The 2024/2025 crypto bull run has ushered Bitcoin (BTC) into a new price discovery phase, reinvigorating the altcoin market. This resurgence is prominently led by stalwarts such as Ethereum (ETH), Dogecoin (DOGE), and Solana (SOL). As of mid-November, the crypto market cap, excluding Bitcoin and Ethereum, experienced a rebound from a pivotal support level, reaching approximately $717 billion during the mid-London session.
Bitcoin’s dominance has approached a significant psychological resistance level of around 60 percent, suggesting a potential reversal soon. This scenario sets the stage for the onset of a parabolic phase, marking the much-anticipated altseason. Further fueling optimism in the crypto market is the increasing support from pro-crypto US political candidates, spearheaded by figures like Donald Trump. Additionally, substantial cash inflow into crypto investment products has bolstered the ongoing bullish outlook for digital currencies.
Top Altcoins to Consider for Investment
Memecoins: Floki (FLOKI)
The memecoin sector, characterized by coins like Dogecoin (DOGE), has shown remarkable activity, with DOGE rallying over 85 percent in recent times. Following this trend, Floki (FLOKI) has emerged as a notable contender, experiencing a surge of over 44 percent last week. This breakout from a macro-falling wedge signifies a potential climb. With over 417,000 on-chain holders, Floki stands on the brink of entering a parabolic phase, boasting a fully diluted valuation of about $1.76 billion and a daily average trading volume of approximately $1.4 billion.
DeFi Space: PancakeSwap (CAKE)
The DeFi (Decentralized Finance) sector remains a cornerstone for the widespread adoption of digital assets. Experts anticipate that DeFi-related altcoins will perform well in the coming months, especially with expected regulatory clarity in the United States. PancakeSwap (CAKE) is a prominent player in this domain, classified as a small-cap altcoin with a fully diluted valuation of approximately $769 million and a daily average trading volume of about $162 million. Already listed on Binance, PancakeSwap has evolved 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 plays a pivotal role in the tokenization of real-world assets (RWA) and the development of DeFi projects, with the potential to unlock trillions of dollars in the near future. Within this sector, Filecoin (FIL) has shown promising signs of a bullish breakout after being confined in a macro-falling trend. Despite missing the initial entry point at $2.94, market sentiment remains optimistic, with the lower boundary holding firm for nearly two years. This sets the stage for a potential rebound to $9.50, representing a 145% gain. Should a breakout above the upper boundary occur, #FIL could aim for the $30 mark.
As the crypto landscape evolves, these altcoins offer intriguing opportunities for investors seeking to capitalize on the ongoing bull run. With market dynamics shifting rapidly, staying informed and strategic in investment choices is essential for maximizing potential gains.
