As we move into October 2024, the crypto world is continuing with opportunities for those looking to make quick gains. With so many coins and tokens to choose from, it can be tricky to know where to invest for the best crypto to buy short term returns. In this article, we’ll break down some of the top cryptocurrencies to consider this month, using simple explanations of what makes them worth watching. Whether you’re experienced in crypto or just starting out, these picks could help you make smart choices for your investments and possibly see some big returns in a short time.
Why you Need to Invest now ?
It looks like an exciting alt season may be just around the corner in October 2024. Bitcoin dominance is starting to drop from key resistance levels, a sign that altcoins might be ready to pump. The recent 50 bps interest rate cut by the FED has pumped more optimism into the market, making it easier for investors to pour money into riskier assets like crypto.
On top of that, Binance CEO CZ is now out of jail, easing fears around one of the biggest exchanges. With the U.S. elections coming up, both Trump and Kamala Harris have shown support for crypto, adding more excitement.
Historically, October (often called “Uptober”) and November (“Moonvember”) have been great months for crypto, and all these factors are lining up for a potential altcoin boom this year.
5 Best Crypto to Buy in October :
Before seeing into the list of considering best crypto to buy in October 2024, it’s important to note that these tokens have been selected based on recent market trends, strong fundamentals, and the potential for significant short-term growth. Most of these tokens are related with the AI, RWA and MEME trend. We’ve also included the exchanges for best crypto to buy for you.
Phala Network (PHA) :
About the Project :
Phala Network connects artificial intelligence with blockchains, making it easier to use Web3 technology. It helps developers create secure AI agents that can automatically perform tasks on the blockchain.It makes blockchain operations safer and more efficient way for wider use of AI in decentralized applications, Through its toolkits, developers can build, launch, and monetize their AI agents. Phala Network is made to play a significant role in advancing the AI-Web3 ecosystem, bridging the gap between decentralized technology and AI-driven automation.
Market Cap Rank : 377
Market Cap : $98,225,287
Circulating supply : 753,473,738 PHA
Total Supply : 1,000,000,000 PHA
Available exchange : Binance
Comparing to other AI tokens, PHA has remained in a consolidation phase, showing limited upside movement; however, with this extended period of accumulation, a significant move may be on the horizon, presenting a potential opportunity for substantial gains soon.
LimeWire (LMWR) :
About the Project :
LimeWire, once known as a pioneer in music discovery during the early 2000s, has re-emerged as a leading AI-powered platform for content creators, artists, and musicians. The new LimeWire offers an advanced AI studio for creating images, music, and videos, while also serving as a social platform that empowers creators. LimeWire transforms AI-generated content into ownable and tradeable NFTs, enabling creators and fans to monetize their creations.
Market Cap Rank : 544
Market Cap : $53,736,693
Circulating supply : 298,482,486 LMWR
Total Supply : 633,045,269 LMWR
Available exchange : Kucoin
Referring to the chart, LMWR is currently positioned at a crucial support zone. Historically, when the token found support at this level, it experienced a significant rally, surging by nearly 900% (close to 10x). If history repeats itself, we could witness another substantial upward movement from this key support area.
TRUE Fi (TRU) :
About the Project :
TrueFi is a decentralized finance (DeFi) platform that offers modular infrastructure for on-chain credit, connecting lenders, borrowers, and portfolio managers through smart contracts governed by the TRU token. Launched in November 2020, TrueFi has originated over $1.7 billion in loans to a variety of borrowers, including leading crypto institutions and real-world companies such as fintech firms and trading funds, paying over $40 million in interest to participants.
Market Cap Rank : 338
Market Cap : $111,951,031
Circulating supply : 1,178,916,823 TRU
Total Supply : 1,263,325,829 TRU
Available exchange : Binance
Referring to the TRU chart, a clear double bottom pattern has formed on the monthly time frame, with the price currently in a retesting phase. If this trend continues, it appears likely that TRU will soon reach its double bottom target, signaling a potential bullish breakout.
Bitget Wallet Token (BWB) :
About the Project :
Bitget Wallet Token (BWB) is the foundational asset of the decentralized Bitget Wallet ecosystem, providing holders with a range of exclusive benefits. BWB tokens can be traded on both centralized and decentralized exchanges, In terms of utility, BWB is central to governance, community engagement, and future rewards distribution within the Bitget ecosystem, making it a valuable token for long-term participants and investors.
Market Cap Rank : 596
Market Cap : $43,722,720
Circulating supply : 142,920,247 BWB
Total Supply : 1,000,000,000 BWB
Available exchange : Bitget
Referring to the BWB chart, the RSI is currently at 29, indicating an oversold condition on the weekly time frame. With Bitget Wallet’s ecosystem developments progressing and no significant pump since its listing, it is likely that a substantial upward movement could occur sooner rather than later.
Book Of Meme (BOME) :
About the Project :
BOOK OF MEME (BOME) is a Solana-based project designed by the artist Darkfarms to preserve and celebrate internet meme culture in a decentralized, blockchain-powered format. At its core, BOOK OF MEME aims to create a digital compendium of memes, ensuring each piece is immortalized on decentralized storage solutions like Arweave, IPFS, and potentially Bitcoin inscriptions, allowing them to be owned, traded, and preserved indefinitely.
Market Cap Rank : 122
Market Cap : $509,062,627
Circulating supply : 68,961,761,877 BOME
Total Supply : 68,961,761,877 BOME
Available exchange : Binance
Referring to the BOME chart on the daily time frame, BOME is currently testing a crucial resistance zone around the $0.0079 mark. Historically, breakouts from such resistance levels have led to significant upward price movements. With BOME consolidating just below this zone, a successful breakout could potentially trigger a strong bullish rally. If momentum continues, we may see BOME aim for higher targets in the near term.
Conclusion :
In October 2024, the crypto market offers strong potential for short-term gains with several key tokens poised for growth. Stay informed, monitor the market closely, and make calculated decisions to capitalize on these opportunities. Keep following Kryptocouncil for more updates and insights.
