Ethereum coins could trigger a massive rally after Solana’s recent encounter with the US SEC. As a result, capital rotation will likely benefit participants in the Ethereum ecosystem. Additionally, the recent rally in Bitcoin (BTC) price has triggered an altcoin comeback, which could also aid in the rally.

3 Ethereum Coins that Could Turn $1 to $100 – AAVE

Here are 3 Ethereum Coins that show potential for kickstarting a massive rally – AAVE, FLOKI, and PEPE. These three altcoins have shown excellent price resilience or on-chain data that supports this potential meteoric rise.

Aave (AAVE) is a top Ethereum coin that has shown incredible strength in the past few weeks. Its correlation to the Bitcoin price movements has reduced, allowing it to move higher. The source of this strength could be attributed to the recent fee-switch announcement, which proposes buying back AAVE tokens from the secondary market. As a result, AAVE price has shot up 76% in the past 17 days. 

According to data from Santiment, the daily active addresses and network growth have shot up recently, adding credence to the aforementioned price rally. Investors can expect AAVE price to continue its rally. 

If AAVE price retests $152, it would have achieved a 100% rally, and investors that bought AAVE at $76.20 would have effectively doubled their investment. 

AAVE price vs. Daily Active Addresses, Network Growth

Floki (FLOKI)

Floki was the first Ethereum-based meme coin that grabbed widespread attention after Shiba Inu and managed to retain interest. Furthermore, on-chain data shows that the network growth indicator has shown a recent uptick, which showcases an interest in new investors and capital at the current price levels. 

Since August 5, FLOKI price has shot up nearly 50% and currently sits at $0.000140. A retest of $0.000192 would constitute a 100% rally.

FLOKI price vs. Daily Active Addresses, Network Growth

Pepe Coin (PEPE) 

This meme coin is the next most popular meme coin that was launched in 2023. But unlike Shiba Inu or Dogecoin, this meme coin and its participants are more active and could trigger a massive rally for PEPE price. 

The August 5 and 20 crashes have witnessed an unusual spike in whale transaction count, showcasing the interest from institutional investors or whales. Readers can consider this as an accumulation sign and look at the early July accumulation followed by a 54% rally. If history repeats, something similar could occur for PEPE price.

So far, PEPE has shot up 37% from the August 5 high and has a long way to go before it achieves the $1 to $100 status. If successful, PEPE price would be trading at $0.000117. 

PEPE price vs Whale Transaction Count

With Solana taking the backseat, these 3 Ethereum coins could make a massive comeback. This opportunity is key for investors looking to accumulate tokens with huge potential. These 3 Ethereum coins could double the investment from $1 to $100.

The post Turn $1 to $100 with these 3 Ethereum Coins appeared first on CoinGape.

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Filed under: News - @ August 22, 2024 12:18 pm