Press Release Bitcoin has dipped below the $27,500 mark, effectively neutralizing the gains previously sparked by U.S. inflation data.
This trend has been developing over the last month, ever since Bitcoin peaked above $30,600 in mid-April.
Given the ongoing bearish market trend, what are the best cryptos to buy now?
Data collated by Santiment suggests a decrease in social media discussions around top crypto assets, including Bitcoin, which saw an 18% drop.
It’s no surprise then that over the past month, Bitcoin’s price has fallen by 7.57%, and Ether’s by 3.95%, with similar decreases observed among other top-10 assets on CoinGecko.
This marks one of the most significant 30-day declines since June 2022, amid changing macroeconomic conditions and interest rate hikes by the US Federal Reserve.
When traders were surveyed by Santiment regarding whether they believed crypto markets had peaked in April, nearly 44% of respondents believed they had, indicating a lack of confidence in further price increases.
Despite the price drop, a bullish divergence has been noted in Bitcoin’s whale accumulation chart.
Bitcoin’s large wallet holders, often referred to as whales, have acquired 0.29% of the Bitcoin supply from April 10 to May 10.
This increase in holdings amidst falling prices suggests that these large-scale investors anticipate a rebound.
With the next halving nearly 50 weeks away and Bitcoin typically experiencing an uptick in price as the halving approaches, long-term investors may still anticipate a resurgence of the cryptocurrency in the coming months.
Despite the recent market slump, several cryptocurrencies may still be good potential investment prospects.
Considering their strong fundamentals and/or positive technical analysis, AI, PEPE, SPONGE, BGB, YPRED, ATOM, and DLANCE are some of the best cryptos to buy now.
AiDoge’s Strong Team and Unique Use Case Makes It One of the Best Cryptos to Buy NowThe cryptocurrency market is witnessing a new trend with the rise of AiDoge, a project that combines the virality of meme coins with the practical utility of artificial intelligence (AI).
AiDoge’s presale of its native $AI token has been gaining momentum, raising over $5.8 million so far in funding.
AiDoge is developing a unique social platform that leverages AI technology to generate memes.
Users can earn cryptocurrency rewards if their memes gain popularity.
The project’s presale is structured in stages, with the price of the $AI token gradually increasing. Aidoge’s platform has introduced a unique concept in the crypto market known as “meme-to-earn.”
This concept has gained popularity among the crypto investment community, leading to an investment of nearly $1 million per day this week.
The AiDoge platform will allow users to create, share, and vote on memes. The most popular memes earn their creators $AI tokens, providing a unique income stream for meme creators.
Unlike many meme coins that lack utility, $AI tokens serve as the native token within the AiDoge platform.
The platform’s AI technology will enable users to generate memes based on text prompts, making meme creation accessible to all.
The community can vote on their favorite memes, » …
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