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July 18, 2024
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Here are the Altcoins that may Enter the Top 10: What’s Next?

The post Here are the Altcoins that may Enter the Top 10: What’s Next? appeared first on Coinpedia Fintech News

The current market dynamics have been favouring the altcoins that have gained traction and attention, outperforming the popular ones like XRR or ADA. After being very close to the top 5, Cardano is now feared of getting expelled from the top 10. Besides, XRP & Dogecoin have also remained within the range but have not displayed any huge moves. 

Having said that, what is the probability of them getting replaced by the rising altcoins like PEPE, LINK or any other promising token?

All the cryptos within the top 10 other than Toncoin (TON) have slipped into a bearish position as the selling pressure is slowly mounting over them. Secondly, not all of them in the range are the top traded assets, as a significant volume has been flowing into FDUSD, NOT and PEPE. Therefore, this raises the speculation of other promising tokens entering the top 10–15 spots, which may be a matter of concern for some of the tokens. 

Below are the altcoins which can make it to the top 10 during the next bullish wave. 

  • Pepe (PEPE) 
  • Shiba Inu (SHIB) 
  • Avalanche (AVAX) 

Among all the top 10 tokens, 2 cryptos have been recording lower volumes comparatively, i.e. Toncoin & Cardano. Pepe, on the other hand, is constantly achieving over a billion volumes in the past few days. Although FLOKI also has a higher volume than SHIB, LINK, or AVAX, it would be very difficult for it to reach the top 20 initially. 

Besides, Shiba Inu has been consolidating above the key support zone at $0.00002 for more than 45 days and hence a bullish rebound is expected. Secondly, Avalanche (AVAX) price broke down from the rising channel and the bulls are utilising all their strength to prevent the descending trend and trigger a healthy rebound. On the contrary, low volume and low volatility are slowly increasing the selling pressure on the ADA price, which is feared to exit if the bulls continue to remain passive.

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