Traders have hit the buy button at a high pace today as Bitcoin jumps 5%.
This comes after a daunting selloff yesterday, but now the next bull rally looks imminent.
U.S. Money Printer Turns On, Market Gains Pace
Crypto saw record liquidations yesterday as fear of a global recession swept the market.
But today, momentum has flipped bullish.
The U.S. government is counteracting the slowing economy with massive liquidity injections.
It starts with the government buying up to $46 billion of its securities, starting tomorrow.
And that’s not the only reason for the bullish momentum.
According to CME Market’s FedWatch tool, the market is pricing in a bigger-than-expected interest rate cut in September’s Federal Reserve Open Markets Committee meeting.
Before the recent crash, the market expected a 25-basis-point cut. Today, it’s bracing for a 50-basis-point cut.
A bigger interest rate cut means borrowing money becomes cheaper, enabling investors to take on more risk and invest in assets like Bitcoin.
Indeed, Bitcoin and the broader crypto market have soared as a result.
Currently, Bitcoin is trading at $54K after testing lows of $48K yesterday.
Per CoinMarketCap data, BTC is up 5% today but remains down 17% this week and 3% this month.
Regarding its upcoming direction, prominent analyst Zer0 says, “The lows are probably already in.”
According to the analyst, the next 14 months will be “up-only,” with Bitcoin pushing to expected highs between $150K and $200K.
He also notes altcoins could see massive gains.
However, right now, many altcoins remain at significant discounts.
As such, this could be the perfect buying opportunity.
5 Best Cryptos to Buy Now
Let’s explore those altcoins with the most potential.
Base Dawgz
According to Zer0, the meme coin asset class is among the most promising.
And when it comes to meme coins, few projects show as much potential as Base Dawgz.
It’s undergoing a presale and has raised $2.8 million so far.
Evidenced by its total raise, there’s a huge buzz. But it’s for good reason.
First off, Base Dawgz is multichain.
While native to the Base network, you can also buy Base Dawgz on Ethereum, Solana, BSC, and Avalanche.
Moreover, it has a staking mechanism that rewards holders for locking up their investment.
In addition to incentivizing community members, this is a huge boost to the project’s tokenomics.
And lastly, Base Dawgz has a refer-and-earn scheme that lets users refer others to the presale to gain airdrop eligibility.
All of this places Base Dawgz in a unique position.
By harnessing blockchain innovations, it has become a one-of-one meme coin with a lot to offer.
Right now, investors can buy $DAWGZ for $0.007414, but this price will rise throughout the campaign.
Ondo
Ondo might just be crypto’s biggest sleeping giant.
That’s because there are reports that $9 trillion asset manager BlackRock has just invested.
According to data from Arkham Intelligence, BlackRock has just bought $8.1 million worth of ONDO tokens.
And it wouldn’t be the first time Ondo and BlackRock have aligned.
Ondo is a real-world asset protocol offering a yield-generating stablecoin and tokenized U.S. treasuries.
In March, Ondo moved $95 million worth of assets into BlackRock’s BUILDL fund, providing Ondo users with access to the wirehouse’s blockchain venture.
The token’s price has soared since reports about BlackRock’s investment.
Currently, Ondo is trading at $0.7118, up 20% today, down 26% this week, and down 53% from its June ATH.
Currently, Ondo has a $989 million market cap and a $301 million 24-hour trading volume.
Pepe Unchained
Ethereum Founder Vitalik Buterin has just shone the light on layer 2 development, and this is great for Pepe Unchained.
The new cryptocurrency is building a meme coin-focused Ethereum layer 2 blockchain.
Currently, investors can buy Pepe Unchained at presale. It has raised $7 million so far.
Before we look at Vitalik’s comments, let’s explain how Pepe Unchained works:
It’s a blockchain that handles Ethereum transactions with lower fees and higher speeds.
There are also exciting features like staking, a block explorer, and a dedicated Ethereum bridge.
Pepe Unchained’s purpose is providing a more affordable home for meme coin traders that encapsulates meme culture.
Back to Vitalik, he tweeted that a seamless and interoperable layer 2 experience is coming soon.
Put differently, accessing and moving liquidity to layer 2 networks like Pepe Unchained will be effortless.
So, the timing couldn’t be better for Pepe Unchained to launch.
Currently, traders can buy $PEPU for $0.0089105, but this price will rise throughout the presale.
Bittensor
All eyes are on Bittensor as the market recovers.
It’s currently the utility coin with the most gains, up 32% today.
Adding to the excitement, its price has just broken its daily resistance level, signaling more growth could be coming.
Bittensor is a decentralized network for artificial intelligence computing.
It’s a sophisticated setup that developers can tap into for computational power and build programs in any coding language.
Given its strength today, analysts are urging traders to watch TAO closely.
“I expect TAO to outperform every single AI coin in the future,” said GonzoXBT.
Currently, TAO is trading at $270.74. While it is up 32% today, it remains down 15% this week but is up 25% this month.
TAO holds a $1.9 billion market cap and a $128 million 24-hour trading volume.
PlayDoge
If the crypto market keeps gaining strength, new meme coins like PlayDoge could explode.
PlayDoge is a hybrid meme coin and Play-to-Earn (P2E) token.
This combination could be a recipe for considerable growth.
With PlayDoge, you have a viral meme coin allure akin to Dogecoin or Dogwifhat.
Meanwhile, you also have P2E-driven demand helping instill long-term, sustainable gains.
And there’s more.
PlayDoge is inspired by the hit 1990s Tamagotchi game.
It follows a similar concept. Users look after a virtual pet, ensuring it’s happy and healthy.
The big difference is that PlayDoge users earn $PLAY rewards.
These tokens have multiple utilities, such as staking and in-game purchases. Users must also hold $PLAY to qualify for rewards.
So, in addition to a meme coin and gaming allure, PlayDoge also appeals to fans of the 90s blockbuster game.
Currently, PlayDoge is in its presale and has raised $5.9 million so far.
The $PLAY presale price is $0.00526, but this will rise in 21 hours.
