- Altcoin dominance is rising, indicating potential opportunities in smaller-cap cryptos outside the top 10.
- SRSI hovering around the 20-level breakout point suggests bullish momentum for altcoins in the near future.
- Lesser-known tokens like Render, Injective, and LCX are showing notable price surges amidst the market volatility.
Amidst the volatile landscape of cryptocurrency, the spotlight is shifting towards altcoins, especially those outside the top 10. As per Jaydee,an analyst, the Altcoin Dominance index excluding the leading cryptocurrencies, there’s a growing buzz about potential opportunities in the smaller cap cryptos.
The market dynamics are intriguing, with a particular focus on the SRSI (Stochastic Relative Strength Index) hovering around the 20-level breakout point. This threshold has become a focal point for many altcoin holders, signaling potential bullish momentum in the near future.
According to the price data from CoinMarketCap, the market landscape appears stable, albeit with slight fluctuations. At the time of press, Bitcoin was trading at $66,3595 and Ethereum at $3,752.23. Bitcoin’s 24-hour trading volume stands at a staggering $62.7 billion, while Ethereum boasts $31.7 billion. Meanwhile, XRP is showing promise, with a price of $0.614607 and a 24-hour trading volume of $2.8 billion, up 1.89% over the last 24 hours.
Hedera Hashgraph (HBAR) is also making waves, with a price of $0.130278 and a notable surge of 12.36% in the last 24 hours. Dogecoin, the internet darling, has seen a slight dip, trading at $0.1518 with an 8.40% decrease over the same period. Shiba Inu, another popular token, currently trades at $0.000030, experiencing a substantial 17.21% decline in the last 24 hours.
Meanwhile, Fetch.ai (FET) is shining bright, with a price of $2.60 and an impressive surge of 38.71% in the last 24 hours. It is important to note that FET has recently hit an ATH surpassing all its highs. Solana (SOL) is also on the rise, trading at $136.69, up 5.52% over the last day. Chainlink (LINK) and Polkadot (DOT) are showing resilience, with prices of $19.70 and $10.31, respectively, and modest gains over the last 24 hours.
In the midst of this price action, lesser-known tokens like Render (RNDR), Injective (INJ), and LCX are making their presence felt. Render boasts a price of $9.58, surging by 33.61% in the last 24 hours. Injective follows suit, trading at $41.71 with a 3.18% increase over the same period, while LCX is valued at $0.267772, showing a 3.66% uptick.
