The crypto market remains incredibly bearish after the recent crash, with Bitcoin unable to break out of the $26K price range.
With the increasing threat of a global recession, along with the growing likelihood of another interest rate hike, investors are preparing for a further downtrend in the market.
However, several recently launched tokens still remain bullish and are showing promising prospects.
This article covers 6 cryptos that traders think could show bullish price growth this year and outperform the bearish market.
Wall Street Memes
The Wall Street Memes token is currently one of the hottest commodities in the meme coin market, with over $25 million worth of $WSM tokens already sold out in its ICO in just over 3 months.
The token’s stellar start is not a surprise, considering that the Wall Street Memes group is the trendiest online trading community with a global brand value and a million-strong internet army. Even Elon Musk is a fan of its Twitter account, which has become the internet’s go-to source for edgy and hilarious memes.
$WSM has strong ties to the legendary Wall Street Bets Reddit community that sparked the historic GameStop short-squeeze in 2021. In the same spirit, the token is now looking to revolutionise the meme coin market, seeking to reach the $1 billion market cap after launch.
$WSM’s stake-to-earn feature as well as its sound tokenomics will certainly push it towards this target.
The token is set to launch on multiple Tier-1 exchanges in just over a month, and could thus see a strong bull rally this year. It’s been one of the most hyped tokens among popular traders, with many backing it to pump upon its IEO.
Doge and Pepe The Frog-themed tokens have become old news in the meme coin market, with Sonic The Hedgehog-based tokens emerging as the new trend. Some tokens like the HarryPotterObamaSonic10Inu have even displayed 8000% rallies, thanks to the popularity of the Sonic franchise.
The new Sonik Coin is looking to dominate this growing trend and seeking to become the fastest meme token to hit the $100 Million market capitalization. After all, the beloved blue hedgehog is also known for his supersonic speed.
However, $SONIK is more than just another meme coin – it is offering retail investors an excellent opportunity to generate passive income through its stake-to-earn mechanism. Token holders can earn as much as 183% APY while also contributing towards price stability and network security.
The project has also prioritised offering a smooth trading experience for investors and has allocated 10% of the token supply to provide liquidity on decentralised exchanges.
The presale has a hard cap of just over $2 million, which is likely to be reached soon considering its already at the $400k mark.
The crypto market is extremely volatile and can often leave even experienced investors feeling overwhelmed. However, Launchpad XYZ is helping its users navigate the complexities of the market, offering a wide range of powerful products that cater to their every need.
For example, the Launchpad Quotient ranks a large number of crypto assets in accordance with their trust and confidence score, ensuring that traders do not miss out on the next Pepe or Floki.
Similarly, the Trading Edge platform helps users make informed market decisions with the help of sentiment analysis and the latest crypto news. Beginners can even get to know the trading setup of experienced traders.
Launchpad XYZ is seeking to be an all-in-one portal for all things Web3, offering its own Web3 wallet, decentralised exchange, an NFT marketplace, fractionalised assets and even its own LLM AI model.
Thanks to its high utility, the $LPX token has already raised close to $1.4 million in its ICO and will soon hit the $1.5 Million mark.
The wide price fluctuations in a turbulent crypto market can often be frustrating to crypto traders. However, the AI-fueled yPredict ecosystem lets its users get a competitive edge in this market through its powerful analytical tools and ML-based predictive trading.
Investors have been quick to recognise the growth potential of the project, leading to over $3.5 million worth of $YPRED tokens already sold out in its presale phase. All token holders will have lifetime access to the Market prediction platform, which comprises accurate price predictions of thousands of crypto assets and securities.
Traders can also take advantage of the yPredict Analytics platform to make smart choices, which utilises cutting-edge pattern recognition algorithm, sentiment analysis and transaction data analysis.
The yPredict Marketplace is the flagship product of the company – top AI/ML experts can publish highly-vetted data models, which can be used by investors to devise their own trading strategies.
Pro traders can also find enormous value by executing their trades through the super-fast Terminal trading engine.
Sui has emerged as one of the biggest winners in the crypto market, surging 10% over the past 24 hours, bringing its weekly cumulative gains to 8%. $SUI is priced at just $0.586, with experts believing that more upside is a strong possibility.
The token has seen a 60% surge in its 24-hour Trading Volume, with its total market cap pushing past the $420 million mark.
TradingView, a technical analysis platform, gives a Buy signal to the token in the 4-hour time frame, which improves to a Strong Buy when considering the most important moving average indicators.
The bulls would next hope to flip the 200 Exponential Moving Average at $0.595 and the 200 Simple Moving Average at $0.598.
Expert trader @CryptoTony_ reveals that the token is approaching the intraday resistance which can push it to the $0.66 price mark and result in a strong bullish continuation in the coming months.
The Astar network’s approaching Astar 2.0 launch has led to an explosive bull rally. The $ASTR token has appreciated 1.5% in the past hour itself, posting gains of 11% in the daily time frame and 22% in the weekly time frame.
Despite the extremely bearish stance of the crypto market that saw liquidations exceeding $1 billion, Astar is currently seeing a parabolic rise and has emerged as the top performer in the crypto market over the past day.
Its 24-hour Trading Volume shot up by 160% over the last 24 hours, resulting in its total market cap breaching the $300 million mark.
Investing.com gives a Strong Buy signal to the token in the daily time frame and is currently outperforming every important moving average indicator. Its Relative Strength Index has also flipped green, pointing to more bullish waves in the upcoming.