Crypto investors are experiencing significant pains as major cryptocurrencies have turned deep red. The global crypto market cap has fallen a huge 8% over the past day, with Bitcoin trading at $26,400, having surpassed $30,000 just two months ago.
The concerns regarding stickier-than-expected inflation levels, delays in Bitcoin spot ETF approval and the SEC’s impending appeal against Ripple’s victory have all contributed to the current bearish outlook.
The Commitment of Traders report from the US CFTC has also highlighted a sharp increase in the bearish bets by hedge funds and commodity trading advisors against Bitcoin. A continued decline in Bitcoin’s value could have ripple effects on altcoins and major meme coins as well.
However, despite the current bear market, there are several high potential new cryptos that traders are continuing to back. This article covers the 5 best cryptocurrencies that can outperform the rest of the bearish market.
Wall Street Memes
The Wall Street Memes token has piqued the interest of all meme coin enthusiasts as it is already set to hit the $25 million mark in its presale in less than 3 months.
After all, the token has all the makings of being the next big thing in the meme coin market. It boasts a strong community backing, with its roots in the legendary WallStreetBets Reddit community that inspired the ground-breaking GameStop short-squeeze.
The Wall Street Memes group has since developed a global brand value and a million-strong internet army which will push the token towards its targeted $1 billion market capitalization.
Similar to Dogecoin, the Wall Street Memes token could also capitalise on the Elon Musk effect, as the world’s richest man has often interacted with its Twitter account and enjoys its edgy and on-point memes.
The developer team behind the token also has a proven track record of delivering successful Web3 projects – its Wall St Bulls NFT collection sold out in just 32 minutes, netting a cool $2.5 million in profits.
The project has also adopted community-centric tokenomics to boost user adoption, making 50% of the tokens available in the presale and another 30% reserved for community rewards.
Famous influencer Crypto Clinix believes that $WSM will show an explosive 100x surge after launch despite the bearish market conditions.
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Sonik Coin
The dog-themed tokens like Dogecoin and Shiba Inu have become old news, with tokens based on the popular video game character Sonic The Hedgehog becoming the new trend in the meme coin market.
After all, tokens like HarryPotterObamaSonic10Inu have displayed 8000% bull rallies, amassing over $180 million in market capitalization in mere months.
In a similar vein, the newly-launched Sonik Coin is targeting the $100 million market capitalization and is already off to a great start, having raised close to $100K in its presale in just two days.
50% of the entire 300 billion $SONIK supply is available during the presale itself, priced at a cheap $0.000014 per token. The presale has a hard cap of just over $2 million, which is expected to sell out extremely quickly.
Another 40% of the tokens have been reserved for $SONIK’s stake-to-earn mechanism, allowing token holders to earn up to a whopping 773% APY while incentivising long-term holding for price stability.
Finally, 10% of the tokens have been allocated to provide liquidity on decentralised exchanges, ensuring a smooth trading experience.
Sonic the Hedgehog is one of the most famous franchises of all time, enamouring several generations of audiences with video games, cartoons and movies. Its popularity will surely provide a major boost to the token, despite the prevailing bear market.
Launchpad XYZ
Launchpad XYZ ($LPX) is another project that is gaining significant traction in its presale phase, having already raised over $1.3 million. The platform offers a wide range of tools that can help both natives and newbies navigate the volatility of the crypto market.
For example, the Launchpad Quotient ranks a diverse set of crypto assets in accordance with their trust and confidence rating, making sure that investors do not miss out on the next Pepe or FLOKI.
The platform also offers a suite of powerful trading products, such as the TradingEdge platform that helps traders make real-time informed decisions with the help of sentiment analysis, the latest news and valuable market insights.
Simply put, Launchpad XYZ is a one-stop shop for all things Web3, offering services like its own decentralised exchange, a custom Web3 wallet, access to premium NFTs and presales, a play-to-earn gaming hub, etc.
Due to its high utility, the $LPX token could see a sustained price growth that can outperform the crypto market.
yPredict
The demand for AI-based crypto projects is on the rise, with yPredict being one such project that has caught the eyes of investors, thanks to its wide range of analytical tools and ML-based predictive trading.
The $YPRED token has already raised $3.4 million in its ICO, with two presale stages still remaining.
All token holders will have lifetime access to yPredict’s Market Predictions platform which comprises accurate price predictions for thousands of crypto assets and securities.
yPredict users can also gain an edge in the world of crypto trading through the Analytics platform, which offers 100+ chart pattern recognition, sentiment analysis and indicator analysis.
The yPredict Marketplace is the company’s flagship product, enabling AI/ML experts to publish their highly-vetted predictive data models. Crypto traders can subscribe to these models and leverage them for making well-informed market decisions.
Popular crypto YouTuber Jacob Bury believes that $YPRED will display 10x growth after launch, which can outshine the rest of the crypto bear market.
THORChain Displays Massive Bull Rally Despite Bearish Market Outlook, How Far Can It Go?
THORChain has emerged as one of the biggest winners in the crypto market, exploding by a staggering 45% over the past week and 65% in the last 14 days.
$RUNE is currently trading at $1.54 with a market capitalization of over $525 million, making it the 66th largest crypto asset by market cap.
According to market intelligence platform Messari, $RUNE is the only large cap DeFi asset that is still in the green over the past week. THORChain is one of the leading contenders in the DeFi race, known for enabling cross-platform settlement between different blockchains.
There are several indications that the token will see a bullish continuation despite the ongoing bear market. For example, THORChain’s upcoming DeFi lending launch will create a deflationary token supply, boosting $RUNE’s value.
Popular crypto analyst @TehLamboX is extremely bullish on the token, believing that the token can surge to $2 in the short-term and $16 in the long term.
