2 Trending Altcoins To Buy Poised To Make Crypto Millionaires In 2024
The crypto market is highly bullish this week following renewed optimism for the approval of spot Ethereum ETFs. As the buzz intensified in the market, altcoins to buy like Avalanche (AVAX) and Bonk broke out in double-digits.
Bitcoin also contributed to buoying the market amidst the breakout above $70,000 on Monday. Despite the ongoing correction as discussed, several indicators—micro and macro back the bullish thesis to $100,000.
Altcoins To Buy For 100X Profit In 2024
Many investors have already rebalanced their portfolios, taking advantage of the directionless sideways trading in late April and early May. Moreover, the correction from Q1 highs flaunted opportunities to buy low while preparing for major breakouts later in the year, marking the 2024 bull market.
However, it is not too late to make entries into altcoins to buy like Avalanche and Bonk. While these two digital assets may not be enough to make someone a millionaire in 2024, they can contribute significantly to a millionaire’s potential crypto portfolio.
Meme coins like Bonk allow for affordable entries in the market. On the other hand, Avalanche is a renowned general-purpose blockchain platform for decentralized applications via smart contracts.
1. Avalanche (AVAX)
Avalanche price has seen a strong ascending trend over the past week, with bullish pressure driving it higher. This momentum has been fueled by increased investor interest and positive market sentiment, pushing the price to new local highs.
The Altcoin has rallied from the $35 level to surpass the $40 mark, reflecting a robust 23% increase over the past week. The AVAX price has surged more than 9%, trading in the range between $30 to $40 over the past month with slight fluctuations.
Avalanche’s partnership with Gamestarter to launch GameChain, a new Layer-1 platform for simplifying blockchain game development, could be a game changer in the DeFi sector. GameChain, running on Avalanche, offers tools like GameID, GameSocial, and GameHub to enhance user experience and community engagement.
The partnership will provide developers with an intuitive SDK and cross-bridge functionality, making it easier to create blockchain-based games.
Following the announcement, Avalanche saw a significant rise, indicating strong market approval. This collaboration opens new possibilities for game creators and enthusiasts, highlighting the growing integration of blockchain technology in the gaming industry. If this trend continues, AVAX could break the $41 resistance level and approach $50, potentially reaching $70 by month’s end.
2. Bonk (BONK)
The rally in the crypto market has spurred notable gains across major altcoins, with Solana-based Bonk standing out as one of the top performers, recording a 33% price increase.
An analysis of daily charts shows the recovery developed an inverted head and shoulder pattern— a chart setup often interpreted as the bottom formation and a precursor for prolonged recovery.
Amid the market excitement around the potential approval of ETH ETFs, the BONK price recorded a 7.8% jump today and breached the neckline resistance of $0.00003.
If the Bonk price sustains a recent breakout, the buyers will obtain a suitable footing to prolong its rally to $0.000047, followed by $0.0000712.
Takeaway
As the crypto market outlook changes positively, select altcoins would present the best opportunities for altcoins to buy. The key to reducing risk is diversifying, hence the need to include potential meme coins like Bonk and layer 1 projects such as Avalanche. The protocols differ in many ways but signal the possibility of a major breakout in 2024.
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