The cryptocurrency market has started the week on a high note, with Bitcoin pushing through $70k. Most altcoins are on the rise, an indicator that bulls are firmly in control days to the Bitcoin halving. With the parabolic price moves that usually accompany the Bitcoin halving, investors are looking for cryptocurrencies that offer the highest potential. This leads to the question, what is the best cryptocurrency to invest in today and take advantage of the upcoming bull cycle?
This question is on most investors’ minds, which we will tackle conclusively throughout this article. The article looks at cryptocurrencies showing early signals of attracting the most investors in an all-out bull market. The article touches on cryptocurrencies whose fundamentals could help sustain bullish momentum over and above the hype that comes with the rallies after the Bitcoin block halving.
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Top Cryptocurrency To Explode Today
In this section, we focus on cryptocurrencies with the most potential to outperform the broader market. Top of the list is Bitcoin, with all the halving hype that is building up at the moment, Toncoin, which has pushed through its all-time highs as fundamentals get more robust, and Ethereum’s increasingly positive image as competitors struggle with transaction completion issues.
The article touches on PEPE and Dogecoin, two meme coins whose price action points to a potential breakout to new highs as the bull cycle starts.
Bitcoin (BTC)
Bitcoin (BTC) is an obvious choice when looking at top cryptocurrencies to buy now. This is because hype around the halving is getting stronger, with only ten days to go. With all the hype Bitcoin has attracted so far, the odds are high that the current momentum will only get stronger as the halving approaches. Investors are excited that this halving cycle could see Bitcoin offer better returns than it has done in previous hype cycles.
Bitcoin’s exchange data screams: Over $3 billion in shorts will go up in flames when BTC hits $74,000. 📈💰 pic.twitter.com/0qBXesrojG
— Kyledoops (@kyledoops) April 8, 2024
That’s because, unlike past cycles, there is a lot of institutional buying Bitcoin now. The BlackRock ETF is an excellent indicator of the institutional demand, having amassed over $10 billion two months since it was approved.
This, and even countries are now buying Bitcoin, means a sharp supply shortage exists in an environment of exponentially rising demand. This puts Bitcoin firmly on course to a potential 5X or more rally this cycle. This makes BTC one of the best cryptocurrencies for investing in now.
Ethereum (ETH)
Ethereum (ETH) has been dormant for weeks but shows signs of a bullish breakout. In the last 24 hours, Ethereum has delivered higher gains than BTC, a pointer to its potential for a bullish breakout. Besides the fact that Ethereum is set to benefit from Bitcoin’s rising momentum, broader factors support Ethereum’s momentum.
The biggest one is the high transaction failure rates that have hit some of its competitors. This has exposed the fact that network stability and guaranteed transaction finality are more critical than transaction fees. Besides, Ethereum has made great strides in terms of transaction costs. Since the Dencun upgrade, fees have dropped significantly in the Ethereum ecosystem, with most transactions now handled by layer 2s.
Ethereum layer 2’s are incredibly cheap to use today! pic.twitter.com/bCQ9jUxJXK
— sassal.eth/acc 🦇🔊 (@sassal0x) April 8, 2024
With this improved network capabilities and talks of an ETF regaining traction, the odds are high that Ethereum could be headed for a significant price rally. With the possibility of the ETF after Bitcoin halving, Ethereum could be well on its way to $10k or more this year. This makes it an undervalued cryptocurrency to invest in now.
Toncoin (TON)
Toncoin (TON) has had an impressive run this year, and it is not stopping. In the last 24 hours, when Bitcoin has pushed the entire market into bullish territory, Toncoin has emerged as one of the best performers among the large-cap cryptocurrencies. Toncoin recently went through its all-time highs, and the strong momentum in the last 24 hours only points to TON’s strong potential after Bitcoin halving.
There are strong fundamentals that are likely to see it emerge as the best-performing cryptocurrency in this bull cycle. One of them is the use case of TON in Telegram. Telegram recently announced that it would share revenues with creators and that the payments would be made in Toncoin. This is a big deal regarding the token’s utility and value growth over time.
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#TONCentre $TON #TON $FISH pic.twitter.com/xsOEudIBLD— TON Centre 💎 (@TONCentre_) April 8, 2024
At the same time, Toncoin is the cryptocurrency used to raise funds in the Ton blockchain. With many meme coins now coming out of the Ton blockchain, the demand for TON keeps increasing. All these factors make Toncoin a high potential cryptocurrency to buy now.
Dogecoin (DOGE)
Dogecoin (DOGE) has made a strong showing today, and is one of the best-performing large-cap cryptocurrencies in the last 24 hours. The meme coin shows signs of a breakout on the monthly charts, indicating a potential rally to $1 or more in the upcoming bull run.
However, it is not the technical indicators that make Dogecoin an excellent cryptocurrency to buy now. There is the fact that its fundamentals are getting better. For instance, it is likely to be integrated into X as Elon Musk turns the social media platform into a super app.
A few folk asking me how they can use GigaWallet. It’s a backend service, so it’s a tool a programmer can use to integrate Dogecoin Commerce into their own platforms and products. There ARE some plugins for online shops already, @inevitable360 has built a woo-commerce plugin for… pic.twitter.com/Ev6Ikx6Z1i
— Timothy Stebbing (@tjstebbing) March 26, 2024
Additionally, the Dogecoin developer team recently released a wallet that makes it easy for businesses to integrate DOGE into their platforms. These are all value drivers that make DOGE undervalued at current prices.
PEPE (PEPE)
PEPE (PEPE) is another cryptocurrency that makes for a solid buy at current prices. It has gained more than Bitcoin and most altcoins in the last 24 hours, asserting its position as one of the hottest meme coins today.
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— PancakeSwap v4🥞 (@PancakeSwap) April 1, 2024
PEPE holds a lot of potential because it has market credibility. In a market full of meme coins that disappear in days or weeks, PEPE stands out for its decentralization and credibility. This explains why it is emerging as an in-demand meme coin, as Bitcoin’s price action points to the possible start of the next bullish super cycle.
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