents Cosmo, a cybernetic dachshund created from an experiment involving artificial intelligence and a sausage, symbolizing its bizarre yet innovative approach.
One of the most notable aspects of WienerAI is its advanced AI trading bot. This sophisticated bot scans cryptocurrency markets to identify optimal trading opportunities, executing trades at the best prices on various decentralized exchanges (DEXs).
This technology helps traders avoid top bots and maximize their earnings without incurring additional costs.
The $WAI token, an ERC-20 token on the Ethereum network, serves multiple purposes within the WienerAI ecosystem, including staking and trading.
The project incentivizes long-term ownership through lucrative staking rewards, offering annual returns in excess of 231% during pre-sale. This reward system promotes community involvement and encourages investors to hold on to their tokens.
Since the next price increase is expected in the next few days, now is the best time to do so invest in $ WAI to maximize profits.
With its mix of artificial intelligence, engaging narrative, and strong community incentives, WienerAI could easily increase its value 10x from its current price
INVEST IN WIENER AI TODAY TO ACCESS ADVANCED AI TRADING TECHNOLOGY!
Sealana ($SEAL) – Sealana presale gains traction with a big developer announcement on the horizon
While most meme coins compete for utility these days, a new contender, Sealana (SEAL), is rapidly gaining ground, without any tangible value. As one of the most anticipated crypto presale events this summer, Sealana is attracting significant attention.
Centered around a chubby seal mascot, Sealana has impressively raised over $3 million from early investors. THE SEAL the tokens are priced at just $0.022 each, demonstrating considerable interest from the thousands of followers on the project’s Twitter and Telegram channels.
The excitement around Sealana reached its peak recently when the development team hinted at a major upcoming announcement regarding an airdrop. With the promise of more surprises, Sealana aims to make a significant impact in June.
Currently, making an accurate price prediction is difficult, as the token is not yet available for trading on the open market.
Sealana chose not to establish a fixed tokenomic structure, increasing its appeal as a “pure meme” project.
Additionally, any decentralized exchange (DEX) listing for SEAL should be a few weeks away.
Despite these uncertainties, ongoing pre-sale momentum and an engaged community allow Sealana to significantly shake up the meme coin market.
BUY SEALANA TOKENS NOW AND JOIN THE NEXT BIG MEME COIN COMMUNITY!
Base Dawgz ($DAWGZ): A multi-chain meme coin with high potential
Base Dawgz ($DAWGZ) is an emerging meme coin built on Coinbase’s Base blockchain, designed to leverage the Base chain’s infrastructure known for its low transaction fees, high speeds, and strong developer support.
This setup makes it an ideal platform for meme coin projects, ensuring fast and cheap transactions, crucial to the success of such tokens.
The $DAWGZ token stands out for its multi-chain functionality. This feature allows it to operate on multiple blockchain networks, including Ethereum, BNB Chain, and Solana.
Using cross-chain bridging technology, Base Dawgz can seamlessly interact with these ecosystems, broadening its reach and tapping into diverse user bases and liquidity pools.
Additionally, Base Dawgz uses a share-to-earn model, incentivizing users to promote the project on social media platforms.
Participants can earn $DAWGZ token by sharing memes and content related to the project, which not only increases community engagement but also serves as an effective marketing strategy to attract new users and investors.
In just one day since its initial coin offering (ICO), Base Dawgz raised $250,000, reflecting strong interest and confidence from the crypto community.
The total supply of $DAWGZ is set at 8.453 billion tokens, with allocations for liquidity pools, community rewards, and marketing efforts, ensuring stable market conditions and promoting long-term growth.
Base Dawgz aims to capitalize on the current trend surrounding meme coins on the Base chain, presenting a substantial market opportunity if it can replicate the success of other meme coins such as BRETT and TOSHI.
PROTECT YOUR $DAWGZ TOKENS NOW AND BENEFIT FROM THE MULTI-CHAIN FEATURE!
Mega Dice ($DICE) – Revolutionizes the GameFi industry
Mega Dice ($DICE) is an innovative meme coin that integrates seamlessly with the Mega Dice gaming platform, aiming to revolutionize the GameFi industry by offering a unique, engaging and rewarding online gaming experience.
Bitcoin AND Etherealalong with the rest of the top 10 cryptocurrencies by market cap, appear to be in hibernation on Thursday morning.
At the time of writing, the Bitcoin Price is still below $65,000 and 2.2% lower than it was this time yesterday, according to CoinGecko data. Things are worse for the Ethereum Pricewhich is 3.7% lower than 24 hours ago at $3,185.22. The drop in ETH’s price is identical to that of Lido Staked Ethereum (stETH), a liquid staking token for Ethereum.
In recent days, falling prices have led to the liquidation of derivative contracts worth $225 million, according to Coin glassAnd about half of that, about $100 million, was liquidated in the last 12 hours.
When a trader is liquidated, it means that their position in the market has been forcibly closed by an exchange or brokerage due to a margin call or insufficient collateral. Margin is especially important when it comes to leveraged positions, which allow traders to control a multiple of their deposit, such as opening a $10,000 position with only $1,000 in their account.
Now that Bitcoin has been in the red for three days in a row, there is a chance that the world’s oldest and largest cryptocurrency could sink even further, BRN analyst Valentin Fournier said in a note shared with Decrypt.
“Bitcoin has closed in the red for three days in a row, with one-way trading showing limited resistance from bulls. Ethereum had a slightly positive Monday with strong resistance from bears who have won the last two days,” he wrote. “This momentum could take BTC to the $62,500 resistance or even the $58,000 territories.”
Looking ahead, Fournier said BRN’s strategy will be to “reduce exposure to Bitcoin and Ethereum and find a better entry point after the dip.”
This is despite Federal Reserve Chairman Jerome Powell’s comments yesterday on interest rates being widely regarded as accommodating and indicative of FOMC rate cuts in September.
Singapore-based cryptocurrency trading firm QCP Capital said the rally in stocks, which sent the S&P 500 up 1.6% from Wednesday’s close, was not felt in cryptocurrency markets.
“Cryptocurrencies have seen a broad sell-off overnight and into this morning,” the firm wrote in a trading note. “The market remains poised as traders pay close attention to daily ETH ETF outflows and further supply pressure from Mt Gox and the US government.”
Meanwhile, the other top-ranking coins are showing mixed performance.
Solana (SOL) is down 7.2% since yesterday to $169.13. Things are even worse for its most popular meme coins. In the past 24 hours, the most popular meme coins Dogwifhat (WIF) are down 12% and BONK (BONK) is down 9%, according to CoinGecko data.
Their dog-themed competitor, Ethereum OG Dogecoin (DOGE), the only meme coin in Coingecko’s top 10, is down nearly 4% since yesterday and is currently trading at $0.1205.
XRP (XRP) dropped to $0.608, which is 7% lower than it was at this time yesterday.
Binance’s BNB Coin (BNB) has kept pace with BTC and is currently trading at $571, down 2.4% from yesterday. Toncoin (TON), the native token of The Open Network, is down just 0.4% over the past day.
This leaves the stablecoins USDC (USDC) and Tether (USDT), both of which are stable as they maintain their 1:1 ratio with the US dollar.
The Securities and Exchange Commission (SEC) will hold another closed-door meeting with Ripple on Thursday, as the market hopes for a possible resolution to the legal battle between the two entities.
However, the cryptocurrency market remains relatively bearish, with the price and trading volume of XRP down in the last 24 hours.
Ripple holders take no risk
At press time, XRP is trading at $0.60. The altcoin’s price has dropped 6% over the past 24 hours. During that time, trading volume was $27 million, down 27%.
The SEC met before with the digital payment company on July 25. While the outcome of that meeting remains unknown, the Sunshine Act Notice for Thursday’s meeting includes one additional topic of discussion from the July 25 closed meeting: the instituting and resolving injunctive relief. That has market participants speculating whether a settlement is imminent.
In an exclusive interview with BeinCrypto, Ryan Lee, Lead Analyst at Bitget Research, noted that:
“This meeting will discuss possible resolution options for the Ripple Lawsuit. The founder of Ripple Labs said that a legal settlement could be announced soon. If an official settlement plan is released, it could positively impact XRP’s price movement.”
However, an assessment of XRP’s price movements on a 4-hour chart shows a spike in bearish bias as the market awaits the outcome of this crucial meeting. Its Moving Average Convergence/Divergence (MACD) indicator readings show that its MACD line (blue) has crossed below its signal line (orange).
XRP 4 Hours Analysis. Source: Trading View
Traders use this indicator to gauge price trends, momentum, and potential buying and selling opportunities in the market. When an asset’s MACD is set this way, it is a bearish signal that suggests selling activity is outweighing buying momentum.
Additionally, the altcoin relative strength index (RSI), at 46.08, is currently below its neutral 50 line and in a downtrend. This indicator measures overbought and oversold market conditions for an asset.
To know more: How to Buy XRP and Everything You Need to Know
XRP 4 Hours Analysis. Source: Trading View
At 43.83 at the time of writing, XRP’s RSI suggests a growing preference among the market participants for tokin distribution.
XRP Price Prediction: Derivatives Traders Exit Market
The XRP derivatives market has also seen a decline in trading activity over the past 24 hours. According to Coinglass, derivatives trading volume has plummeted 18% and open interest has dropped 10% during that period.
Open interest refers to the total number of outstanding derivative contracts, such as options or futurethat have not yet been resolved. When it drops, traders close their positions without opening new ones. This is a bearish signal that reflects a lack of confidence in any potential positive price movement.
According to Lee, the outcome of the meeting with the SEC “would have a significant impact on the price movement of the token.” If the outcome is favorable, the price of the token could rise towards $0.75 in August.
To know more: Ripple (XRP) Price Prediction 2024/2025/2030
XRP 4 Hours Analysis. Source: Trading View
On the other hand, if no favorable resolutions are reached, the price could plummet to $0.50.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto strives to provide accurate and unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our Terms and conditions, Privacy PolicyAND Disclaimers They have been updated.
Bitcoin is now the dominant force in the cryptocurrency market, surpassing 53% of the total cryptocurrency market, a stronger share than it has been in the past three years.
Bitcoin’s market cap now stands at $1.27 trillion, second according to CoinGecko data. In contrast, the total cryptocurrency market cap is $2.43 trillion, with Ethereum occupying 15.9% of the market, worth $389 billion.
Bitcoin’s rise to dominance this year is unusual, as altcoins typically do better than Bitcoin in a bull market. While meme coins made a strong comeback during Bitcoin’s rally to all-time highs earlier this year, the so-called “wealth effect” It has not been appreciated as much by mid-range coins, such as Ethereum and Cardano.
“ETF flows fundamentally alter market dynamics,” he wrote Meltem Demirors, former chief strategy officer at CoinShares, tweeted Wednesday: “BTC gains no longer translate to alts and the longer tail of crypto.”
Bitcoin’s takeover has continued even as the market cap of Tether (USDT) continues to grow, the world’s largest stablecoin and the third-largest cryptocurrency after BTC and ETH. Stablecoins are backed by fiat currencies and are excluded from some measures of Bitcoin dominance due to fundamentally different value models.
The surge continued to pace even after the launch of Ethereum spot ETFs last week, which ironically culminated in a news sell-off event, and net outflows from new investment products since they were launched. This went against the predictions of K33 Search so far, which predicted that ETFs would catalyze ETH’s growth over the next five months.
Despite the poorer performance of the alts, there is reason to believe that they are ready to bounce back very soon.
CryptoQuant CEO Ki Young Ju said Tuesday that whales are “preparing for the next altcoin rally,” as limit buy orders for assets other than BTC and ETH are on the rise.
The executive shared a chart showing how the “cumulative difference between purchase volume and sales volume” has increased in recent months.
“The indicator measures the difference between buy and sell orders over a year,” CryptoQuant told Decrypt. A buy/sell order is a pre-set request to buy or sell a cryptocurrency if it hits a certain price level, which creates resistance and support levels.
“If the trend is up, it means that more people are placing buy orders, showing strong interest in buying,” CryptoQuant said.
By Ryan-Ozawa.
After Monday’s crash, in which BTC fell by several thousand dollars, the scenario has repeated itself once again in the last 12 hours, with the asset falling to a 2-week low of $63,300.
Alt coins followed suit, with most of the market in the red today. SOL and XRP lead the way from the higher cap alts.
BTC Drops To $63.3K
After a violent Thursday last week, when BTC crashed to $63,400, the asset went on the offensive over the weekend and surged above $69,000 on Saturday, as the community prepared for Donald Trump’s appearance at the 2024 Bitcoin Conference in Nashville.
His speech was followed by more volatility before the cryptocurrency settled around $67,500 on Sunday. Monday started off rather optimistically for the bulls as bitcoin hit a 7-week high of $70,000.
However, he failed to maintain his run and conquer that level decisively. On the contrary, he was rejected bad and dropped to $66,400 by the end of Monday. Tuesday and Wednesday were less eventful as BTC remained still around $66,500.
The last 12 hours or so have brought another crash. Bears have pushed the leading digital asset down hard, which has fallen to a 2-week low of $63,300 (on Bitstamp), leaving over $200 million in liquidations.
Despite the current rebound to $64,500, BTC’s market cap has fallen to $1.270 trillion, but its dominance over alts is recovering and has reached 52.6%.
Bitcoin/Price/Chart 01.08.2024. Source: TradingView
The Alts are back in red
Ripple’s native token has been at the forefront of the market challenge in recent days as pumped up to a multi-month high of over $0.66. However, its run was also interrupted and XPR fell by more than 6% in the last day to $0.6.
The other big loser among the larger-cap alternatives is SOL, which has lost 8% of its value and is now struggling to get below $170.
The rest of this altcoin cohort is also in the red, with ETH, DOGE, BNB, AVAX, ADA, SHIB, and LINK all seeing drops between 2 and 5%.
The total cryptocurrency market cap lost another $70 billion overnight, falling below $2.4 trillion today on CG.
Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (sponsored)
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Cryptocurrency Charts by TradingView.
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“Buy the fucking DIP! That’s why this accident is all noise ” – Planb & Raoul Pal
Biotechnological agenda exposed! This is purely diabolical … – The shocking revelation of Whitney Webb
Michael Saylor – “Beyond Epic! The Coming Bitcoin Rally will change many lives”
“Phase 2 is coming! Prepared for the longest market of Crypto Bull ever” – Raoul Pal and Joe McCann
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