3 Cryptocurrencies That Will Outperform Bitcoin This Week
Bitcoin, the pioneer cryptocurrency, has been trading sideways for the past seven months, struggling to maintain a directional uptrend. While the ‘Uptober’ has boosted the BTC price for the next breakout attempt from $70,000, these three cryptocurrencies are gathering even more momentum with technical breakouts, increasing whale activity.
3 Cryptocurrencies Set to Surpass Bitcoin’s Gains This Week
Since last weekend, the most major cryptocurrencies have witnessed a notable recovery following the Bitcoin price reversal from $58,800 to $68,400. This upswing kickstarts the market sentiment surrounding the ‘Uptober’ rally. Here are three top crypto that are expected to outshine BTC this week.
Solana (SOL)
The SOL coin tops our list of cryptocurrencies due to its high transaction speed, scalability, and low transaction costs. By press time, the Solana price prediction had traded at $154, with a market cap of $72.06 billion.
Despite a seven-month consolidation, the Solana price is poised for major recovery amid the on-chain recovery and Grayscale’s filing for multi-crypto ETF, including SOL. According to TheBlock data, Solana’s number of active addresses has surged from 3.06 Million to 4.82 Million— a 57% increase— within two weeks.
This rise in active addresses indicates growing engagement and adoption within the Solana ecosystem, boosting demand pressure for its native cryptocurrency.
Dogecoin (DOGE)
Meme cryptocurrencies have been among the fastest movers in the crypto market due to their volatile nature and speculative trading. DOGE, the largest memecoin by market cap, accentuates the above theory with an 8-day rally, which uplifted its price from $0.105 to $0.14 within a fortnight.
This 33% increase has provided Dogecoin price prediction with a decisive breakout from a 4-month consolidation, signaling the potential for a higher rally.
According to Santiment data, DOGE whale wallets holding between 10 million and 100 million DOGE have significantly increased their holdings, rising from 14.59 billion to 18.68 billion coins since August 2023. The large holder’s accumulation often coincides with a major market reversal and provides a renewed recovery.
Supply Distribution | Santiment
Sui (SUI)
The SUI coin emerges among the top-performing cryptocurrencies of 2024. From August to mid-October, the coin price rallied from $0.46 to $2.11, accounting for 412% growth, while the market cap surged to $5.78 Billion.
Mirroring the price recovery, the SUI’s total volume locked (TVL) witnessed a remarkable surge that recently surpassed the $1 Billion milestone. Theoretically, this rise indicates investors’ confidence as they add more capital to SUI’s Decentralized Finance (DeFi) protocol.
The SUI price sustainability above $2 hints the buyers could prolong the current recovery in the coming week.
Conclusion:
While Bitcoin’s recovery remains steady, Solana (SOL), Dogecoin (DOGE), and Sui (SUI) are showing greater potential for gains this week with a potential breakout, TVL surge, and on-chain recovery.
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