The entrance of Bitcoin (BTC) into the price discovery phase of the 2024/2025 crypto bull run has significantly rejuvenated the altcoin market. Leading this resurgence are prominent cryptocurrencies such as Ethereum (ETH), Dogecoin (DOGE), and Solana (SOL). On November 11, during the mid-London session, the crypto market cap, excluding Bitcoin and Ethereum, rebounded from a crucial support level to approximately $717 billion.
Bitcoin’s dominance has reached a significant psychological resistance level of around 60 percent, indicating a potential reversal in the near future. This scenario sets the stage for the commencement of the parabolic phase of the eagerly awaited altseason. The strong support from pro-crypto United States candidates, spearheaded by Donald Trump, along with significant cash inflows into crypto investment products, has bolstered the ongoing bullish outlook for cryptocurrencies.
Top Altcoins to Buy Ahead
Memecoins: Floki (FLOKI)
Following an impressive rally of over 85 percent in the Dogecoin (DOGE) price last week, other meme coins are trailing closely behind, with Floki (FLOKI) leading the charge. Floki has seen a surge of over 44 percent last week, successfully breaking out of a macro-falling wedge pattern. The mid-cap altcoin, boasting a fully diluted valuation of approximately $1.76 billion and an average daily traded volume of about $1.4 billion, is poised to enter its parabolic phase.
DeFi Space: PancakeSwap (CAKE)
The DeFi space continues to serve as the backbone for the mainstream adoption of digital assets. Experts are optimistic about the performance of related altcoins in the upcoming months, especially with anticipated regulatory clarity in the United States. PancakeSwap (CAKE), a small-cap altcoin in this category, is noteworthy with a fully diluted valuation of around $769 million and a daily average traded volume of approximately $162 million. Already listed on Binance, PancakeSwap has grown into a major decentralized exchange (DEX) with over $1.27 billion in total value locked (TVL).
Layer One (L1): Filecoin (FIL)
The layer-one sector is a crucial ecosystem for the tokenization of real-world assets (RWA) and DeFi development, which are anticipated to unlock trillions of dollars in the near future. Filecoin (FIL) stands out in this category, signaling a potential bullish breakout after being confined in a macro-falling trend. Although the opportunity at the $2.94 entry was missed, there remains optimism for Filecoin at its current level. A strong lower boundary that has held for almost two years suggests the possibility of a rebound to $9.50, representing a 145% gain. If a breakout above the upper boundary occurs, Filecoin could potentially reach $30.
