As January 2024 is getting closer, a renewed wave of optimism has flooded the cryptocurrency market, the participants of which have probably made a wish for further gains and more agreeable regulators, particularly in the United States, as evident in the recent advances of Bitcoin (BTC) and altcoins.
With this in mind, Finbold has analyzed the crypto sphere to arrive at the list of several altcoins, i.e., cryptocurrencies other than the flagship decentralized finance (DeFi) asset, that are demonstrating strength and, therefore, represent a good buy in January 2024.
1. Dogecoin (DOGE)
As it happens, Dogecoin (DOGE) has experienced an increase in the number of accounts holding more than $1 million worth of DOGE over the past year, and at press time, it amounted to 718, with as many as 107 addresses possessing over $10 million of the famous dog crypto, as Finbold reported on December 20.
In line with the demonstrated trader confidence, Dogecoin has increased its price by 1.45% in the last 24 hours. In addition, it has gained 0.53% across the previous seven days and advanced 14.96% over the past month, and trading at $0.09, according to the most recent chart information.
2. Shiba Inu (SHIB)
At the same time, its fellow dog meme crypto asset, Shiba Inu (SHIB), is recording new gains against the backdrop of its team reportedly working with internet domain service D3 to establish the ‘.shib’ domain. Additionally, its weekly close above $0.000011 could possibly catapult it even further.
Presently, Shiba Inu is changing hands at the price of $0.0000105, suggesting an increase of 2.54% on the day, in addition to advancing 10.43% across the previous week and accumulating a more significant gain of 21.17% on its monthly chart, as per the latest information retrieved on December 20.
3. Hedera (HBAR)
Meanwhile, Hedera (HBAR) is also showing promise, particularly considering its partnership with South Korean automotive giants Kia and Hyundai to introduce a CO2 emission monitoring system, as well as the announcement of joint efforts with the United Nations on addressing climate change.
At press time, the price of Hedera stood at $0.088, which means it was up 10.28% in the last 24 hours, 12.67% higher than seven days ago, and has raced 31.08% across the previous month, according to the most recent chart data obtained by Finbold.
4. Bonk (BONK)
Finally, Bonk (BONK) is the most recent trending meme cryptocurrency in the market that has experienced a massive increase in both its price and its market capitalization after crypto exchange Coinbase introduced it to its crypto trading platform, as Finbold reported on December 15.
For now, Bonk is trading at $0.00002036, which suggests an increase of 5.23% on the day, a whopping 93.69 gain over the last week, and an advance of as much as 311.31% across the month, as per the data on the crypto monitoring platform CoinMarketCap.
Conclusion
Overall, the above altcoins demonstrate significant potential for further, more massive price increases in the future, especially in terms of the positive developments and optimistic sentiment around them. Still, it is important to do one’s due diligence and research before investing in them in January 2024.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
Tags: Cryptocurrency, Insights