The cryptocurrency market is in recovery mode, suggesting that the 2024 bull cycle is far from over. This sentiment is further strengthened by the Bitcoin chart mirroring the 2017 bull market. PlanB, in his recent analysis, explained that Bitcoin is only four months into this bull cycle.
Bitcoin Mirrors 2017 Rally, Market Poised for Explosive Growth
In his latest analysis, PlanB also said that Bitcoin is currently showing "2017 vibes." This was a very significant year as the price of Bitcoin increased from $1,200 (at its fourth bullish month) to over $20,000 at the end of the year.
This will be a repeat of the 2017 bull market, and therefore, the crypto market is expected to skyrocket this year. According to the predictions of market analysts, the top 5 cryptocurrencies likely to outperform the market are KangaMoon, Stacks, Ethereum, Solana, and Dogecoin.
Top 5 Coins That Are Ready for Parabolic Price Rise in 2024
If the 2024 bull market sees the same momentum as the one in 2017, then the future of Bitcoin is pretty bright since it can hit over $1 million. While the broader crypto market will benefit from this price explosion, there are the top 5 cryptocurrencies predicted to dominate this bull cycle.
1. KangaMoon (KANG)
KangaMoon (KANG) is quickly gaining traction for creating a dynamic ecosystem with a utility token in the meme coin market. The KangaMoon strategy revolves around its Social-Fi concept, which centers around building a thriving community. The Social-Fi model of KangaMoonrewards social participation and engagement, with community members earning free KANG tokens depending on how active they are.
For its teeming members, KangaMoon is a reward haven with up to 250 million tokens to be won. In addition to this new concept, KangaMoon far surpasses many top meme coins by incorporating a Play-to-Earn game into its ecosystem. Thanks to its unique new model, KangaMoon has had a very successful crypto ICO, raising $6,917,519.179 and onboarding over 32,000 users.
The project has also been listed on CoinMarketCap and Coingecko, with BitMart announcing support for the KANG token. Ahead of the BitMart listing, the price of KANG has already increased by 400% to hit its current price of $0.025. With Bitcoin leading the way, a massive price rally of up to 50x is expected for KANG, making it one of the top meme coins to buy right now.
2. Stacks (STX)
Stacks (STX) is one of the top crypto coins that can see a parabolic price increase in the year 2024. Since Stacks is closely connected to Bitcoin, a BTC breakout might also result in a significant price increase for this particular coin. Moreover, the demand for DeFi on the Bitcoin network has grown as well.
This way, a platform like Stacks that provides layer two for DeFi on the network increases its chances of gaining price action this year. STX is one of the few cryptocurrencies that have been bullish over the past year, with a more than 200% gain. As the DeFi demand rises and the crypto market's bullish trend grows, STX is expected to rise by well over 10x to record a new all-time high of over $20.
3. Ethereum (ETH)
The leading altcoin, Ethereum (ETH), is on the list of many top experts as one of the best altcoins to buy in 2024. The pseudonymous trader, Immortal, in his recent post on X, stated that an ETH season could start soon "fueled by disbelief, as all the other times."
One of the reasons why market experts are bullish about ETH is the potential launch of spot ETFs for Ethereum this year. Based on the predictions of Immortal, the price of Ethereum could break above $4,000 by June. Before the end of 2024, ETH could see highs of over $10,000.
4. Solana (SOL)
Solana (SOL), a top Ethereum competitor, is also ranked among the best altcoins to buy in this bull cycle by Immortal. Year-over-year, SOL has surged by more than 800%, far outperforming the likes of Bitcoin, Stacks, and Ethereum.
Market experts are optimistic that Solana can repeat its meteoric price increase as we head deeper into this bull cycle. Immortal believes it will not take long for SOL to set a new ATH of $360 later this year. When that happens, Solana bulls would look to push the altcoin price above the $500 market.
5. Dogecoin (DOGE)
Dogecoin (DOGE), the OG of the meme coin market, is one coin analysts are backing to outperform the market in 2024. A major reason why market experts are big on DOGE is because technical analysis indicates that the meme coin is about to form a golden cross
The golden cross happens when the 50-week SMA rises above the 200-week SMA. When this bullish pattern was last seen in 2021, Dogecoin's price increased by over 8,000%. The excitement surrounding Dogecoin has been increasing since there's a chance this achievement will be repeated in the coming weeks.
The Best Crypto Investment of 2024
Though Stacks, Ethereum, Solana, and Dogecoin are rated as top crypto coins with the potential to skyrocket in price this year, KangaMoon has the potential to rise higher and earlier than the rest. It is a project trying to establish a new sector in the crypto market. This is why analysts have predicted a potential 50X increase, positioning KANG above other coins under consideration in this article.
Closing Thoughts
While Bitcoin leads the way, KangaMoon, Solana, Ethereum, Stacks, and Dogecoin are the five hottest cryptocurrencies to invest in for the 2024 bull cycle. These projects provide a huge utility which guarantees the long-term tokens' value increase. Lastly, because KANG is founded on a concept, it has been picked as the frontrunner of this year's bull market.
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