As November approaches, the cryptocurrency market gears up for potential gains, with Bitcoin’s rally reigniting investor interest. Bitcoin has recently seen an uptrend, fueling other altcoins. However, market dynamics suggest that select altcoins could surpass Bitcoin’s performance as momentum builds in November.

3 Cryptocurrencies Set to Outshine Bitcoin in November

Bitcoin price surged 5.4%, reaching over $71,200 as the crypto market gained momentum ahead of the U.S. elections. Here’s a look at three cryptocurrencies poised for significant gains as market conditions remain favorable.

Dogecoin (DOGE)

Dogecoin (DOGE), a popular meme-based cryptocurrency featuring the Shiba Inu from the viral “doge” meme, has seen a notable rise. The latest DOGE price has increased by 15% within the past week to reach $0.165. Over the past year, Dogecoin’s value has surged by 139%, reflecting an upswing in investor interest and hinting at potential outperformance over BTC in November. 

Recent data also reveals a significant increase in whale transactions, with trades over $100,000 rising sharply in late October. This spike in large-scale activity suggests strong interest from major holders and signals possible market movement for Dogecoin.

Source Santiment

Solana (SOL) 

Solana (SOL), a layer one blockchain network, is gaining traction in the decentralized finance (DeFi) sector. Its popularity stems from high-speed, scalable transactions at low costs. Solana supports a broad range of decentralized applications (DApps). 

In the past 24 hours, the SOL price has surged by 4%, reaching $182. Over the last year, SOL’s market value rose over 460%, highlighting strong growth. Experts believe Solana could outperform Bitcoin in November amid a market recovery. 

If bullish momentum continues, SOL might surpass the $190 mark. If bullish gain more pressure, Solana could reach a new high of $260 in the coming month.

Source: TradingView

Sui (SUI)

Sui (SUI), a prominent Layer 1 blockchain, is attracting increased attention for its secure, fast, and private digital asset management solutions. The platform’s scalability has propelled its Total Value Locked (TVL) to an impressive $9.36 million. Recently, SUI’s price rose to $1.87, reflecting a 10% increase in a single day. 

Over the past month, the top altcoin surged by 12%, establishing Sui as a notable market performer with an annual gain of 310%. Investors now consider Sui a strong contender in November, expecting it to outperform Bitcoin, marking its impact in the competitive crypto landscape.

Source- DeFiLiama

The altcoin market is positioned to rival Bitcoin as fresh momentum builds in November. The month’s outlook remains promising, with specific cryptocurrencies set to capitalize on renewed investor interest.

The post 3 Cryptocurrencies That Will Outperform Bitcoin in November appeared first on CoinGape.

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Filed under: News - @ October 29, 2024 10:20 am