Traders are preparing early for the altcoin season that is predicted to begin by the second half of August. Ahead of bull runs, traders dump tokens that can no longer yield value to buy undervalued gems that can explode with a small spark.
It is not advised to dump an entire collection of established cryptocurrencies as they can bounce back on reaching new development milestones.
A good strategy for the upcoming bull cycle is to cash out a small share of saturated high-cap holdings to buy emerging or underrated cryptocurrencies. The allocation of the high-cap asset can be readjusted during downturns.
What you'll learn 👉
SOL and MATIC have lost steam
The leading cryptocurrencies that are unlikely to benefit from the upcoming altcoin season are Solana, XRP, Dogecoin, and Polygon.
For example, Solana has gained 17.34% over the last thirty days. The cryptocurrency is downhill now, with more price correction due and no major developmental milestone in sight.
When it comes to Polygon, the situation is bleaker. The coin has been struggling to win back the trust of the market throughout this year. But with old blockchains moving to more energy-efficient consensus mechanisms and new alternatives emerging in the market, Polygon has to establish its relevance again.
There are more slips awaiting the coin as it steps into August. Even if it follows the uptrend in the broader market, the movement will be hardly noticeable.
A steep price correction is due for Dogecoin. Over the last seven days, the coin lost 7.11% of its value and is showing no signs of a strong rebound. As the fear spreads across the DOGE community, the collapse will gain speed.
Which cryptocurrencies are on the radar of traders?
Bitcoin, Polkadot, AVAX, and Worldcoin are some high-cap cryptocurrencies on the radar of seasoned traders this week.
Since they are selling below their potential value this week, they present excellent buy-the-dip opportunities. If the price drops further below in the coming days, traders who took advantage of the slip may generously benefit during the price correction.
While the above-mentioned cryptocurrencies provide potential ROI ranging from 8% – 50%, new cryptocurrencies have explosive potential.
They have remarkably low initial market caps, which translates to a large room for growth in terms of ROI for early investors. If you have done your research right, presales present the best investment opportunities in the crypto market right now.
Listed below are three trending cryptos of August.
Investors are dumping XRP for XRP20
XRP is largely saturated with a whopping market cap of over $34B. It is not an ideal strategy to expand your XRP investment unless you have your eyes on long-term returns. XRP’s price variation this year will be negligible.
Investors are choosing to invest in XRP20 instead, partly fuelled by BCH (Bitcoin Cash) and BTC20 FOMO, and partly fuelled by XRP FOMO.
XRP FOMO is the key selling point of XRP20, touted as XRP on Ethereum. Currently, in the presale stage, the coin is gaining massive traction from public presale participants as the hype climbs to new heights.
As of now, the presale has attained 211,034.54 out of its targeted soft cap of $1,850,000. The hard cap is $3,680,000. The initial market cap is set low to give large room for returns to early investors.
The presale price of the coin is capped at $0.000092.
The green ERC-20 version of XRP is built on the Ethereum blockchain with the goal of kindling hype. But the resemblance to XRP’s roadmap is not the only fact that has drawn interest to the project.
It features a verified staking contract that will release rewards to investors who lock their XRP20 tokens on the platform.
If the BTC20 presale and the Bitcoin Cash pump are any sign, XRP20 presents an equally good opportunity. The presale has just begun.
Good morning #XRP20Army!🌞
— XRP20 (@XRP20_coin) August 3, 2023
We've raised over $200,000!🎉🙌
Thank you to the entire #CryptoCommunity for the incredible support!🤝🌐
Don't miss out! Join the #XRP20 #Presale today!🔥💎
https://t.co/lNFEKmMpBs pic.twitter.com/kyNhFKrxxv
Why XRP20?
1. XRP20 is touted as the next evolution of XRP that is much easier to buy, sell, and HODL.
When XRP was launched in 2012, the presales and private sales were inaccessible to retail buyers. Later, the project became popular, and the public began to send the token’s price to new heights. But most of the profits were bagged by early investors who bought the token when it was at its cheapest.
XRP20 aims to kindle a similar bull run. But instead of venture capitalists and private investors, it caters to retail investors. The entry barrier to the presale is set remarkably low. The low presale target, combined with the low initial market cap, gives ample room for growth to XRP20.
Even if XRP20 doesn’t expand to XRP’s market cap, long-term investors have a chance to earn 80X-100X returns from the token.
2. The staking mechanism adds to the allure of the investment. You’re not just holding your tokens in anticipation of a price rise, but also benefiting from the passive income from the staking protocol.
3. In addition, XRP20 has implemented a burning mechanism that sends 0.1% of every buy and sell to a burn address. 10% of the total supply is allocated to be burned. As a result of this, the total supply of the token is reduced, creating scarcity in the market. That will translate to price rises. It will especially prove to be useful during downturns.
4. One of the key drawbacks of XRP was its lack of utility for retail investors. It was designed for legacy financial institutions. XRP20, on the other hand, comes with an on-chain staking functionality. It not only reduces the supply of the token in the open market, but also fuels its demand.
5. XRP20 is not a security.
Wall Street Memes – The biggest meme coin phenomenon of this year
On Tuesday, an investor bought 460 ETH worth of WSM at its ongoing presale.
That is $840,000 in fiat currency. Clearly, a meme coin mania is underway.
Wall Street Memes has been the most trending cryptocurrency within the meme coin market over the last few weeks. Widely predicted to be the next big crypto, investors are hoarding WSM tokens at discounted prices before the presale sells out.
As of now, the project has raised $20.5M out of its presale target of $30M.
Here are the key factors that make Wall Street Memes the best meme coin buy not just this month, but also this year.
1. Wall Street Memes has a 1M+ global community of investors, traders, and business leaders.
2. The audience includes Elon Musk, who has engaged with Wall Street Memes posts multiple times in the past. Even though he is not involved with the project or has not promoted it in any way, the engagement has sparked momentum for Wall Street Memes in the meme coin community.
Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +It also goes on to show the widespread reach of the project.
3. Wall Street Memes sold out its first NFT collection in 2021 in just 32 minutes. If the presale momentum is any sign, a bigger phenomenon is unfolding.
With the presale nearing its end, the token launch of $WSM is expected to go live in August. Each new presale stage comes with a small price increase, giving a significant advantage to early investors.
BUY WALL STREET MEMES AT PRESALE PRICE
Shibie Coin – Best meme coin to buy this week
If you’re looking for a meme coin wave to ride this month, Shibie Coin should not be missed out. The token combines Shiba Inu and Barbie hypes.
“This Shiba Inu-Barbie crossbreed is the prancing, panting, and downright provocative queen of the crypto world,” reads the website.
The ongoing presale will last only a week and has a super low target of just $999,999. The word about the meme coin is just getting around, and the presale is expected to pick up the pace during the weekend.
It will most likely sell-out before the scheduled end date.
By the looks of it, Shibie Coin fits all the criteria of a fleeting meme coin sensation. If the investors have their entry and exit points planned out, the Shib knock-off is an opportunity to earn potential 8X-10X returns this month.
That said, we can’t rule out the chances of the meme coin becoming a bigger phenomenon, given the unpredictable nature of the market. Anything can happen here!
BUY SHIBIE COIN AT PRESALE PRICE
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