Is it altcoin season? Will altcoins rally? What’s happening with altcoins? These questions seem endless, and no one can predict with certainty what’s next.
As the crypto markets continue to experience uncertainty, many traders are wondering whether it's the right time to invest in altcoins. While no one can predict the future with certainty, focusing on fundamentally strong altcoins during such times can be a wise strategy.
In his latest video, renowned crypto analyst Nicholas Merten has shared his top altcoin picks that could perform well based on their solid fundamentals. Let's take a closer look at each of these altcoins.
1. Fetch.ai (FET)
According to Merten, Fetch.ai has been an altcoin of interest, especially after its involvement in the Artificial Super Intelligence (ASI) project, which also includes SingularityNet and Ocean Protocol.
He's been watching Fetch.ai closely as it trades at a discounted price within a specific support range, following previous resistance levels.
2. SingularityNet (AGIX)
SingularityNet is another crucial player in the AI-driven blockchain arena. Known for its involvement in decentralized AI, it has partnerships with Fetch.ai and Ocean Protocol, making it a key part of the AI and Big Data ecosystem.
Like Fetch.ai, SingularityNet is being closely monitored for long-term growth, particularly as AI becomes a dominant trend in both the tech and crypto sectors.
3. Ocean Protocol (OCEAN)
Merten highlights Ocean Protocol, which focuses on data sharing and privacy, playing a key role in the decentralized AI and Big Data space.
The analyst is particularly interested in Ocean's market positioning, expecting it to benefit from the growing demand for data solutions in AI.
4. Render Token (RNDR)
Render is a project that the analyst has been discussing, which utilizes decentralized GPU power to aid in graphics rendering, a crucial aspect in gaming, virtual reality (VR), and AI.
He's been keeping an eye on Render's price as it approaches key support levels. The analyst believes Render has strong potential to grow, especially as the demand for AI and graphics rendering continues to rise.
But Wait... What About Meme Coins? Are They Dead?
The analyst also addressed the topic of meme coins and whether it's the right time to be investing in them. He noted that meme coins are currently showing sideways price movement, which might be hinting at an accumulation by large stakeholders.
However, overall, meme coins are not showing major strength against Bitcoin. The market capitalization of meme coins is lower compared to 2021 and he advised focusing on smaller-cap meme coins rather than big ones like Dogecoin.
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