The cryptocurrency market came under pressure this week as investors continued to book profits. The Bitcoin price plunged from its year-to-date high of $111,900 to below $102,000 and may be on its way towards $100,000.
Best Crypto to Buy the Dip In
The ongoing crypto crash may offer a good opportunity to buy some altcoins ahead of the next bull run. This article highlights some of the best crypto to buy, including popular names like Tron (TRX), Polkadot (DOT), and Bitcoin Pepe (BPEP).
Tron (TRX)
Tron is one of the best cryptos to buy because of its solid fundamentals and technicals. First, it boasts a healthy staking ratio of 4.5%, ensuring a steady return even as cryptocurrencies fluctuate.
Second, Tron is the most profitable chain in the cryptocurrency industry, making over $1 billion this year. It generates most of this money from stablecoin processing, where it handles a significant portion of USDT transactions.
Furthermore, TRX is one of the most deflationary tokens in the cryptocurrency space, burning millions of tokens daily. This reduction in supply may boost the token price in the future.
Technically, Tron has moved into the accumulation phase of the Wyckoff Theory, which is characterized by low volume and volatility. This phase is often followed by the markup, which may push it to last year’s high of $0.4488, representing a 67% increase above the current level.
Polkadot (DOT)
Polkadot is another top cryptocurrency to buy for significant gains once the ongoing sell-off subsides. Like Tron, DOT has a high staking yield of 11%, meaning that a $10,000 investment will yield an annual return of approximately $1,100.
Polkadot is also going through the accumulation phase of the Wyckoff theory, meaning that it may rebound sharply in the coming weeks. It has also formed a triple-bottom pattern at $3.56, with its neckline at $11.60.
Therefore, if this pattern works out well, it means that the coin will bounce back to $11.60, up by 210% from the current level. A move above that level will signal more gains, potentially to the 38.2% retracement level at $23.47, up by 514% from the lowest level this year.
READ MORE: Polkadot Price Could Surge to $10 as Elastic Scaling Launches on Kusama
Bitcoin Pepe (BPEP)
Bitcoin Pepe is another top cryptocurrency to buy for big gains. Currently in its presale, it has gone viral, attracting thousands of buyers from around the world. The coin has raised over $13.7 million, with first-time buyers receiving a 30% bonus.
Bitcoin Pepe has attracted this funding because of its mission to disrupt the meme coin industry. It aims to do that by creating the first layer-2 blockchain focused on meme coins on the Bitcoin network. It will be a competitor to Stacks and Core, the biggest layer-2 networks on Bitcoin.
Bitcoin Pepe’s platform will enable users to mint new meme coins and possibly achieve the success that Solana attained.
The next major development for Bitcoin Pepe is expected to occur this mid-month, when the creators will announce the dates for the token generation event (TGE) or airdrop. They have hinted that they have secured major listing agreements with some of the biggest exchanges, which may help boost the token’s price.
