Altcoins
Here are 7 high-risk, high-reward Altcoins to buy this week
Renowned analyst Joe Parys has identified seven altcoins that he considers high-risk but potentially profitable investments, predicting they are about to explode.
First, Parys referenced CoinGecko statistics revealing how some altcoin narratives generated returns in excess of 1,310% for investors during the first quarter of 2024.
Likewise, it highlighted the current dynamics where tokens like PEPE recently reached a new all-time high (ATH). Parys acknowledged the market’s high volatility, but emphasized that this volatility presents opportunities for astute investors.
Accordingly, Parys continued to suggest that the real increase altcoins have yet to happen. Bitcoin’s dominance is expected to wane in the following months, paving the way for the long-awaited altcoin season.
In light of this, he outlined seven high-risk, high-reward projects altcoins that investors may consider buying to strategically position yourself for the next period of explosive growth in the altcoin market.
Top 3 High Risk Coins
gasket the list is CARV, which aims to create the largest modular data layer for games and AI. While still in its infancy with an imminent sale this month, CARV has secured support from notable investors such as HashKey, Consensys Ventures, and Tribe Capital.
Another of Parys’ selections is OrangeDX (O4DX), hailed as the first-generation Bitcoin DeFi hub. It is a Bitcoin protocol platform for trading, bridging, flipping, earning, lending and borrowing.
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Parys’ third recommendation is the Elixir project, which is aimed at the gaming industry. Elixir prides itself on enabling internet order book liquidity and is supported by a robust network of over 10,000 validators.
Even though his token hasn’t launched yet, Parys is confident that new high-risk ventures like Elixir are worth considering for investment.
Recommended high risk meme coins
Among other high-risk projects recommended by the analyst is the meme-based project Foxy. According to the disclosure, Foxy deserved the list given that meme coins were a dominant force in the first quarter of 2024, with the top ten meme coins posting an average return of 1,313%.
Essentially, Parys selected the Foxy meme coin for its compelling narrative that could potentially lead to explosive growth.
The fifth project to make Parys’ list is the BRETT meme coin, which recently captured media attention by reaching an all-time high. Currently trading at $0.09201, BRETT is up more than 55% in the past week and up 174% in the past month.
Additionally, Parys highlighted Lingo, an emerging project on the Solana and Base blockchains. The project focuses on reward tokens based on real-world assets (RWA).
Recently, Lingo made headlines by starting an airdrop as a reward for members of its community. This followed a successful campaign which saw over 2 million tweets from 150,000 participants for its newly launched Lingo Island.
The latest high-risk project mentioned by the analyst is Gummy, a venture that operates on the Solana blockchain. Gummy is currently gaining attention by offering rewards to users who bet on their tokens.
Attention
In particular, Joe Parys emphasized throughout the video that the tokens he recommends are projects in which he is personally investing. As a result, he urged viewers to conduct independent research before committing to projects.
Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinion of The Crypto Basic. Readers are encouraged to do thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
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