Investors seeking the most promising cryptocurrencies for investment may consider either option. However, those aiming for even greater and quicker returns may need to explore smaller and less recognized altcoins, which carry higher risk.
Here are a few standout performers from Wednesday that might represent top choices for investors seeking the best cryptocurrencies to buy at the moment.
Best Cryptocurrency Right Now
Dogwifhat (WIF)
Experiencing a 7.6% increase over the past 24 hours and defying the broader market downtrend, Dogwifhat (WIF) is emerging as a strong contender for the title of the best cryptocurrency to invest in today.
Dogwifhat's recent closing price hovered around $3.0, boasting a market capitalization of approximately $3 billion, according to data from CoinMarketCap.
Should it manage to surpass its 21-day and 50-day moving averages (DMAs), WIF has the potential for rapid growth.
Optimistic price targets include reaching the May highs at $3.70, followed by aiming for the upper boundary of its short-term upward trend channel.
Bittensor (TAO)
The innovative AI cryptocurrency Bittensor (TAO) is showing promising short-term momentum as it strives to surpass key moving averages.
Trading recently at $444, TAO boasts a market capitalization of $3 billion, according to CoinMarketCap data.
Currently, TAO is in the process of testing resistance at its 50-day moving average (DMA). A successful breakthrough at this level could potentially pave the way for a resurgence toward yearly highs exceeding $750.
Dogecoin (DOGE)
While Dogecoin (DOGE) may not be demonstrating notable strength in performance on Wednesday, it has been forming an ascending triangle pattern in recent weeks, indicating potential for a bullish breakout.
If DOGE manages to surpass the resistance level at $0.17, it could signal a rapid retest of yearly highs around $0.23.
Given the possibility of achieving a quick 40% gain, Dogecoin presents itself as a strong candidate for being the best cryptocurrency to purchase at this time.
May 2024, Cryptoniteuae