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The crypto market has been buzzing since the U.S. Presidential election, with Bitcoin leading the charge. According to 10x Research, after a textbook breakout, Bitcoin retested its support and skyrocketed nearly $30,000, sparking excitement among investors eager to catch the next big rally.
#Bitcoin, #Altcoins, #Memecoins, Which Crypto is Next to Explode? Another Major Breakout Could Be Coming Soon!
1-14) The crypto market has accelerated significantly since the U.S. Presidential election, with many investors scrambling to catch the next big breakout after… pic.twitter.com/3b9AoWYFkM
— 10x Research (@10x_Research) November 18, 2024
Let’s understand which crypto will make you a millionaire in this year-end bull rally.
Bitcoin’s Rising Demand
Bitcoin’s price has soared to an all-time high of $93K, fueling market-wide gains and excitement around the Bitcoin price prediction for 2025. After a sluggish 2023, 2024 has delivered on its bullish expectations, with Bitcoin leading the charge. Over the past 11 months, eight have been positive for Bitcoin, with November standing out as BTC reached a new all-time high of $93K, currently holding above $90K
Altcoins have followed suit, many achieving significant gains and even new record highs. As 2024 winds down, anticipation grows for what the new year might bring, promising fresh opportunities and milestones for the crypto market.
Altcoin Sesaon Incoming?
A new trend is emerging as larger, well-established altcoins are joining the rally. These “legacy” altcoins, with market caps of $5 billion or more, are seeing sudden and dramatic price surges. This marks a shift from the smaller $20 million meme coins to more robust projects with stronger fundamentals.
Search interest for altcoins has spiked significantly, reaching levels not seen since November 2021, with a Google search score of 70. This shows a rising wave of retail interest, backed by increased spot trading volumes for altcoins. Even though Bitcoin searches have cooled, the altcoin space is heating up rapidly.
Memecoins on a Bull Run too!
Since late September, meme coins have taken over retail interest, hitting an all-time high in Google search trends. Their popularity surpassed earlier peaks, drawing massive attention and speculation from traders. But now, the focus is starting to shift.
Overall, the memecoin sector dominated 2024, skyrocketing with $93 billion in growth and outpacing established cryptocurrencies. The memecoin market swelled from $23.55 billion to an impressive $119 billion, with a massive $58.9 billion in trading volume, marking a staggering 397.88% surge in value. The massive surge of memecoins like Dogecoin, and PEPE is seen as a hot pick due to Trump’s victory.
Next Big Breakouts Ahead
Moreover, the sustainability of these rallies is still up for debate, but the market’s fast pace is leaving no time to slow down. Key altcoins are nearing critical levels, hinting at more potential breakouts. With growing interest in both meme coins and legacy altcoins, the crypto market could be gearing up for another major wave of growth.
As the market is in a bullish phase, it’s clear that both newer and older projects are catching the attention of investors. Whether it’s meme coins, legacy altcoins, or Bitcoin, the race to spot the next breakout opportunity is in full swing.
