The cryptocurrency market has been on a bullish streak in recent days, reaching a new all-time high. With Bitcoin’s price exceeding $97k, the altcoin market is also seeing a surge in momentum.
If you’re looking to invest in undervalued altcoins but are unsure about their potential, we’ve got you covered. Here are the top 3 cryptocurrencies that have the potential to outperform other projects by the end of December 2024.
- Bone ShibaSwap (BONE)
Bone ShibaSwap, also known as the "DOGE-Killer," is the governance token of the ShibaSwap decentralized exchange built on the Ethereum blockchain. It allows users to vote on proposals, submit proposals, and access NFTs. Despite being a meme coin, SHIB is considered a serious competitor to Dogecoin and is the second-largest memecoin.Bone ShibaSwap has seen significant growth in its community recently, leading to a market capitalization of around $146 million. The BONE token is currently ranked 381st in the cryptocurrency market. If there is an altcoin season in the market, the price of BONE could potentially reach $2 by the end of the year. However, a bearish reversal could see the price drop to $0.3128.
- Aethir (ATH)
Aethir is a revolutionary altcoin that is focused on disrupting the AI and gaming industries with its advanced distributed infrastructure. It aims to cater to enterprise AI clients by providing powerful AI chips worldwide. By making GPU cloud accessible to the community, Aethir is bringing cutting-edge technology to the masses.The Relative Strength Index (RSI) for Aethir has entered the overbought range, and its SMA indicator supports a bullish outlook. If the bullish sentiment continues, ATH may retest its all-time high this year. On the other hand, a bearish scenario could see the price drop to $0.050.
- Decred (DCR)
Decred is known as "evolved money" in the cryptocurrency space. By combining proof-of-work (PoW) with proof-of-stake (PoS), Decred has created a system that is adaptable and secure. Its emphasis on security, privacy, scalability, and a decentralized treasury makes it a strong contender for financial sovereignty.Decred is currently priced at $17.02 with a trading volume of $3.123 million and a market capitalization of $284.73 million, ranking 263rd in the global cryptocurrency market. With increased price volatility, Decred may retest its multi-year high. However, a bearish trend could see the price drop to $10.
In conclusion, these three altcoins have the potential to outperform other projects in the cryptocurrency market by the end of 2024. Investors should conduct thorough research and consider market conditions before making any investment decisions.