- Investors are looking towards altcoins amid Bitcoin’s prolonged surge.
- Dogecoin, Solana and Celestia are among the coins that could see gains, according to analyst Miles Deutscher.
- Gaming tokens may also benefit from the hype surrounding GTA VI.
On the back of Bitcoin’s seven-day pump, crypto investors are turning their attention to altcoins that may surge in the wake of favourable market conditions. Although it’s far too early to announce an official altcoin season, it appears the lengthy crypto winter is starting to thaw. Prominent investor and social media influencer, Miles Deutscher, has already started to analyse several coins he believes are primed to go on a big run.
World’s Number One Memecoin to Lead the Way
Dogecoin is popular among the crypto community for more than its utility (of which there is admittedly little). DOGE is the original meme coin and a reminder of where crypto came from and the culture that has grown from a tight-knit community into a trillion-dollar enterprise. In fact, Dogecoin is just about to celebrate its 10-year anniversary on the eighth of December, which may push the token back into the spotlight. Additionally, Elon Musk is planning to take the meme coin into the skies with his Doge-1 mission, set for January next year. This, on top of some promising technical signs, informs Deutscher’s contention that DOGE’s next consolidation level could be US$ 0.11 (AU$ 0.16).
“Buy the Dip” on Solana and Celestia
Deutscher is a long-term proponent of Solana and believes the DeFi coin’s fundamentals are incredibly strong, in spite of a minor 24-hour dip (SOL is down 3.4%). The token has been one of the best-performers this year, up over 300% since December 2022, and Deutscher suggests investors should look to accumulate SOL during minor downturns as it gains momentum over the next little while.
The same advice applies to the new Celestia (TIA) project, which has been “dubbed as the next Solana”. The price of a TIA coin has surged 340% in its five weeks of existence, so investors may be waiting a little while to identify a short-term dip.
Deutscher is also strong on gaming tokens given the hype surrounding the upcoming release of GTA VI and the potential inclusion of a blockchain-based economy. If an announcement becomes official, GameFi may quickly soar to become a flavour of the month sector with big gains.
Of course, it’s worth noting that this is just the opinion of one trader. Although Deutscher backs up his advice with strong fundamental evidence, a retrace in Bitcoin could signal the end of the altcoin rally and the re-emergence of a crypto winter once again.
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