2024-5-7 09:19 |
Miles Deutscher, a prominent crypto analyst, has shared his weekly token and narrative watchlist, highlighting the potential for altcoin continuation if Bitcoin (BTC) manages to hold its current range. With Bitcoin back within its range after a downside fakeout, Deutscher sees this as a potential foundation for the next leg up in the market.
AI Sector Outperforms, Catalysts on the HorizonThe AI sector has been the strongest performing sector during the recent market bounce, and Deutscher expects it to continue outperforming if altcoins witness continuation. With upcoming catalysts such as the Apple WWDC, NVIDIA earnings, and ChatGPT 5, the AI narrative retains constant mindshare due to its endless real-life news flow and hype.
Specific AI Altcoins to Watch $RNDR: Trading as the most direct proxy to speculate on the Apple event due to their “partnership” with Apple. Historically, it has also traded as a leader in the AI sector during rotations. $NEAR, $FET, $AIOZ: Many AI altcoins have bounced cleanly off 1D support and made a higher low, indicating potential for further upside.$TON, which was the talk of the town recently, experienced a “sell-the-news” event after Token2049. However, there are still developments brewing, including the recent announcement of Pantera’s investment, making it a sentiment play to watch.
Read also: Arkham Unmasks $251 Million Bitcoin Trove Seized From Convicted Drug Kingpin
$ENA: Bullish Market Favors Ethena, Potential Exchange Listing RumorsAs the market looks bullish again, funding is expected to trend back towards positive, inherently benefiting Ethena ($ENA). The team has been cooking recently, announcing more reward boosts, with the founder also tweeting “big week.”
Rumors of a T1 exchange listing are also circulating. However, investors should be mindful that ENA is reflexive based on funding rates, outperforming during bullish periods and vice-versa.
.rh-colortitlebox{margin-bottom:30px;background:#fff;line-height:24px;font-size:90%}.rh-colortitlebox .rh-colortitle-inbox{display:flex;align-content:center;padding:15px;font-weight:700;font-size:110%; line-height:25px}.rh-colortitlebox .rh-colortitle-inbox i{line-height:25px; margin:0 10px; font-size:23px}.rh-colortitlebox .rh-colortitle-inbox svg{width:25px;margin-right:10px}.rh-colortitlebox .rh-colortitle-inbox-label{flex-grow:1}.rh-colortitlebox .rh-colortitlebox-text{padding:20px}.rh-colortitlebox-text>*{margin-bottom:20px}.rh-colortitlebox-text>:last-child{margin-bottom:0} New Meme Coin to Watch Aiming to be Next $BONK, $WIF or $MEW.rh-toggler-open{height:auto !important} .rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important} .rh-toggler-open .rh-tgl-hide{display:block !important} .rh-tgl-show, .rh-tgl-hide{cursor:pointer} .rh-contenttoggler *{box-sizing: border-box !important} .rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;} .rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}Milei Moneda is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president known for his libertarian and pro-Bitcoin stance. You have an opportunity with the ongoing low presale price to get in early!
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Show more +Show less – $JTO: Building the “Eigen Layer of Solana”Word is getting around that Jito ($JTO) is building the “Eigen Layer of Solana,” essentially restaking for SOL.
Given the hype built around Eigen, similar things could be seen on JTO if the team can pull it off. The restaking narrative has not fully taken off yet, and the “failed” airdrop hasn’t helped in the short term.
$POPCAT: Strongest Contender for $1B Market Cap Among Cat Meme Coins$POPCAT has been one of the strongest tokens in the market during the recent dip and continues to push towards new highs. Despite some FUD over the weekend regarding copyright issues, the token seems to be shrugging it off well.
Deutscher notes that not a single cat meme coin has yet to hit a $1B market cap, and POPCAT seems the best contender for now.
Other Tokens to Watch: $ETHFI, $SEI, $FRIEND $ETHFI: Despite many LRT related tokens selling off after Eigen, TVL still seems to be increasing. Deutscher believes some of the selling was over-reactive, and a potential mean reversion on some of these tokens is due. $SEI: With the next biggest L1 launch, Monad, due later this year, people may start positioning into “Monad Betas.” $SEI is one such token, as it is also a part of the parallelized EVM narrative and has sold off heavily recently. $FRIEND: Called at $1.30 in a recent video, Deutscher still thinks it has upside with CEX listings coming soon. More interested to add on major pullbacks.Hunting for a small cap coin that could explode 10x? We’ve unveiled a few last week alone.
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The post Toncoin (TON) and Jito (JTO) Lead Weekly Watchlist as Bitcoin Holds Critical Range appeared first on CaptainAltcoin.
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