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Crypto Whale Bets On Top Gainers For This Cycle: DOGE Did Not Make The Cut

Release: 2024/07/07 14:46 Reading: 556

Original author:CaptainAltcoin

Original source:https://coinmarketcap.com/community/articles/668a35c4ca5de36c75e5c42c

Crypto Whale Bets On Top Gainers For This Cycle: DOGE Did Not Make The Cut

Crypto Whale Bets on Top Performers, Excluding Dogecoin

A prominent crypto investor has drawn attention by placing bets on potential top performers in the current market cycle. Notably, Dogecoin (DOGE), once a favorite in the meme coin community, is absent from their picks, sparking heated discussions among crypto enthusiasts. This has raised questions about the future of Dogecoin and the appeal of alternative options favored by this influential investor, such as Fantom (FTM) and Near Protocol (NEAR).

Dogecoin (DOGE) Declines, Raising Concerns

Dogecoin has maintained a strong presence in the cryptocurrency realm for nearly a decade. Its transformation from a joke-based currency to one of the top 10 cryptocurrencies by market cap has been remarkable. However, recent market indicators suggest a potential weakening of DOGE's position.

Over the past month, Dogecoin has experienced a significant drop in value, with its price decreasing by approximately 28%. This decline has led to DOGE falling from its previous 8th position on CoinMarketCap to 9th place, as Toncoin surpasses it. The current market capitalization of Dogecoin stands at $17 billion, a significant distance from its previous peak.

The DOGE price has exhibited substantial volatility, plummeting from an average of $0.15 to the current rate of $0.1221, marking its poorest performance in the past three months. This instability raises doubts about Dogecoin's potential resurgence or its potential to fade into insignificance against more innovative projects gaining prominence in the market.

Near Protocol and Fantom Aim for Growth

While Dogecoin struggles to maintain its position, alternative digital currencies have emerged as attractive options for crypto investors. Near Protocol (NEAR) and Fantom (FTM) have recently emerged as strong contenders in the market.

Near Protocol's recent trading patterns have demonstrated stability within the range of $4.89 to $5.67, weathering market fluctuations with resilience. Over the last week, NEAR has recorded a modest 2.55% increase, reflecting a positive sentiment towards the project.

Analysts are cautiously optimistic about Near Protocol's future, with some forecasting a potential surge of more than 20% in the short term, challenging higher resistance thresholds. In 2024, experts predict Near Protocol's trading price could average $9.88, with a potential low of $10.14 and a high of $10.01. Such projections could result in a notable 87.5% return on investment from current levels.

Despite recent price decreases, Fantom continues to attract interest. Currently valued at $0.542909, FTM experienced a 7.37% decline in the past 24 hours. Experts forecast an average trading price of $0.753 for Fantom in 2024, with a range of $0.586 to $0.669. While these projections show more modest gains compared to Near Protocol, they still indicate a potential 14.4% return on investment.

Algotech: Revolutionizing Crypto Trading with AI

Algotech (ALGT) has surged in popularity among investors for its cutting-edge features and promising roadmap. During its presale phase, ALGT raised an impressive $9.7 million at a price of $0.08.

Algotech aims to transform crypto trading and investing through algorithmic trading, leveraging advanced technologies and automation. This strategic approach has the potential to democratize the field for individual investors, granting them access to sophisticated trading strategies typically reserved for institutional entities.

Algotech's combination of technology, strategic vision, and community dedication has positioned it as a prominent choice among investors, garnering attention from influential players in the crypto space. The project's ability to revolutionize traditional trading norms and cater to a wide user base has generated substantial excitement within the crypto sphere.

Learn More:

Visit Algotech Presale
Join The Algotech Community

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