In the current bear market atmosphere, there are some top altcoins that have the potential to surge 100% once the bull market starts. However, the entire cryptocurrency market has experienced a significant decline over the past few days and these altcoins are currently trading at a discount.
Best Altcoins for the Next Bull Run
Based on price action and technical analysis, the most likely altcoins to see the next bull run in 2024 are Solana (SOL), Dogecoin (DOGE), and Ripple’s native token, XRP.
Arthur Hayes Predictions for Altcoin Season
Recently, Arthur Hayes, co-founder and former CEO of BitMEX, released a report in which he said that altcoin season will return once the world’s top cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), surpass $70,000 and $4,000 respectively. He added:
Solana is also expected to rise above $250, but the wealth effect on the overall cryptocurrency market due to the Solana pump is not as strong as that of Bitcoin and Ethereum when considering their relative market caps.
Solana (SOL) Price Prediction 2024
According to expert technical analysis, SOL is trading above the 200 exponential moving average (EMA) on the daily time frame, which looks bullish. The SOL price above the 200 EMA makes it one of the best altcoins to watch for the next bull run. It is also moving in a narrow range between $120 and $190.
At the time of writing, SOL is trading at $145 and is likely to surge to $190 in the coming days. However, if BTC and ETH break $70,000 and $4,000 respectively, this could change the overall market sentiment and help SOL hit an all-time high and break $260.
Dogecoin (DOGE) price prediction for 2024
Dogecoin (DOGE), the world’s largest meme coin, is looking bullish and trading at a discount. There is a possibility that it could rally by up to 100% in the coming days. DOGE has experienced a price drop of over 55% in the past three months and is currently trading above the 200 exponential moving average (EMA) on the weekly time frame.
If market sentiment changes, there is a high possibility that DOGE will surge by more than 100%. In addition, investors and whales are actively accumulating DOGE after the recent significant price drop.
XRP Price Prediction 2024
The last altcoin with the potential to double your investment is Ripple’s native token, XRP. According to expert technical analysis, XRP is continuing to consolidate in a narrow range. This ongoing consolidation has created a bullish symmetrical triangle price action pattern on the weekly timeframe, and XRP is now in the breakout zone.
If XRP breaks this triangle pattern and closes the weekly candle above the $0.66 level, there is a high chance that it will rally 100% to $1.35 in the coming days.