Crypto analyst Miles Deutscher has dubbed 2024 a “political bull run” and is heavily investing in various crypto altcoins. He advises long-term investors to focus on leading coins in each category and maintain a diversified portfolio.
His strategy involves trading top-performing coins during peak seasons and adjusting investments as market trends evolve.
Here’s a deep dive.
Coins to Watch
Meme Coins: High Risk, High Reward
Deutscher starts his analysis with the trendy meme coins. He identifies Pepe (PEPE) and WIF as potential leaders in this sector. Despite its high market cap, PEPE shows strong long-term growth potential. It has surged by 39% in just one week, reaching a market cap of $5.80 billion, and may soon surpass $6 billion. Predictions suggest PEPE could hit $0.0025 by the end of 2024.
WIF, with a lower market cap, presents significant upside potential, possibly up to 10x. Over the last six months, WIF has risen 1,600%, despite a 12% decline month-to-month. Analysts believe WIF prices could reach $5 to $10 in May.
AI Coin
Next on the list is AIOZ, which has a balanced approach, reasonable market cap, and an outstanding team. AIOZ introduces decentralized AI, deep Web3 storage, and streaming. Its market activity surged after being listed on Bithumb, South Korea’s largest exchange.
RWA Coins
Ondo stands out in the RWA coin category, with limited unlocks until January 2025, indicating potential upside. Other established players include Pendle and Mantra, with upcoming projects like Red Belly showing promise. Ondo recently reached its all-time high and maintained its gains, suggesting potential profit booking ahead.
L1 Solutions: Moving Beyond Ethereum
Despite a recent market dip and excitement over Ethereum’s ETF approval, Solana (SOL) has surged 24.91% in the past month, rising from $137.23 to $168.78 by May 29, 2024. Investors are curious if SOL will reach $200 in June. While Solana is a leader in its sector, Deutscher suggests also considering options like Fantom and other protocols around $8 billion for potentially higher gains. Despite Solana’s strong performance, other opportunities with slightly higher risks exist.
Gaming Coins
Echelon Prime (PRIME) rounds off Deutscher’s list, popular due to its link to AI and its lower current prices. The future price of PRIME is uncertain, with predictions ranging from significant increases to various other outcomes. While analysts are optimistic about its long-term prospects, this might not hold for the next three months.
Also Check Out : Altcoins at the Foothill of an Explosion: Here Are Tokens That Could be the Biggest ‘Buy’ Ahead of an AltSeason
The “bull run” might be here, but always invest responsibly and never chase fleeting trends.
