Bitcoin and most cryptocurrencies were in the red on June 18, as the crisis in the Middle East continued, following the Federal Reserve’s decision to leave interest rates unchanged and downgrade its economic outlook.
Bitcoin price dropped below $105,000, while most tokens like Polygon (POL), Hyperliquid (HYPE), Pendle (PENDLE), and Aave (AAVE) plunged by over 5%. Consequently, the market capitalization of all cryptocurrencies dropped to $3.22 trillion, while the 24-hour liquidations dropped to $222 million.
Best Crypto to Buy Now In the Dip
The ongoing Bitcoin and altcoin crash could be a good opportunity to buy the dip. For one, as BanklessTimes has noted before, Bitcoin demand continues to jump while supply on exchanges has dropped to the lowest point in over eight years. Spot Bitcoin ETFs have had robust inflows in the past few weeks.
Another bullish catalyst for Bitcoin and altcoins is that the Federal Reserve has signaled two rate cuts this year and four more in the next two years. Cryptocurrency prices tend to perform well when the Fed is cutting interest rates.
Some of the best crypto to buy are Aerodrome Finance (AERO), Aave (AAVE), and Bitcoin Pepe (BPEP).
Aerodrome Finance (AERO)
Aerodrome Finance’s AERO is one of the best crypto to buy because of the ongoing trajectory of the Base Blockchain, the layer-2 network owned by Coinbase.
Data shows that the Base Blockchain has over 2.45 million active addresses and a total value locked (TVL) of over $5.15 billion and $4.16 billion in stablecoins.
Base has become the blockchain of choice for many developers, with JPMorgan selecting its network for the upcoming stablecoin.
Aerodrome Finance’s daily transaction volume has jumped, making it the fourth-biggest DEX globally.
AERO token has formed an ascending triangle pattern and moved above the 50-day moving average, pointing to more gains. If this happens, the next point to watch will be the 50% retracement point at $1.3170, up by 64% from the current level.
READ MORE: Pepe Price Prediction: Rare Pattern Points to 56% Surge as Whales Buy
Aave (AAVE)
Aave is another top cryptocurrency to buy due to its substantial market share in the decentralized finance (DeFi) industry. It is the biggest player in the sector, with over $27 billion in total value locked. Aave has withstood past black swan events, such as the FTX crash and the Russia-Ukraine war.
The daily chart shows that the AAVE price bottomed at $115.25 in April and then rebounded to $322.30 on June 11. It has now pulled back and moved to $260, a few points above the 50% Fibonacci Retracement level.
AAVE remains above the 50-day moving average and is in the process of forming a higher low. Therefore, the token will likely rebound as bulls target the psychological point of $400.
Bitcoin Pepe (BPEP)
Bitcoin Pepe is another top crypto to buy today after it crossed the $15 million funding mark. This fundraising effort makes it one of the most successful presales of the year.
The surge in demand rose after the developers announced that it would be listed on BitMart and Uniswap, with another exchange being unveiled on June 30th.
Bitcoin Pepe has gone viral, attracting thousands of investors globally, because of its strategy. The developers hope to disrupt the meme coin industry by building a layer-2 network for Bitcoin.
A layer-2 network is a network that accelerates the performance of a layer-1 network, like Bitcoin and Ethereum. While existing layer-2 networks like Base and Arbitrum focus on various areas, such as RWA and DeFi, Bitcoin Pepe’s primary focus is on the meme coin industry.
Analysts are optimistic that meme coins will continue growing in the next decade. A recent report estimated that meme coins will be worth over $925 billion by 2035.
As things stand, Solana is expected to have the largest market share in the industry, and Bitcoin Pepe aims to change that. The PEP-20 standard will enable developers to launch meme coins with ease, thanks to its low transaction fees and instant transactions.
READ MORE: XRP Price Prediction: Top 3 Reasons Ripple Will Surge 46% Soon
