It was a quiet start to the week for global markets, with US markets shuttered for Memorial day, but cryptocurrencies were nonetheless in a good mood, with most major coins rising in wake of pro-crypto commentary from US Presidential candidate and former President Donald Trump last week, and traders hunting for the best crypto to buy now.
Further positive commentary from Trump comes following last week’s surprise approval of spot Ethereum ETFs from the SEC.
$BTC is back at 70k.$ETH close to 4k.
The halving is done.
Both ETFs approved.
Trump is now pro crypto.
Ross’ sentence could be reduced.
What a time to be in crypto!!! We just go up from here!
— Layah Heilpern (@LayahHeilpern) May 27, 2024
After reaching as high as $70,600 earlier in the day, Bitcoin (BTC) was last trading around $69,600, up 1.5%.
Ethereum (ETH), meanwhile, was last trading near $3,900 after nearly hitting $4,000 earlier in the session.
Traders will be watching for more information on the potential launch date of Ethereum ETFs in the US this week.
Focus will also be on Friday’s release of US Core PCE inflation figures.
Recent US macro data has eased fears about the Fed delaying rate cuts into 2025.
Friday’s data is forecast to show the Core PCE inflation rate dropping to 0.2% from 0.3% MoM.
That could further ease those fears, adding further tailwinds to the crypto market. Major coins could soon retest yearly highs.
And Ethereum represents a potentially very good value opportunity right now.
At current levels below $4,000, it remains around 25% down versus its 2021 record highs.
That’s despite Bitcoin back above its 2021 highs, and significant maturation of the market, which is epitomized by ETF approvals.
Regulatory uncertainty was probably a major factor holding ETH back, but last week’s ETF approval means all that should be cleared up.
An ETH catch-up trade to $5,000 could be on the cards, making it potentially the best crypto to buy now.
However, some traders might be hunting for smaller, lesser-known altcoins with a high beta that might outperform.
Here are some strong performers on Monday that could be the best crypto to buy now.
Best Crypto to Buy Now
Notcoin (NOT)
The recently launched crypto token of the viral Telegram-based play-to-earn game Notcoin (NOT) is pumping hard on Monday.
After rising 55% in the past 24 hours, as per CoinMarketCap, NOT is now in the top 100 cryptos.
NOT’s market cap was last around $850 million, at a price of around $0.008.
Missed Notcoin?
No, you didn't actually pic.twitter.com/GkmxezDZGZ— Notcoin Ø (@thenotcoin) May 25, 2024
Notcoin might not stay at a sub-$1 billion market cap for long.
It has the support of the TON Foundation (NOT is issued on the Ton blockchain). And it already has a huge user base.
In just its first week following the launch of the game in January, it attracted over 5 million players.
5 or 10x gains for NOT are very possible. That’s why it could be the best crypto to buy now.
Floki (FLOKI)
Shiba Inu-themed meme coin Floki is up 22% in the past 24 hours as per CoinMarketCap.
FLOKI’s latest pump will have the bulls salivating. The meme coin has broken back to the north of a short-term upward trend channel.
That means a near-term test of its earlier yearly highs above $0.00031 is on the cards.
With a market cap of currently $2.6 billion, FLOKI could yet 5x this bull market. That’s why it potentially ranks as the best crypto to buy now.
Dogwifhat (WIF)
Fellow Shiba Inu dog-inspired meme coin, this one sporting a hat, dogwifhat (WIF) is also pumping on Monday.
WIF rallied 13% in the past 24 hours, taking it back to the $3.30s.
The meme coin continues to rise within the confines of an upward trend channel.
A retest of May highs near $3.70 is soon likely. And should the market’s broader momentum continue, a near-term return to record highs at $4.86 is also likely.
Like Floki, WIF also has a small-ish market cap of $3.35 billion. That leaves plenty of room for 5x upside this bull market.
WIF is another candidate for best crypto to buy now.
Crypto Alternative to Consider – Mega Dice (DICE)
The above coins could easily post 5-10x gains this crypto bull market.
But some highly risk-tolerant investors looking for even greater upside potential should check out presale investing.
New crypto projects frequently sell their tokens at a discount to early investors as they raise funds for development.
If presale investors can identify good projects that end up gaining traction in the market, they can book huge gains.
One project that analysts at Cryptonews are a big fan of is Mega Dice Casino.
This already well-established crypto casino has launched a presale of its utility token, DICE, and has already raised $1.25 million.
DICE holders get big cashback benefits on their wagers and can generate passive income via DICE staking.
The crypto casino is also running a $750,000 airdrop to reward early presale investors
Our Season 2 AIRDROP is still ongoing! Don't miss your chance to grab a share of the $750,000 airdrop!
The $DICE presale has already reached $1.3M and is well on its way to the next target of $2M!
Remember, 1 $DICE = 0.075. Price will increase when we hit $2M
BUY… https://t.co/I9m6DVDKj2
— Mega Dice Casino (@megadice) May 24, 2024
Potential investors may want to move quickly, as the DICE price will rise when the $2 million milestone is hit.
$DICE presale has raised $1.2 Million
Current tier price: 0.075
Current presale target: $2M
We're implementing multiple tiered price increases, so make sure to secure your #DICE early!
Don't forget, you can now utilize your $DICE directly in our Web and Telegram… pic.twitter.com/hDBMJ9y5s7
— Mega Dice Casino (@megadice) May 27, 2024
Mega Dice is also running a referral scheme.
Check Out Mega Dice Casino’s Presale
The post Best Crypto to Buy Now May 27 – NOT, FLOKI, WIF appeared first on Cryptonews.
