The Bitcoin price is now on the cusp of hitting $64,000 while Ethereum has already surpassed $3400. Both cryptocurrencies are up nearly 6% today to start the week.
While some experts believe that Bitcoin could hit $70,000 by the end of July, it is the altcoins that are in the focus.
Michael van de Poppe of MN Trading believes that the altcoin market correction hit a local bottom nearly two weeks ago and is poised for a bullish reversal. He claims that the second half of the year will likely be “up only” which could see the Ethereum price hit the $6,000 – $8,000 range.
He also expects a 5x to 10x bull rally in undervalued altcoins.
5 Undervalued Altcoins To Buy Now
The Bitcoin price recently hit $54,000, owing to the sell-offs from Genesis and the German government. At this price point, it was nearly 27% below its all-time high.
However, several altcoins are significantly lower than their respective highs, providing an excellent opportunity to buy the dip.
We list the 5 undervalued altcoins – including new crypto coins – that could deliver outsized returns in the upcoming bull market.
XRP (XRP)
XRP has mostly been sidelined from this year’s Q1 crypto bull rally. In fact, it is down nearly 25% from over the past year and 86% from its all-time high.
However, it is extremely unlikely that one of the most popular and 7th largest cryptocurrencies on the market will not reach its all-time high this bull cycle. Consequently, experts believe that the XRP price breaking out isn’t a matter of it but when.
XRP is also expected to be one of the assets to benefit the most from a Trump presidency. Judge Analisa Torres has already ruled that XRP is not a security and that Ripple’s programmatic sales did not violate the Securities Act.
While the SEC could technically appeal Torres’ ruling, its likelihood decreases significantly under Donald Trump’s pro-crypto presidency.
With Trump’s chances taking a turn for the better after his failed assassination attempt, XRP could emerge as one of the top-performing cryptocurrencies in the coming months.
Dogecoin (DOGE)
Meme coins have been the most in-demand assets during this bull cycle. However, the market leader Dogecoin is down 83% from its all-time high.
Experts believe that this could change in the second leg of the crypto bull market. In fact, analysts remain confident that the Dogecoin price will reach $1 this bull cycle.
If this Doge price prediction pans out, this could mean over 8x returns for investors buying the meme coin today.
Dogecoin is another undervalued altcoin that could benefit tremendously from a Trump presidency. The world’s richest man Elon Musk has now endorsed Donald Trump after his assassination attempt. Reports earlier this year also revealed that the two discussed the possibility of Musk having an advisory role in Trump’s administration.
Considering that Dogecoin is Musk’s favourite crypto, expect it to break out as Trump becomes increasingly favoured to win his White House bid.
PlayDoge (PLAY)
Meme coins tend to move as a group and often show strong correlations with each other. For instance, a Dogecoin bull rally is expected to provide a major boost to other doge-themed tokens.
Consequently, experts are bullish on PlayDoge, a GameFi meme token that has already raised over $5.6 million in its ongoing presale. They claim this strong early demand is only the start and that the new meme coin can potentially deliver up to 100x returns due to its low market capitalization.
The demand for GameFi tokens is extremely high, especially after the success of Notcoin and Hamster Kombat. PlayDoge has captured this demand with its Tamagotchi-styled play-to-earn game.
Players get to pet the iconic Doge character as their own pet. They need to play with, train and feed their pet or watch it die or run to another house. Additionally, they can complete a series of 2D games – similar to 8-bit side-scrollers – and win free crypto.
In order to capture the maximum retail investment, PlayDoge has also launched multi-chain staking and is offering lucrative yields on the BNB Smart Chain and Ethereum. Investors can start accruing rewards from the presale itself.
Pepe (PEPE)
Pepe has rallied by more than 500% over the past year. And yet, it comfortably makes our list of the best-undervalued altcoins to buy.
For one, the frog-themed meme coin is nearly 40% below its all-time high, despite rallying by more than 20% today itself.
Secondly, PEPE is likely the best ETH beta play on the market and often acts as a leveraged Ethereum.
With the spot ETH ETFs to start trading this week, it would not be a surprise if PEPE hits a new all-time high this month.
Several experts believe that the Pepe coin could flip Shiba Inu during this bull cycle and could still deliver up to 20x returns this cycle.
Pepe Unchained (PEPU)
As previously mentioned, meme coin investing is all about finding correlations. A Pepe bull rally is expected to provide a significant boost to other frog-themed meme coins.
In such a scenario, experts believe that Pepe Unchained could be the best alternative to PEPE on the market which could offer 10x to 100x returns.
The project recognizes that despite the popularity of new Ethereum meme coins, they see low retail investment due to high blockchain fees. Pepe Unchain has tackled this issue by launching its own Layer-2 chain, a rare move in the meme coin space that is already yielding results.
Indeed, Pepe Unchained is currently offering an APY of over 500%, much higher than the industry standard.
Unsurprisingly, PEPU has already raised over $3.5 million in its ICO in a few short weeks.
