Since last weekend, crypto buyers have returned enthusiastically, delivering the Q4 momentum many had anticipated. With Bitcoin’s October performance flipping to the green, the altcoin market is gathering sufficient strength to spark a high-momentum rally. Let’s dive into the top five explosive altcoins to watch for a potential 100x rally this weekend.

5 Altcoins Set to Explode 100x This Weekend

With the Bitcoin price reclaiming $65,000 this week, confidence among crypto participants is returning for a Quarter 4 rally. The surge in on-chain activity and technical analysis shows these top altcoins hold the potential for 100x growth this weekend.

Shiba Inu (SHIB)

The popular dog-themed meme cryptocurrency SHIB, tops our list of altcoins with explosive growth potential. Following a prolonged correction in 2024, the Shiba Inu price prediction has recently shifted sideways above $0.000012, developing a suitable accumulation trend before the next leap.

Amid the consolidation, the SHIB supply held by the top address has increased from 59.7% to 61.28% in the last six months. This steady increase suggests that major holders, or “whales,” are accumulating more SHIB, potentially anticipating a substantial price recovery.

SHIB Supply Held By Top Addresses| Santiment

Litecoin (LTC)

Since March 2022, the Litecoin price prediction has showcased a sideways action, struggling to sustain above the $120 level. The consolidation resonating with two converging trendlines indicated a symmetrical triangle pattern formation.

With the Canary Capital filing of spot LTC ETFs, the Litecoin price is witnessing renewed interest from crypto buyers. With sustained buying momentum, Litecoin (LTC) appears ready to break out of its multi-year accumulation phase, positioning itself to outperform other altcoins.

LTC/USDT -1d Chart

Bittensor (TAO)

Bittensor (TAO) is one of the emerging altcoins leveraging AI technology to enhance its utility and drive decentralized machine learning development. Since September, the TAO price has surged from $219 to $564, registering a growth of 157%.

In the same period, the TAO future open interest (OI) has rallied from $56 Million to $207 Million, accounting for a growth of 350%. The rising OI indicates the market participants are increasingly confident about Bittensor’s future prospects. 

TAO Futures Open Interest

Dogwifhat (WIF)

Dogwifhat (WIF) is the second memecoin in our top altcoins list, projecting a high-growth potential in the recovery market. On October 6th, the WIF price showed a decisive breakout from the resistance trendline of the 6-month correction trendline.

The post-breakout rally has surged the asset by 14.7%, up to trade at $2.64, while the market cap pushed to $2.67 Billion. In addition, the coinglass data shows the WIF’s OI-weighted funding rate has surged to 0.0063%.

The positive value suggests investor confidence in Dogwifhat growth as they are ready to pay a premium for holding a long position contract. 

WIF OI-Weighted Funding Rate

Optimism (OP)

The Optimism (OP) coin is a daily chart showing steady recovery within a channel pattern. The formation of new higher highs and lows has uplifted the asset from $1.06 to $1.68— a 58% increase—- since April 2024.

According to Santiment, this recovery is backed by whale accumulation as wallets with 1 million to 10 million OP have increased their holding from 593.5 M to 731.2 Million in the last five months. Historically, such large-scale buying by major holders has often triggered major market reversals, indicating a potential bull run for OP.

Supply Distribution| Santiment

Conclusion:

The cryptocurrency market is preparing for a Q4 rally, with Bitcoin’s strong performance and rising on-chain activity setting the stage for altcoins to rally. Shiba Inu (SHIB), Litecoin (LTC), Bittensor (TAO), Dogwifhat (WIF), and Optimism (OP) are among the top altcoins, poised for high momentum rally amid whale accumulation, technical breakouts, and increased open interest.

The post 5 Explosive Altcoins to Rally 100x This Weekend appeared first on CoinGape.

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Filed under: News - @ October 18, 2024 2:26 pm