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3 Must-buy Altcoins, Including The Famous Dogecoin

Mar 27, 2024
6 min read
Table of Contents
  • 1. Altseason Opportunities Emerge
  • 2. 1. Dogecoin - Pure Crypto Heritage
  • 3. 2. Litecoin - Best Crypto Infrastructure
  • 4. 3. Ethereum Classic - Overlooked Crypto Innovation
  • 5. Concluding Insights

The Famous Dogecoin

 

Beyond flagship cryptos Bitcoin and Ethereum, wise traders search for emerging altcoins exhibiting unique value propositions and early traction. 

As the bear market persists, opportunistic investors have begun positioning in discounted assets poised to outperform when recovery accelerates. 

 

Altseason Opportunities Emerge

History demonstrates that the crypto market follows predictable cycles of booms and busts, led by the swings in Bitcoin’s price and the corresponding shifts in demand for altcoins as risk appetites change.

In bull run ascent phases, Bitcoin typically breaks out first following reward-halving milestones that constrict new supply issuance by 50% - spurring rapid price recalibration higher. 

After BTC peaks, profits rotate into riskier altcoin assets, driving parabolic vertical trajectories that yield exponential gains dwarfing Bitcoin’s own advances.

The “alt season” phenomenon sees obscure tokens briefly trading like blue-chip equities during viral manias. Of course, most altcoins that spring up during wild rallies later revert to crashing by 95% or more.

But the chaos also propels overlooked gems, catching investment tailwinds, benefiting from bullish sentiment, inflation panic, and positive adoption news that drives fundamentals higher. 

Traders identify these productive innovators early while valuations remain attractive - well before market optimism lifts all ships higher somewhat indiscriminately.

With Bitcoin now eying a durable 2024 bottom and recovery uptrend, the clock ticks awaiting altcoin ignitions. Previous transitions saw altcoins averaging 200-1000% gains just months after Bitcoin confirmed uptrends. 

So seasoned traders prepare by accumulating emerging blockchain leaders primed to grab attention when capital rotates, seeking upside after the crypto bearish season. 

 

 

1. Dogecoin - Pure Crypto Heritage

As an early titan among crypto assets, Dogecoin retains outsized influence and recognition for being an accessible, welcoming blockchain community guiding beginner users into cryptocurrency through memes and tips.

Initially formed in 2013 as a lighthearted fork of Litecoin, Dogecoin found its niche as a fun vehicle teaching crypto utility. This appeal attracted high-profile billionaire backers like Elon Musk, Mark Cuban, and Snoop Dogg, who have endorsed DOGE across social media and business payments over time. 

The resulting awareness saw traders pushing Dogecoin into a stratospheric $90 billion market capitalization during 2021’s mania.
 

The Famous Dogecoin

 

But beyond fleeting hype, recently upgraded Dogecoin development activity and surging usage metrics confirm durable staying power rather than faddish abandonment during the ensuing bear market. 

Relative on-chain activity and transfers now exceed all crypto assets besides the two giants, Bitcoin and Ethereum.

Furthermore, the dedicated DOGE community continues expanding peer-to-peer payment adoption, philanthropic projects, and merchant gateway acceptance even after speculators depart. 

This degree of organic support remains unmatched across blockchain projects on the fundamental side, signifying continued user growth towards becoming a leading digital currency supporting mainstream objectives when the next bull market emerges.

Consider reading this as well: Dogecoin vs. Bitcoin - Comparing Cryptocurrency Giants

 

2. Litecoin - Best Crypto Infrastructure

As a fork of Bitcoin launched in 2011, sharing similarities around limited supply and mining economics, Litecoin stands out for building critical bridges enabling accurate Web3 payments integration due to speed, cost, and liquidity advantages relative to first-gen cryptos.

Settlement times are around 2 minutes versus Bitcoin’s hour, and fees are under $.01, Litecoin presents a long-standing crypto infrastructure solution ready for scaling merchant payment flows today versus solely speculative trading.

This value now sees growing adoption, with almost 15,000 merchants globally accepting LTC directly for purchases from hotels to retailers to gaming platforms. Payment transaction volumes on Litecoin’s network exceed $500 million, marking steady upticks.

Beyond payment utility, Litecoin’s liquid market presence across centralized and decentralized exchanges ensures convertibility, allowing frictionless on/off ramps into fiat currencies - important for sustaining purchase power.

With LTC still trading at a deep 75% discount from 2017 highs around $375, the durability and usability of Litecoin’s de facto crypto payment network present tremendous value buying opportunities during the capitulation phase—well before another wave of user adoption rediscovers one of the most mature point-of-sale cryptocurrencies on the verge of breaking out.

For further information, read this article: Investing in Bitcoin vs Altcoins - What’s the Difference?

 

3. Ethereum Classic - Overlooked Crypto Innovation

 

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While often overshadowed by Ethereum with its complex blockchain upgrades, Ethereum Classic (the original Ethereum chain) retains significant merit stemming from its focus on stability rather than chasing complexity at the expense of risk.

Its vision values maintaining long-term decentralization purity through gradual enhancements approved carefully by its community of distributed nodes. This conservative pace, aimed at optimizing security, previously attracted scepticism, earning the “Slow and Steady” network nickname.

However, as blockchain innovations become more integral beyond crypto speculation, prioritizing stability and audibility has renewed appreciation among enterprises, institutions, and retail traders. All seek lasting infrastructure and temper risks during uncertain times.

This durable focus recently translated to 51% gains for Ethereum Classic’s token ETC in January 2023 alone as investors re-evaluated its merits and value perceptions. Yet prices remain a fraction of those of its richer counterpart, Ethereum, due to the mass market overlooking ETC’s roadmap.

With milestones underway connected to low-fee DeFi functionality, the cross-chain asset moves through bridges and community support programs nurturing its alignment with decentralization priorities, Ethereum Classic rides a growing wave among those valuing immutable continuity. 

As crypto advances to its subsequent evolution, durable infrastructure carries its rewards.

For more on this topic, check out: Ethereum Classic (ETC) - The Original Ethereum?

 

Concluding Insights

As the cryptocurrency market prepares for the next bull run, traders are wise to look beyond just Bitcoin and Ethereum and explore the potential of emerging altcoins. 

Dogecoin, with its strong community support and growing adoption for payments; Litecoin, with its established infrastructure and low-cost transactions; and Ethereum Classic, with its focus on stability and decentralization, all present compelling opportunities at current discounted prices. 

Through thorough research and identifying projects with solid fundamentals and real-world utility, traders can greatly benefit when market sentiment shifts and capital flows back into the altcoin space. 

As always with cryptocurrency investing, it’s crucial to understand the risks and never invest more than you can afford to lose. 

But, for those willing to learn about these innovative alternative cryptocurrencies, the potential rewards could be substantial in the coming months and years.

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“When considering “CFDs” for trading and price predictions, remember that trading CFDs involves a significant risk and could result in capital loss. Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be considered investment advice.” 


Risk Warning and Disclaimer: This article represents only the author’s views and is for reference only. It does not constitute investment advice or financial guidance, nor does it represent the stance of the Markets.com platform. Trading Contracts for Difference (CFDs) involves high leverage and significant risks. Before making any trading decisions, we recommend consulting a professional financial advisor to assess your financial situation and risk tolerance. Any trading decisions based on this article are at your own risk.

Arianne Bonacua
Written by
Arianne Bonacua
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Table of Contents
  • 1. Altseason Opportunities Emerge
  • 2. 1. Dogecoin - Pure Crypto Heritage
  • 3. 2. Litecoin - Best Crypto Infrastructure
  • 4. 3. Ethereum Classic - Overlooked Crypto Innovation
  • 5. Concluding Insights

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