With his genius for bankrupting businesses – including a casino – who would have thought that people would be seriously taking financial cues from President-elect Donald Trump? Yet here we are.
As cryptocurrencies dip slightly over the holidays and Trump takes advantage of the lower prices to boost his own portfolio, here are the top altcoins and meme coins you should be considering right now.
Ever since the US election, cryptocurrency has been on something of a drunken rampage, with Bitcoin going as high as $106,278.242 and Ethereum as high as $4,046.24. But now it’s sobering up, and we’re seeing some price corrections. Bitcoin is down 9.5% and the crypto market as a whole is down about 12%, as the Fear and Greed Index readjusts.
Extreme Greed Is Now Dropping To Neutral Levels
The Crypto Fear and Greed Index more or less measures whether crypto prices are driven by fear or greed. On a scale of 0-100, zero indicates extreme fear, and 100 indicates extreme greed.
Ever since Donald Trump won the US presidential election in November, the index has been in the high 90s, indicating plenty of greed. But what goes up must come down, and as of today, the index is sitting at 54. Even so, these are just the opportunities to look for.
Trump’s World Liberty Financial Treasury didn’t hesitate to take advantage of the crypto dip and bought $2.5M of Ethereum, bringing up its total Ethereum holdings to $50.5M. Obviously, few can match that level of investment, but even so, buying into the dip makes sense if you want to beef up your crypto portfolio before the market recovers again, as it almost inevitably will come the presidential inauguration.
Price Fluctuations Are Imminent – Hold Onto Your Portfolios!
Before then, however, brace for some rapids. December 27 is going to shake up the markets as crypto sees the biggest options expiry event ever, with over $19.8 billion in Bitcoin options expiring. As traders take the opportunity to adjust their positions and minimize losses, both Bitcoin and Ethereum are likely going to experience short-term price fluctuations, which may make you think twice about your investments.
In this generally bullish market, any price shakeups will hopefully just be temporary. But as a crypto-friendly US President is inaugurated in a few weeks, the market will most likely shoot up once again. So, it’s best not to rush into cashing out. It may be a good idea to wait and see how it plays out.
The Altcoins To Focus On
You may want to take your cue from President-elect Trump and jump on the lower crypto prices or diversify into the Altcoin boom happening right now. With low presale prices and attractive staking APYs, low-cap meme coins show the greatest short-term gains potential. Here are the top meme coins on our radar right now.
- Wall Street Pepe ($WEPE) is currently sitting on a token price of $0.0003653 (with the price about to go up today), and a staking APY of 38%. It just goes to show that the frogs can’t be stopped, and they’re getting wiser every day.
- Solaxy ($SOLX) is sitting pretty at $0.001576 per token (the price will increase tomorrow), and it’s offering a staking APY of 857%.
- Flockerz ($FLOCK) is another good token that’s taking off right now. One Flock is $0.006504, and it’s promising a staking APY of 364%.
- Best Wallet Token ($BEST) is the currency connected to Best Wallet, and has a current value of $0.023325, with the price going up in less than two days from now. Its staking APY currently sits at 8%.
- Meme Index ($MEMEX) follows Crypto All-Stars’ MemeVault example and describes itself as the “world’s first decentralized meme coin index.” It’s giving a token price of $0.0145702 and a staking APY of 5,636% (no, that’s not a typo.)
- CatSlap ($SLAP) is proving popular with degen investors thanks to its gamified approach. This is shown by its token price of $0.00336082 and staking APY of 40%.
- SpongeV2 ($SPONGE) replaces SpongeV1, with their website claiming a 32% increase in the token price, compared to V1. Each token is currently valued at $0.000008, and it brings a staking APY of 15%.
Price Fluctuations Are Not Always a Cause For Heartburn
Price decreases are a normal part of investing, and big decreases can be a cause for concern. But, what we’re seeing right now are just gradual changes as the market readjusts to a more reasonable price level. That said, it’s also a great time for you to grab some more crypto, before the price hopefully starts to rise again.
To finish, let us provide the usual disclaimers by saying that we can only make predictions, not guarantees. Always read various sources and do your independent research. Plus, never invest what you can’t afford to potentially lose.