In the past few days, there have been a lot of positive predictions about Bitcoin aiming for $100,000 or even beyond before 2024 ends. These market predictions were made after Bitcoin set a new record of breaking above $89,000 in light of Donald Trump winning U.S. Presidential elections.
This new record prompted asset managers like Bernstein to urge crypto investors to consider adding Bitcoin to their portfolio. Similarly, Bitwise Chief Investment Officer, Matt Hougan, stated that despite new investors looking to join the surge, long-term Bitcoin holders have not yet sold below $100K. According to Polymarket’s 2024 performance market, which is based on Kalshi’s odds, there is a 61% possibility that Bitcoin will reach $100,000 by the end of the year.
All this indicates a bull run for the Bitcoin, and as a trader, or investor, it is important to benefit from these uptrend indicators. Similarly, crypto lovers in Nigeria are looking for the window of opportunity to invest in altcoins even if they might have missed the bus to Bitcoin.
Amidst this surge of excitement, a few cryptocurrencies are in a position to see substantial development before the year is over. Trump’s victory raises the possibility of a historic cryptocurrency bull run. Here are five altcoins to keep an eye on for crypto lovers in Nigeria.
Top 5 Altcoins to Invest in the Current Bull Run
1. Solana (SOL)
In the last 24 hours, the demand for The AI Prophecy (ACT) and Peanut Squirrels PNUT has propelled both memecoins skyrocketing to a combined market valuation of $1 billion after hours of trading on Binance. This happened on Monday when Binance announced the listing of these two newly launched Solana memecoins.Â
As traders enter the market to purchase these two listings, they need to acquire the native SOL coin to pay for transactions.
Mert Mumtaz, CEO of Helius, a Solana infrastructure provider, has revealed plans to increase the network’s transactions per second (TPS) as SOL, the native cryptocurrency of Solana, gets closer to its all-time high of $260.06. According to Mumtaz, a planned upgrade might improve the network’s TPS by 1,000 times.
2. Dogecoin (DOGE)
After U.S. President-elect Donald Trump announced on Tuesday that Elon Musk and former Republican presidential candidate Vivek Ramaswamy will head the newly established Department of Government Efficiency (DOGE), Dogecoin jumped more than 10% to $0.3869 in early Asian trading hours on Wednesday.
As of the time of writing, DOGE coin is trading at $0.3584 with 75.96% over the last 7 days. Similarly, DOGE’s market capitalization is above $41.2 billion, making it the sixth-largest cryptocurrency by market value, exceeding both $36.9 billion and XRP’s $32.7 billion.
Supported by Trump and Elon Musk, DOGE is a coin to look out which might give you a 1000x or more.
3. XRP
The price of XRP has increased somewhat in tandem with the cryptocurrency market, rising 8.16% in the last 24 hours and currently trading at $06517 with a market cap of $36K,Â
High trading activity, which has increased over the past day, goes hand in hand with XRP’s price increases. Also, activity of XRP has been triggered with the new filling amid speculations of Gary Gensler’s departure and regulatory shifts.
One major technical event that could lead to large gains is XRP’s breakthrough from a four-year slump. With XRP’s bullish structure developing and Bitcoin’s strength acting as a tailwind, a move toward $1 seems doable in the upcoming weeks or months.
4. Polkadot (DOT)
According to a tweet on X, Polkadot has been showing signs of bullish signals. According to the tweet and the chart analysis, DOT has successfully exited its falling wedge pattern, indicating the possibility of a bullish pattern.
Because a breakout from a falling wedge sometimes indicates that the succeeding rally can exceed the height of the entire chart pattern at least twice, traders and investors are keeping a careful eye on this formation. As of the time of writing, Polkadot is trading at $5.07 and in the last 7 days, DOT has witnessed 24.91% in its trading volume.
Polkadot’s plan to link popular blockchains like Ethereum and Bitcoin is causing a stir in the cryptocurrency community. Polkadot wants to build a world in which several blockchains can coexist peacefully. Polkadot’s usage of para-chains, which enable speedier transactions than conventional networks, is one of its most notable features.
5. SUI (SUI)
Recently, the Binance listing of CETUS is sending a SUI-based DEX token to reel in double gains.Â
With the price of CETUS more than doubling from $0.163 on Monday to an incredible top of $0.341 on Tuesday, the market responded swiftly and dramatically. The token’s market value is approximately $187 million, and it has presently steadied at $0.32.
Similarly, Warped games, on November 12, announced their official partnership with Mysten Labs to build on Sui. These developments and more to come are poised to increase the price of Sui and it makes this token a lookout for.
Price Analysis Comparison with Nigerian Naira
| Cryptocurrency | Current Price (USD) | Price (NGN) | Notes |
| Solana (SOL) | $260.06 (all-time high) | ₦452,634.34 | Recently boosted by demand for new memecoins |
| Dogecoin (DOGE) | $0.3584 | ₦622.30 | Recently witnessed an uptrend due to support from Trump and Musk |
| XRP | $0.6517 | ₦1,133.71 | Bullish movement with increased trading activity. |
| Polkadot (DOT) | $5.07 | ₦8,818.73 | Showing a bullish trend after exiting a falling wedge pattern. |
| SUI (SUI) | $0.32 | ₦556.48 | Showing positive movement with recent partnership announcements |
Conclusion
Trade analysts and crypto enthusiasts are enthusiastic about the current bull run with some even projecting astronomical figures for Bitcoin to reach in the next two months. The fate of top altcoins is also set to emerge within the coming few weeks as interest around them surges.
Also Read: Bitcoin Reaches $89,000: Is it too late to Buy BTC now?
