Next month, the attention of the cryptocurrency market will turn to the Altcoin sector and take full advantage of the post-Bitcoin halving market. Therefore, investors can make full use of this opportunity and look for some cryptocurrencies with high potential to invest.
These 4 cryptocurrencies have the potential to surge in the short term!
LTC
After a steady decline, Litecoin found support near $75.00. It then began to rebound, breaking through the $78.00 and $80.00 resistance levels. According to TradingView, Litecoin prices fell by more than 19% in the last month, causing many holders to lose money. However, during this decline, big investors bought more coins.
The increase in buying by large investors has helped Litecoin’s market sentiment to become positive. Its value has increased by 2.61% in the past 24 hours. When this indicator reaches such a point, it indicates the potential for price growth. Moreover, the increase in open interest suggests that the upward trend in prices may continue.
New survey results from a prominent payment processor indicate a significant shift in the way people are transacting with cryptocurrencies. By May, Litecoin processed almost twice as many payments as Bitcoin, indicating a growing preference for the cryptocurrency.
This shift may be due to rising Bitcoin transaction fees. Reports show that the average Bitcoin fee has climbed to around $100, which may hinder its use for small, frequent payments. As a result, users are turning to cheaper alternatives such as Litecoin, which offers similar blockchain benefits but without the high fees.
Despite the recent 19% drop in Litecoin’s price, large investors remain optimistic and are buying more of the token. While there is uncertainty in the market right now, the increase in open interest suggests that prices could rise in the future.
TON
Toncoin (TON) recently broke out of the descending channel it had been in since April. Now, the price is retracing back to the old resistance level as support. Analysts believe that now is a good time to buy in the short term.
Currently, Toncoin is trading at around $6.05. Analysis suggests that it could rise to around $10, which would mean an opportunity to make nearly 100% profit.
In April, news surfaced about a collaboration between the TON Foundation and HashKey Group. The alliance aims to strengthen the management of the TON ecosystem treasury in the Asia-Pacific region.
By collaborating, the organizations aim to leverage HashKey Group’s expertise to enhance the infrastructure and efficiency of the TON ecosystem. Together, they seek to expand the region’s crypto user base and improve their access to technology.
AR
Arweave has been surging, with a 35.12% price increase last week, attracting the attention of investors. The current price is $39.69, up 4.54% in the past day.
The rise in Arweave’s value is related to the launch of its new blockchain, Arweave AO. This innovative move aims to improve efficiency and speed. Despite the volatility, Arweave (AR) has shown strong stability, staying above $30, suggesting the potential for more growth. With the bullish outlook for the Bitcoin market, there is speculation that AR could soon reach $42.
Arweave has achieved impressive results recently. Its price has surged 357% in the past year, outperforming 89% of the top 100 cryptocurrencies. This shows that AR's price outlook is bright. Moreover, Arweave was able to surpass big names like Bitcoin and Ethereum, indicating its potential as a top asset with unique advantages.
Technical signals also point to a positive outlook for Arweave’s price. AR is trading above its 200-day simple moving average (SMA), indicating a bullish trend and a possible uptrend.
Additionally, Arweave is currently trading above its token sale price, suggesting that early investors have made healthy profits, which is boosting confidence and attracting new interest from the broader market.
FLOKI
Today, the Floki Inu market has its ups and downs. It rose sharply at the beginning, reaching $0.000172. But soon after, it fell to $0.000164. Despite the sudden drop, the price stabilized and remained fairly stable. Despite concerns about the changes in the cryptocurrency market, people are mostly optimistic.
Additionally, the recent increase in prices suggests that people may be feeling more optimistic, which could soon benefit the market.
Meanwhile, Floki and TokenFi are teaming up to sponsor the upcoming T20 series between Pakistan and Ireland. As the main sponsor, their logos will be prominently displayed on perimeter boards, video screens, boundary ropes, and other elements during the live broadcast. Both companies hope that this partnership will enhance their brands as they support this highly anticipated cricket series.
It is also known that a large investor bought a huge amount of 19 billion FLOKI coins. This was noticed by the famous crypto transaction tracker Scopescan. The news surprised many people and caused the price of FLOKI to rise, although people were not very optimistic about the market.
Meanwhile, FLOKI whales have been making strategic moves to withdraw a large number of tokens, about 18.76 billion, worth about $3.28 million, from three major crypto exchage: KuCoin, OKX, and Gate.io. This activity has sparked speculation about the whales’ plans and what it means for the future price of FLOKI.
According to Scopescan data, FLOKI’s withdrawal to deposit ratio in the last 24 hours was 86% to 14%. This indicates that a large amount of memecoins are being withdrawn from exchanges, indicating strong confidence among holders and could push up the price of the coin.
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