In this ongoing bearish market sentiment, there are a few top altcoins that have the potential to surge 100% if a bull run begins. However, in the past few days, the overall cryptocurrency market has seen a significant drop and these altcoins are now trading at a discounted price.
Best Altcoins for the Next Bull Run
Based on price action and technical analysis, the best altcoins for the next bull market in 2024 are Solana (SOL), Dogecoin (DOGE), and Ripple’s native token XRP.
Arthur Hayes Prediction for Altcoin Season
Recently, Arthur Hayes, co-founder and former CEO of BitMEX, published a report in which he stated that altcoin season will return once Bitcoin (BTC) and Ethereum (ETH), the world’s top cryptocurrencies, surpass $70,000 and $4,000 respectively. Furthermore, he added:
Solana will also break above $250, but the effect of a Solana pump on the crypto market as a whole is not nearly as powerful as with Bitcoin and Ether, given their relative market caps.
Solana (SOL) Price Prediction for 2024
According to expert technical analysis, SOL is looking bullish as it is trading above the 200 Exponential Moving Average (EMA) on a daily timeframe. The price of SOL above the 200 EMA makes it one of the best altcoins to watch for the next bull run. Moreover, it is also moving in a narrow range between $120 and $190.
At the time of writing, SOL is trading around the $145 level and there are high chances that it could surge towards the $190 level in the coming days. However, once BTC and ETH breach the $70,000 and $4,000 marks, it could change the overall market sentiment and help SOL reach its all-time high and breach the $260 mark.
Dogecoin (DOGE) Price Prediction for 2024
Dogecoin (DOGE) is the world’s largest meme coin, looking bullish and trading at a discounted price. It has the potential to rise by 100% in the coming days. DOGE has experienced a price drop of more than 55% in the past three months and is currently trading above the 200 Exponential Moving Average (EMA) on a weekly time frame.
If the market sentiment changes, there is a high chance that DOGE will rise 100% or even more. In addition, investors and whales are actively accumulating DOGE after the recent significant price drop.
XRP Price Prediction for 2024
The latest altcoin that has the potential to double an investment is Ripple’s native token XRP. According to expert technical analysis, XRP has been consistently consolidating in a narrow range. This ongoing consolidation has led to the formation of a bullish symmetrical triangle price action pattern on a weekly timeframe, and XRP is now in a breakout zone.
If XRP breaks this triangle pattern and closes a weekly candle above the $0.66 level, there is a high probability that the price will surge by 100% in the coming days and reach the $1.35 level.
