3 Altcoins ready to awaken and take flight

With Bitcoin (BTC-USD) already well established, altcoins offer fantastic opportunities for speculators. They are usually unknown to the masses, but full of potential. That’s why they are so sought after by people looking for the “next Bitcoin”.

Undervalued altcoins usually have three things in common:

1) They have real-world utility. This means they can be used by global industries for many applications. This mass market adoption means huge profit potential for investors who hold the coin early.

InvestorPlace – Stock market news, stock advice and trading tips

2) Almost no one in the mainstream will have ever heard of it. No one in the mainstream had control of Bitcoin until it was already worth thousands of dollars.

3) They tend to be only a few dollars, often less than 1 cent. Those who bought BTC when it was worth less than $1 should be very happy right now! This is why undervalued altcoins are so sought after.

Pepper (PEPE-USD)

Cryptocurrency coins on phone screen showing statistics for various cryptocurrencies. Cryptocurrencies to buy before the market swings. the rise of meme cryptocurrencies. altcoins

Source: Chinnapong/Shutterstock

Pepe’s (PEPPER-USD) The price surge came later Coinbase (NASDAQ:CURRENCY) futures listed for the meme token on its platform. This mainstream acceptance of a cryptocurrency historically suggests the start of a long-term uptrend. Those who get in early will have an undervalued altcoin in their hands, if history is any guide.

But what’s even more encouraging is that this pump came after a much larger one from a month earlier. So this Coinbase listing is just the latest building block of a very large platform.

To track PEPE’s recent growth, on May 3, 2024, whales were spotted investing in 4.04 trillion PEPE tokens.

On the chart, PEPE recently broke out of a promising bull flag pattern. It is currently pushing against the resistance of an inverse head and shoulders pattern. Breaking above its last resistance suggests that the still undervalued altcoin could rise again if technical factors develop as expected.

If it does, PEPE will nearly double its current price. But this would be helped a lot by PEPE’s infamous advertising machine, combined with a Ethereum (ETH-USD) as PEPE is based on the ETH blockchain.

Ivy (HBAR-USD)

Concept tokens for Hedera Hashgraph (HBAR) on a black keyboard.

Source: Shutterstock

In what is quite typical for the altcoin community, Ivy (HBAR-USD) has gone through a pump and dump cycle. It was due to misinterpreted news That Black rock (NYSE:BLK) would tokenize its fund on HBAR’s hashgraph.

The consequences left the price of HBAR at previous levels. But this presents an opportunity for those looking for an undervalued altcoin. HBAR is in a long-term uptrend that dates back to October 2023. It is still a full 80% off its all-time highs.

The story continues

All promising factors. But it must be said that the profit potential of this undervalued altcoin is more of a long-term play. It could take months to get over BlackRock’s recent meeting. But it is currently near the bottom of an ascending channel, making it a good time to buy.

Even longer term, its all-time high was in 2021, so it would need even more time to reach those highs, and obviously depends heavily on market conditions remaining bullish for cryptocurrencies as a whole.

Near Protocol (NEAR-USD)

NEAR Protocol (NEAR-USD) logo on a smartphone held by a person

Source: shutterstock.com/FellowNeko

Close to the protocol (NEAR-USD) entered a strong uptrend in January 2024 and is currently wrapping in a bullish flag pattern. Given the length of this bullish flag, a potential breakout could occur fairly soon if the technicals resolve normally.

A breakout of this flag shows little resistance on the way to its one-year high near $8.90. Expect a test of resistance around that price in the short to medium term. But in the long term, its all-time high is above $20.

The rise in popularity of The level of data availability of NEAR appears to have fueled the bullish trend in recent months. But the most promising thing is that the NEAR protocol has the distinction of having great real-world adoption. This is partly due to his collaboration with KaiKaian ecosystem of rewards.

This is along with many other NEAR tentacles held in the crypto space, such as integration with MetaMask, for one thing. The current price of NEAR makes it an extremely undervalued altcoin. Perhaps one of the most undervalued altcoins in the world currently.

As of the date of publication, Sam Farnham did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to InvestorPlace.com Guidelines for publication.

Since 2012, Sam has been helping investors, traders and wealth seekers with his technical and fundamental analysis of the financial markets and during this time he has developed six trading systems. He is always looking for more financial opportunities to share with readers.

More from InvestorPlace

The mail Sleeping giants of cryptocurrencies: 3 Altcoins ready to awaken and take flight appeared first Place of investors.

Source