Personal suggestions and opinions on the current market:
1. BTC experienced a small shock, and altcoins collectively plunged. What is the reason?
2. BTC fluctuates above the 5-day line. The rise is not over yet, and the altcoins will rise again.
3. Don’t be disappointed with DOGE. If DOGE doesn’t work, there will be no future for altcoins.
1. Let me give you a brief analysis of the status of altcoins in this round of market;
At present, Binance has gone through two rounds of bull market, and hundreds of copycat project parties have sold most of their chips. It is not possible to get out of the bull market with just a little capital, and its vitality is approaching the end. In today's market with a shortage of funds, pulling the market will bear considerable risks.
Therefore, we see that most of the altcoins are still hesitating today when Bitcoin is close to 100,000. They only wait for Bitcoin to fluctuate and then try their best to make money by selling contracts. To put it bluntly, these project owners have given up. One reason is that they have made enough money, and the other is that they have no chips left.
So we can see that the projects Binance has launched recently are very strange, all of them are MEME coins with a market value of 10 or 20 million; because there is no other way, we have to find fresh blood to save Binance’s current situation, and Binance will buy some chips in advance to operate these MEME coins, so now we have to pay attention to
1. The market of Tugou will definitely be better than the two old projects of Binance.
2. Pay special attention to Binance’s new projects, because this is their self-rescue project and they must boost the market.
2. BTC is still running above the upward 5-day moving average, and it is still far from falling below the 5-day moving average. Therefore, the rise is that the time window has not been completed, and the altcoin has fallen sharply. The scenario here may be that BTC consolidates strongly horizontally, and the altcoin bottoms out for 1 day, and then resonates upward (2~3 days)
Layout three types of altcoins that will increase 100 times in the future!
1.PNUT
The price of Peanut the Squirrel (PNUT) has experienced a staggering surge, rising 261.14% in the past 24 hours, and this growth has been accompanied by a significant increase in trading volume, which has increased by 196.70% to $3.16 billion, according to CoinMarketCap. The surge came after social media went viral when a pet squirrel named Peanut was confiscated by local officials in the United States due to rabies issues. Chemung County official Chris Moss later confirmed that Peanut had tested negative for rabies, which sparked interest in the token.
Bulls have taken control, pushing PNUT above the 50-day simple moving average (SMA), a sign of a continued uptrend. Moreover, the relative strength index (RSI) has surged above 70 to reach 85, which suggests strong buying pressure on the coin.
The moving average convergence divergence (MACD) also reflects this bullish trend, with the MACD line crossing the signal line. If this momentum continues, PNUT could surge further and bulls could surpass the $1.50 target.
However, high RSI levels suggest that the asset may be overvalued, which means there could be a sell-off phase as investors seek to take profits. For those interested in alternative investments, Flockerz (FLOCK) offers another promising option. It has raised over $1.6 million and has attracted attention as an innovative meme coin project.
2.ACT
Act 1: AI Oracle (ACT) has seen a staggering leap, surging more than 1,800% in just two days, with trading volume also surging 14.81% to $1.19 billion, according to CoinMarketCap. This impressive growth comes after Binance announced it would list ACT, with trading set to begin on November 11.
According to GeckoTerminal, before the Binance listing, ACT was trading at around $0.019 and was in a stable consolidation phase. The new listing triggered a parabolic rise, pushing the price above the 50-day and 200-day simple moving averages (SMAs), a strong bullish indicator. The relative strength index (RSI) is now 95, indicating that the token may be overvalued and overbought.
Moreover, the Moving Average Convergence Divergence (MACD) shows a positive trend, with the MACD line crossing the signal line – a classic bullish sign. If the current buying momentum persists, ACT could climb further, with bulls eyeing a target of $1.00.
ACT’s market sentiment is bullish, with the Fear & Greed Index at 84, indicating “Extreme Greed”, reflecting high optimism for an upward trend. If the cryptocurrency market remains strong, it is predicted that the average price of ACT could reach around $2.19 by 2024.
3.1INCH
1inch Network Token (1INCH) is currently valued at 0.280211, down 10.77% in the past 24 hours. Despite the recent decline, market sentiment around 1INCH remains mildly optimistic, albeit cautious. The current Fear & Greed Index is 84, indicating "Extreme Greed", which generally indicates strong investor confidence and strong interest in the asset.
Looking back over the past month, 1INCH had 16 “up days”, where the daily closing price was higher than the daily opening price. This equates to about 53% of the time, which indicates some stability in price action and high liquidity given its market cap. During this period, the token’s price volatility was moderate at about 5.8%, reflecting a relatively stable market reaction.
Forecasts suggest that the value of 1INCH could increase by up to 230% within the next year and could reach approximately 1.012 by December 12, 2024. Given this price prediction, coupled with the token’s liquidity and stable daily performance, 1INCH could be a potentially attractive investment for some investors.
