It is a well-known fact that the cryptocurrency sector is highly dependent on Bitcoin and its potential movement and pace. When Bitcoin hits new highs, the altcoin market mimics its rhythm and delivers results based on BTC's bullish or bearish momentum. At press time, BTC is around $61K, significantly below its previous price threshold of $70K. This development also indicates potentially low interest in the altcoin market, making it a suitable time for investors to buy and take advantage of potential coin dips.
Bitcoin is expected to pick up its pace soon, meaning the โdipsโ that investors will buy and hold now will ultimately bring them better returns soon. With this aspect in mind, here are our top 3 cryptocurrency dip recommendations that you should explore while BTC is down.
Also read: Ripple: XRP Weekend Price Forecast: How Close Is the Token to $1?
3 Coin Drops to Explore for Maximum Profits
Cryptocurrency #1: Shiba Inu
Shiba Inu is nicknamed the OG meme coin for a reason. The token is currently working on launching a blockchain-based version of its Shiba Eternity Game, which should boost the pace of the SHIB token. Secondly, the token's layer two solution, Shibarium, has recorded a 388% increase in its online activity metrics, indicating further interest and growth. While Bitcoin is down, SHIB is also holding at lower price levels, making it a tempting meme coin to pick up and hold for the long term.
According CoinCodexShiba Inu is expected to rise by $0.00003389 before July 1.
โSHIB may trade within a price range of $0.00001743 and $0.00003389 this week. โShiba Inu will rise by 94.44% and reach $0.00003389 on July 1, 2024, if it reaches the highest value.โ
Cryptocurrency #2: Ethereum
Ethereum is another promising cryptocurrency hovering around a lower high price of $3,383 at the time of this publication. Ethereum, dubbed the second-largest cryptocurrency by market capitalization, is working to launch its ETFs very soon, a development that should boost the token's price in the long term. These infrastructure developments make Ethereum a lucrative option for investors to explore and hold for the long term.
According CoinCodexEthereum may rise 2% by the end of June to trade at a price level of $3,400.
โEthereum price may rise by 2.86% and reach $3,483.15 on July 25, 2024. According to our technical indicators, the current sentiment is bearish, while the Fear & Greed index shows 30 (Fear). Ethereum recorded 12/30 (40%) green days with a price volatility of 3.64% in the last 30 days.โ
Cryptocurrency #3: Solana
Solana is another promising cryptocurrency making it a lucrative purchase for anyone willing to explore capable crypto drops. Solana ruled the 2024 market bull wave by generating attractive meme coins and tokens for investors to explore and interact with. With stellar on-chain metrics, Solana is poised to play a crucial role in determining the pace of the cryptocurrency market as a whole.
Also read: Petrodollar crash: BTC and gold gain strength as alternatives to the dollar emerge
According CoinCodexSolana may notice a significant increase of 16% at the end of June.
โSolana price may rise by 16.14% and reach $157.99 on July 25, 2024. According to our technical indicators, the current sentiment is bearish, while the Fear & Greed index shows 30 (Fear). โSolana recorded 11/30 (37%) green days with a price volatility of 9.09% in the last 30 days.โ
