The cryptocurrency market has been experiencing a downturn, with Bitcoin’s recent dip below the $27,500 mark neutralizing its previous gains. In the last month, Bitcoin’s price has fallen by 7.57%, with similar decreases observed among other top-10 assets on CoinGecko. Data collated by Santiment suggests a decrease in social media discussions around top crypto assets, including Bitcoin, which saw an 18% drop. A survey by Santiment found that nearly 44% of traders believed that crypto markets had peaked in April, indicating a lack of confidence in further price increases.
Despite this trend, Bitcoin’s whale accumulation chart has shown a bullish divergence, with Bitcoin’s large wallet holders acquiring 0.29% of the Bitcoin supply from April 10 to May 10. With the next halving nearly 50 weeks away and Bitcoin typically experiencing an uptick in price as the halving approaches, long-term investors may still anticipate a resurgence of the cryptocurrency in the coming months.
Considering their strong fundamentals and/or positive technical analysis, some of the best cryptos to buy now include AI, PEPE, SPONGE, BGB, YPRED, ATOM, and DLANCE. AI, in particular, has been gaining momentum, with its presale of its native $AI token raising over $5.8 million so far in funding. The AiDoge project is developing a unique social platform that leverages AI technology to generate memes, and users can earn cryptocurrency rewards if their memes gain popularity. The project’s presale is structured in stages, with the price of the $AI token gradually increasing, introducing a unique concept in the crypto market known as “meme-to-earn.” As the hype around AiDoge continues to grow, investors are moving quickly to secure their $AI tokens.
On the other hand, Pepecoin has been undergoing a correction phase, with its price showing a significant breakdown of the $0.00000170 support on the intraday level, providing sellers with an additional barrier to exert pressure on buyers. However, if the coin’s price rebounds from the $0.00000140 support, traders should look for a breakout at $0.00000171 as the first sign of price recovery. It is essential to note the risk of a breakdown below $0.00000140, which could result in a 39% downfall for Pepecoin.
The crypto market’s recent trend indicates a lack of confidence in further price increases, but long-term investors may still anticipate a resurgence of cryptocurrencies in the coming months. Some of the best cryptos to buy now include AI, PEPE, SPONGE, BGB, YPRED, ATOM, and DLANCE, with AI, in particular, gaining momentum due to its unique concept of “meme-to-earn.” However, traders should also be cautious of Pepecoin’s potential further decline and look out for potential support levels.
