Investors are scouting the markets for altcoins to buy after Bitcoin price volatility resulted in a general market downturn this past week. While the markets are struggling to contain the losses, some altcoins are flashing signals of recovery. Here are five altcoins to buy that rally by 100% this week.

1. Altcoins to Buy – Notcoin (NOT)

Notcoin, a community-driven play-to-earn token that onboarded users to web3 through Telegram, launched in mid-May and immediately saw substantial trading volumes and significant market volatility. With a valuation of $1.6 billion, Notcoin has maintained a positive price trajectory despite the broader downturn in the crypto market. 

According to Token Terminal, the supply of USDT on the TON blockchain has exceeded $580 million, indicating a surge in chain activity. Delphi Digital, a market analysis firm, also noted that TON’s active addresses now surpass those of Ethereum, making it one of the best altcoins to buy now.

As the pioneering play-to-earn project on this network, Notcoin stands to benefit from the increased liquidity. Currently, NOT is trading at approximately $0.0158, with a 3% increase in 24-hour trading volume.

2. JasmyCoin (JASMY)

JasmyCoin’s performance has also been affected by BTC’s volatility. The Japanese-based project allows users to have full ownership of their personal data and also get paid for sharing it. Jasmy.

JAMSY technicals are bullish, to say the least. After the initial pump instigated by rumors that the project was associated with Apple, the JASMY coin found great support at the 0.5 Fibonacci retracement level. Bulls are now using this support level as a bouncing point and the target is 2X from the current price.

JASMY price is trading around $0.0338, with an increase of 0.4% in the 24-hour trading volume. This is one of the altcoins to buy for 100% gains this week.

3. Shiba Inu (SHIB)

The Dogecoin ‘killer’ has received some bullish news this week. Although the current state of the general market threatens to undermine the hype, crypto experts believe that the dog-themed coin may be up for a rebound soon.

Moreover, news of soaring burn rates of the SHIB token further fuels a bullish turnaround for the project. Shiba Inu is the first ever meme coin to go from a token to its own blockchain. Aside from promising technicals, the rate of SHIB adoption in real-life use cases has been on the rise.

On June 13, DevourGO, a web-based food ordering and delivery marketplace, announced its acceptance of SHIB in a tweet.  

Woof! Did someone say “treats”?! Was this the first food delivery order paid for with $SHIB?

DevourGO now accepts $SHIB with our Coinbase Commerce integration. We made the first purchase, who is next?

Visit https://t.co/eG8i0nYHDb to fire up the app & chow down! #ShibainuCoin… pic.twitter.com/SUKvGXwvjm

— Devour (@GoDevour) June 13, 2024

Shib Daily, the official news branch of the Shib Network, reports an average drop of 61% in fees on the Shibarium chain. Additionally, the number of active contracts and verified active contracts on the chain hit an all-time high, showing organic growth.

The price of SHIB hovered around $0.0000181 during European business hours, with 24-hour trading volume up by 148% per CoinGecko.  

4. DOG•GO•TO•THE•MOON (Runes) (DOG)

DOG•GO•TO•THE•MOON (Runes) is one of the most sensational meme coins created since Shiba Inu. The project represents the first meme coins on the Bitcoin network. DOG•GO•TO•THE•MOON (Runes) is a rune etched and minted on the Runes protocol that is built on the Bitcoin blockchain.

DOG, the main token of DOG•GO•TO•THE•MOON (Runes), sits at a $613 million market cap with a price of $0.006089. The trading volume of DOG•GO•TO•THE•MOON (Runes) is up 45% in the past 24 hours, signaling an increase in investor interest. 

Riding the narrative of “The number 1 meme coin on the largest blockchain”, DOG aims to surpass the $1 billion mark and set a pace for the newly launching meme coin Runes on Bitcoin.

5. Altcoins To Buy – Pepe (PEPE)

Pepe, one the largest meme coins by market cap, is gearing to go on another rally a few days after cooling off the previous one that saw it hit a new all-time high price. The 24-hour trading volume of the asset spiked by 75.2% to reach $1 billion, indicating a recent surge in market activity. 

PEPE Social Domince | Source: Santiment

Despite decreasing social dominance per Santiment, PEPE investors remain bullish on the asset. Data from Coinalyze, an on-chain analysis firm, shows Pepe’s Open Interest volume increased by 11.23% to $67 million in the last 7 hours, indicating money is flowing back into the meme coin.

The price of PEPE is $0.00001071 at press time, which signifies a 10.1% drop in the past week, including an 8.5% drop in the last 24 hours.

Conclusion

Like the rest of the market, these altcoins have seen a major decline in price over the past week. If you’re seeking to buy altcoins poised for attractive returns this week, these coins offer the best opportunity based on their fundamental and technical indicators.

The post Top 5 Altcoins To Buy If Targeting 2X Recovery This Week appeared first on CoinGape.

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Filed under: News - @ June 18, 2024 12:30 pm