The cryptocurrency market is headed to a strong close to the week, with the market capitalization up by 2.2% to hit $2.57 trillion. As volumes continue to rise across the market, the odds are that it could be an explosive weekend, one that could see most cryptocurrencies gain by double digits. With such high prospects, the question then becomes, which are the best cryptocurrencies to buy today in anticipation of a mega pump over the weekend?
This is the question we seek to answer in this article with a focus on cryptocurrencies that are drawing the most investor attention at the moment. That’s because the more the focus on a cryptocurrency by investors, the higher the odds that it will attract the most investment in a bull market.
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We have carefully researched cryptocurrencies that based on the level of interest by investors in them at the moment, could record new all time high within the week.
Best Cryptocurrency To Buy Today
In this article, we narrow down on cryptocurrencies that are either trending on social media, or have big news around them that could trigger a sudden increase in buying volumes and send the price rocketing.
The article touches on Bitcoin potential to break its all-time highs on news that BlackRock’s Global Allocation Fund wants approval to buy Bitcoin, Ethereum’s Dencun upgrade which is scheduled for early next week, and JasmyCoin’s use case in web advertising that has been highlighted by the Jasmy Co President. The article also zeroes in on PEPE, a top Ethereum meme coin that could see demand surge after the Dencun upgrade and Shiba Inu increased upside momentum as investors anticipate another pump that could take meme coins to new heights.
Bitcoin (BTC)
Bitcoin (BTC) is currently edging closer to its all-time highs, and is drawing a lot of attention at the moment. The attention is being driven by the growing urgency of institutional money to buy Bitcoin, an indicator that they expect significant returns going forward. Today, the biggest news around Bitcoin is that Black’s Global Allocation Fund is seeking approval to buy Bitcoin.
BlackRock has filed with the SEC that it will buy #Bitcoin ETFs for their own funds.
They have $10 Trillion in assets under management.
Another $20 Trillion of funds use their Aladdin platform to make portfolio allocations.
BlackRock has stated that the optimal Bitcoin… pic.twitter.com/S2vazPRGXH
— Bitcoin Archive (@BTC_Archive) March 8, 2024
This indicates that BlackRock now sees Bitcoin as a critical asset in a diverse portfolio that includes bonds, stocks, and other assets. With the excitement that the growing institutional interest in Bitcoin has created at the moment, the odds are Bitcoin will break through its all-time highs again, this weekend. Such a price move opens many possibilities to the upside and makes Bitcoin one of the hottest cryptocurrencies to buy now.
Ethereum (ETH)
Ethereum (ETH) has been making steady gains over the past week and is now close to testing $4000. Investors are excited that if Ethereum can break $4000 today, this momentum could see Ethereum break its all-time high of $4800 over the weekend.
One of the key triggers to such a move is the Dencun upgrade that is scheduled for next week, on March 13. This upgrade is set to make it more usable by reducing fees on layer-2 networks. The result will be a potentially exponential increase in trading in Ethereum tokens. By extension, this will mean higher demand for Ethereum than ever before.
– Let’s have a quick talk about #EIP4844 as #DencunUpgrade is coming close.
– As we all know,
🔹Most Rollup protocols are currently leveraging Ethereum as their data availability layer.
🔹Sequencers within Rollups sort out transactions into groups and routinely transfer them… pic.twitter.com/T1gBQ4o47c
— Crypto Rocketeer (@Defi_Rocketeer) March 8, 2024
Investors are also excited that the supply of demand for trading is shrinking as vast chunks of it are now locked in smart contracts or are staked. For context, over 25% of Ethereum is now locked in smart contracts, while more than 35% is locked in staking.
This means the likely surge in demand for Ethereum after Dencun will be chasing a decreasing supply of Ethereum. Such high levels of utility-driven demand, coupled with low supply, make Ethereum a worthy cryptocurrency to buy and hold today.
JasmyCoin (JASMY)
JasmyCoin (JASMY) is a top trending cryptocurrency today. Buying volumes have also shot up in the last 24 hours, an indicator that a breakout could be underway. Besides the technical indicators pointing to a potential breakout, there is much to look forward to for JasmyCoin, which could see the token emerge as one of the top-performing cryptocurrencies this weekend.
#Jasmy‘s article was published in two parts in open dx lab by #ITOKIhttps://t.co/5UGzYuA6XA
— HARA (@HARA_JasmyCFO) March 7, 2024
One of them is its clear use cases, which have seen it start gaining adoption, especially in the driverless car market. Recently, the President of Jasmy Co revealed that Jasmy also has a strong use case in making web advertising more precise. Given that the data privacy, and web search markets are worth billions, this utility will likely see investors continue to flock into JasmyCoin. It makes one of the best cryptocurrencies to buy now for savvy investors.
PEPE (PEPE)
PEPE (PEPE) looks all set for another rally as Bitcoin gives the broader market a push going into the weekend. PEPE is particularly interesting at the moment because more investors are now considering meme coins as some of the best cryptocurrencies to buy for quick money.
The smartest men alive are posting cartoon frogs $PEPE pic.twitter.com/gHDah0Qc55
— Pepe (@pepecoineth) March 7, 2024
However, with so many meme coins having people of questionable character behind them, PEPE stands out for its credibility. This means it stands to gain the most as confidence builds in the market that Bitcoin could retest its all-time highs this weekend and, in the process, send altcoins rocketing to new highs.
Shiba Inu (SHIB)
Shiba Inu (SHIB) is another meme coin that is experiencing a surge in volumes at the moment. This is an indicator that Shiba Inu, just like PEPE, is drawing in many investors as the broader market seems all set for another bullish wave this weekend.
Besides its credibility as one of the top meme coins around, Shiba Inu stands out for the fact that it is accessible through Shibarium. This is a layer-2 solution where traders can buy and sell SHIB and other meme coins without incurring a lot of fees.
Meme season has arrived on #SHIBARIUM Who will emerge as the top dog? 🐕 https://t.co/GrkcmhLU5D
— Shib (@Shibtoken) March 6, 2024
With Shibarium, even investors that have as little as $10 to invest can buy Shiba Inu. In a bull cycle like the one starting now, when small retail investors FOMO into meme coins, the implications for Shiba Inu could be massive. SHIB could make records as one of the best-performing meme coins again.
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