With Bitcoin continuously breaking new highs, Ethereum's strong surge, and OKB's tripling in an hour, we can analyze based on on-chain data and past bull-bear experiences that a breakout for altcoins is not far away. So, which altcoins are most likely to experience a major surge in this late bull market? Is it Dogecoin, Shib, PEPE, or some other altcoin? Let's analyze some altcoins' backgrounds, prospects, and current conditions to recommend a few potential coins worth positioning in now!
I. Dogecoin (DOGE)
Dogecoin, Shib, and Pepe are the three most popular MEME coins in terms of heat, attention, and holders, with almost every cryptocurrency investor holding some Dogecoin. The current price of Dogecoin is $0.22, which peaked at $0.48 during this bull market. For Dogecoin believers, Dogecoin is expected to take off again and reach new heights. However, rationally speaking, Dogecoin's strengths are its high popularity and large investor base, backed by Musk. But I believe these are not enough for Dogecoin to break its historical high of $0.74. After Bitcoin and Ethereum stabilize at high levels, I think the phase for altcoins to explode will come. I believe Dogecoin still has a chance to surge, and there's a great opportunity to break the previous high of $0.48, but breaking the historical high, even the anticipated $1, is indeed quite challenging. However, for Dogecoin, I see it as a relatively stable MEME coin for investment. Those looking to enter can wait for a correction and choose a low point to enter, as there is a great opportunity for more than double returns this year.
II. Lido (LDO)
LDO is Ethereum's liquid staking solution. Benefiting from the demand for Ethereum liquid staking, regulatory risks are reduced. The Lido staking solution allows users to stake their ETH while avoiding asset lock-up requirements and other conditions. Currently, users' ETH funds are locked in preparation for ETH 2.0 and will remain so until the new mainnet launches. LDO is highly correlated with Ethereum's price; during this recent rise in Ethereum, LDO alone increased by over 58% in August, making it the best-performing cryptocurrency related to Ethereum, while also gaining significant attention from institutions. The current price of LDO is $1.3, with a peak of $4 occurring in 2024. Personally, I believe LDO has strong applications but has yet to experience a powerful breakout. If Ethereum continues to rise, LDO's price will soar as well, making it a cryptocurrency worth positioning for.
III. SUI
Sui is the first permissionless Layer 1 blockchain. Sui is horizontally scalable, supports a wide range of application development, and has unparalleled speed and very low costs! SUI tokens can be staked to participate in the proof-of-stake mechanism. They are the asset denomination required to pay gas fees for executing transactions and other operations. They are a multifunctional and liquid asset that supports the entire Sui economy. It plays an important governance role by serving as a right to participate in on-chain voting.
Currently, the price of SUI is $3.52, with its peak reaching $5.36 in January this year. I believe there is still significant upward potential for SUI, and there will be a substantial opportunity soon. Interested friends can wait for a correction and choose the right time to enter!
If you are also a cryptocurrency trader but often find yourself trapped, cutting losses, or even facing liquidation, feel free to reach out to me. I am Lantian, a blogger focused on cryptocurrency market analysis, mainly researching spot short-term trading, medium and long-term doubling strategies, contract precise buying and selling point analysis, and unlocking positions! I am committed to being a warm-hearted crypto blogger!
