On a modestly bearish day for most major cryptos that saw Bitcoin (BTC) slide 1.5% to the low $67,000s and Ethereum (ETH) drop 2.5% back to the mid-$3,700s, traders hunting for the best crypto to buy now are scouring the altcoin market for outperformers.
The movement of billions of dollars of Bitcoin between wallets associated with Mt Gox kneecapped a strong start to the week.
Bitcoin and Ethereum are both now down 4-6% from earlier weekly peaks. But any dips are likely to remain shallow and short-lived.
That’s because there has been a lot of good news recently in the crypto market. The SEC’s softening anti-crypto stance and their recent approval of spot Ethereum ETFs.
Increasingly pro-crypto rhetoric from US Presidential candidate Trump and growing support for constructive crypto legislation in Congress.
Macro may also provide tailwinds, assuming this Friday’s US inflation data points to continued disinflation, supporting Fed rate cut bets.
As the market eases lower, traders are hunting for cryptos that might be able to deliver fast gains.
Here are some altcoins that might be the best crypto to buy now.
Best Crypto to Buy Now
Shiba Inu (SHIB)
Shiba Inu (SHIB) has rapidly risen in the past three days as bets on Ethereum ecosystem growth come in.
According to CoinMarketCap, the Ethereum-based meme coin has been up 5% in the past 24 hours and was last trading above $0.000027.
SHIB even managed to hit more than one-month highs above $0.000029 earlier in the session.
A technical break earlier this month suggests a retest of yearly highs is on the cards.
Given that SHIB could quickly rally 65%, it’s a strong candidate for the best crypto to buy now.
Worldcoin (WLD)
Worldcoin (WLD) has been a big underperformer in recent months compared to many other cryptos.
But it looks perky on Wednesday, last up 7% in 24 hours as per CoinMarketCap.
Last at $4.86, WLD is eyeing a push to the north of its 21 and 50DMAs. This could open the door to a rally back to yearly highs at $12.
The prospect of quick 2.5x gains makes WLD potentially the best crypto to buy now.
Chiliz (CHZ)
Chiliz (CHZ), the token that powers the sports and entertainment-focused crypto platform Socios, continued to rise on Wednesday.
CHZ was last up 8.5% in 24 hours and trading just under $0.16. That means it’s about to challenge its 2024 highs, which are just below $0.17.
And a break above here could ignite further momentum into the altcoin’s recovery.
CHZ is still down 82% from its record highs. If it can return to these prior peaks, investors could easily earn 5x gains.
That’s why CHZ is potentially the best crypto to buy today.
Alternative Investment Strategy to Consider – Crypto Presales
Investing in altcoins can be a great way to make a quick profit.
However, traders often overlook an alternative high-risk/reward strategy that could deliver even bigger gains: investing in new crypto presales.
New web3 projects often raise funds by selling their native protocol token to early investors. These sales are almost always conducted at a steep discount to the project’s potential.
Most presales will sell their token priced at a market cap of $10-30 million. If a project gains traction, however, its token can easily reach a market cap of $ 100 million.
Savvy presale investors routinely bag gains of 10x or more. Of course, investing in upcoming ICOs comes with many of the same risks as traditional start-up investing.
A project’s success relies heavily upon the competency of management and execution. A presale investment can also go to zero.
To help investors navigate the market, the experts at Cryptonews have compiled a list of their favorite presales. Here are their top 22 picks.
22 Best Crypto Presales to Invest In Now
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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