It gets darker before dawn! This might be the phrase every crypto investor needs to get accustomed to considering the dilapidated market structure at the moment. The period before and after the approval of Bitcoin ETFs significantly changed the crypto outlook, causing a seismic shift in holder fortunes. As Bitcoin rallied to a new all-time high of $73,837, altcoins to buy like Terra Classic (LUNC), Shiba Inu and Sui beamed with the hope of reaching unprecedented levels.

Over the last 24 hours, volatility dominated the market, with Bitcoin first rebounding above $63,000 before sliding to test support at $60,000. Potential altcoins to buy followed swiftly, posting double-digit losses on Friday.

The total market capitalization has declined to $2.38 trillion, from $2.41 trillion earlier in the day. Ethereum lost support at $3,000 and currently sits above $2,900 support. Solana is back below $150 and trading at $147 at the time of writing, while Dogecoin, Cardano, and others sink deeper into losses.

That said, narrowing down to some altcoins to buy could help investors see the bigger picture. DCA strategies could help build holdings, thus positioning for maximum returns as the crypto market rebounds toward the year-end.

1. Terra Classic (LUNC)

Terra Classic price is currently at $0.0001072, showing a 2.38% increase over the last day. Despite this price increase, the trading volume has seen a decline of 18.19%, totaling approximately $24.13 million over the last 24 hours. The market capitalization now stands at $621.91 million, ranking it 113th in the market cap rankings.

LUNCUSD price chart

The LUNC market has experienced a notable rise of 7% over the last week, highlighting increased investor interest. Despite a broader downward trend this month, with a 17% decrease, there seems to be a subtle recovery. Prices have fluctuated between $0.0001 and $0.00012, indicating cautious optimism among traders.

The increasing bullish sentiment in the market might push Terra Classic’s price past the $0.00011 level. Such a move could accelerate momentum towards testing the $0.00012 resistance. If the bullish pressure persists, the price may even approach the $0.0002 milestone.

2. Shiba Inu (SHIB)

Shiba Inu Coin has shown considerable resilience and a robust recovery in recent hours. This increase comes after a series of declines earlier today, catching the attention of investors and analysts alike. Over the past week, SHIB recorded a slight rise of over 3%, with prices oscillating between $0.0000224 and $0.0000261. 

Despite a 14% decrease over the last month due to market corrections, the current surge in its value suggests a growing optimism among investors, potentially marking a transition from bearish to more bullish market conditions. This change in sentiment could signal a shift in investor confidence, heralding a new phase for the cryptocurrency.

SHIBUSD weekly price chart

In recent news, the meme cryptocurrency Shiba Inu has captured attention with a significant increase in its burn rate, soaring by over 5500%. According to Shib burn, approximately 26 million SHIB tokens were removed from circulation yesterday. This action has injected optimism into the market for this dog-themed cryptocurrency. 

If the market recovery persists, the meme cryptocurrency could surpass the $0.000025 mark, potentially elevating its price to $0.00003. This increase might pave the way for it to reach the $0.00003 level. With continued bullish pressure, SHIB might climb to $0.00005 by the end of April.

3. Sui

Sui (SUI), an innovative Layer 1 blockchain platform, is rapidly gaining attention for its focus on secure, swift, and private management of digital assets. It stands out for offering scalable blockchain solutions, which is evident in its significant Total Value Locked (TVL). The recent spike in Sui price to $1.09, marking an 8% increase within a day, signals strong market interest.

SUIUSD weekly price chart

Despite a slight dip in previous weeks, this rise suggests a growing confidence in Sui’s potential as a leading alternative cryptocurrency. Currently, it ranks 46th on CoinMarketCap, with a market capitalization of $2.5 billion. Investors view Sui as a competitive option against Solana, potentially transforming a $10,000 investment into $500,000.

Bottom Line

Investing in crypto requires resilience but also the ability to adjust and rebalance portfolios accordingly. Instances of risk-taking are also paramount. Altcoins to buy like SHIB, LUNC, and SUI allow investors to position themselves ahead of the bull market.

The post Can These 3 Altcoins To Buy In May Make You Rich In 2024 appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am