• 17 July, 2024
News

Altcoin Review: ARB and SUI Show Promise, While Dogecoin and XRP Struggle

In the ever-changing world of cryptocurrency, altcoins are always in flux, with some showing more potential than others. AltcoinSherpa, a crypto analyst on YouTube, recently reviewed several altcoins in circulation and analyzed their potential, concluding that the altcoins like ARB and SUI are promising. 

According to AltcoinSherpa, Dogecoin, and XRP are struggling, while ARB and SUI are propitious. Dogecoin, the popular meme-inspired cryptocurrency, was described as having low volatility but being in an overall long range. AltcoinSherpa suggested that Dogecoin might tap its low of around six and a half cents again. However, he concluded that it is not a great buy currently and would only trade it if scalping.

AltcoinSherpa also talked about XRP, describing it as “just chilling around”. He added that “it looks like it’s still just in this overall kind of trading range, and this trading range has been here for really almost an entire year.” Although all the EMAs on the weekly are lining up, AltcoinSherpa stated that he’s not looking to trade XRP.

On the other hand, ARB was noted as a cryptocurrency with great potential, as it has been quickly listed on Binance. AltcoinSherpa stated that there’s not much to say about it, but he believes it would pump hard in the future. With a small float relative to the overall supply, it’s easy for market makers to manipulate, making it a potentially profitable investment.

SUI, another promising cryptocurrency, was described as having a lot of activity and a solid trading volume. AltcoinSherpa suggested that SUI could be a good investment for those looking to hold for the mid-term.

Overall, the review highlighted the importance of looking beyond the hype and analyzing the potential of each altcoin based on its unique characteristics. While Dogecoin and XRP might not be strong buys currently, ARB and SUI show promise for investors looking to make a profit in the altcoin market.

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