Altcoin
2 Trending Altcoins to Buy Ready to Become a Cryptocurrency Millionaire in 2024
The cryptocurrency market is strongly bullish this week following renewed optimism over the spot approval Ethereum ETF. As rumors in the market intensified, buyable altcoins such as Avalanche (AVAX) and Bonk broke out in double digits.
Bitcoin it also helped support the market during the breakout above $70,000 on Monday. Despite the ongoing correction, as discussed, several indicators, micro and macro, support the bullish thesis at $100,000.
Altcoins to buy with 100X profit in 2024
Many investors have already rebalanced their portfolios, taking advantage of the directionless sideways trading in late April and early May. Additionally, the correction from Q1 highs has flaunted buying opportunities at low levels as it sets up for major breakouts later in the year, marking the 2024 bull market.
However, it’s not too late to get involved 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 significantly contribute to a millionaire’s potential crypto portfolio.
Meme coins like Bonk they allow convenient entry into the market. On the other hand, Avalanche is a renowned general-purpose blockchain platform for decentralized applications via smart contracts.
1. Avalanche (AVAX)
Avalanche the price has seen a strong upward trend over the past week, with bullish pressure pushing it higher. This momentum was fueled by growing investor interest and positive market sentiment, pushing the price to new local highs.
The altcoin recovered from the $35 level to surpass the $40 mark, reflecting a robust 23% increase over the past week. AVAX price is up more than 9%, trading in the $30 to $40 range over the past month with slight fluctuations.
AVAX avalanche chart | CoinGecko
Avalanche’s partnership with Gamestarter Launching GameChain, a new Layer-1 platform to simplify blockchain game development, could be a game-changer in the DeFi industry. GameChain, running on Avalanche, offers tools like GameID, GameSocial, and GameHub to improve 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.
After the announcement, Avalanche saw a significant increase, indicating strong market acceptance. This collaboration opens up new possibilities for game creators and enthusiasts, highlighting the growing integration of blockchain technology into the gaming industry. If this trend continues, AVAX could break the $41 resistance level and approach $50, potentially reaching $70 by the end of the month.
2. Bon (BONK)
The cryptocurrency market rally has spurred notable gains for major altcoins, with the one based on Solana Good distinguishing itself as one of the top performers, recording a price increase of 33%.
An analysis of the daily charts shows that the rally has developed an inverted head and shoulders pattern, a chart setup often interpreted as bottom formation and a precursor to a prolonged rally.
Amid market excitement over the potential approval of ETH ETFs, the VERY GOOD price jumped 7.8% today and broke above the $0.00003 neckline resistance.
Bonk Price Chart | CoinGecko
If Bonk price sustains a recent breakout, buyers will get a proper base to extend its rally to $0.000047, followed by $0.0000712.
Take away
As the cryptocurrency market outlook changes positively, the selected altcoins would present the best altcoin buying opportunities. The key to reducing risk is to diversify, hence the need to include potential meme coins like Bonk and tier 1 projects like Avalanche. The protocols differ in many ways, but signal the possibility of a major breakout in 2024.
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