3 Cryptocurrencies to Buy Before Exploding 50X

In June 2024, the crypto market experienced a significant correction, with leading digital assets such as Bitcoin dropping from $71,000 to $64,000. This decline influenced a broader downward trend in major cryptocurrencies, creating potential opportunities for investors to “buy the dip.”

The significant outflow of spot BTC ETFs reinforces the current sell-off in the market. Recent data from SpotOnChain, a leading on-chain data tracker, highlights a continued trend of net outflows from Bitcoin ETFs, signaling a cautious stance among investors amid volatile market conditions. On June 21, 2024, Bitcoin ETFs recorded a significant net outflow of US$106 million, contributing to a total weekly outflow of US$545 million.

The net outflows extend throughout the entire trading week, accentuating the bearish sentiment prevailing in cryptocurrency markets.

Read too: Crypto Prices Today, June 22: Bitcoin Remains Low at $64K, PEPE and AI Coins Soar

Cryptocurrencies to buy Dip-Fetch.ai (FET)

Search.ai (FET) is an innovative project that combines blockchain technology with artificial intelligence (AI) to create a decentralized digital economy. Its goal is to enable autonomous “agents” to perform tasks, optimize systems and facilitate efficient data exchange in a trustless environment.

Fetch.ai (FET) | Trading view

Connected to the growing field of artificial intelligence, Fetch.ai (FET) is poised for significant growth. Despite a recent market downturn that saw its price fall from $3.84 to $1.1 – a 68% drop – the currency’s trajectory within two parallel trendlines suggests the formation of a flag pattern High.

Recently, FET recovered from the lower trendline, rising 37% to reach $1.5, while its market capitalization increased to $1.287 billion.

A possible breakout of the pattern’s overall trendline will signal a change in market sentiment. If the pattern holds true, the FET price will lead to an extended rally to $40.

Read too: Could Japan’s banking crisis trigger another Bitcoin rally? Arthur Hayes thinks so

2) AAVE

Aave is a decentralized finance protocol that allows users to lend and borrow cryptocurrencies without going through a traditional financial intermediary. In mid-March, this altcoin entered a new correction and plummeted in price from $145.8 to $79, recording a 45% drop.

AAVE | Trading view

According to coinmarketcap data, AAVE the coin shows a market cap of $1,189, while the 24-hour trading volume is $85.8 million.

An analysis of the daily chart shows that this correction is part of a 27-month sideways trend governed by a symmetrical triangle pattern. Under the influence of this pattern, the AAVE Price it is about to extend sideways before making a decisive breakout.

Aave has solidified its position as a pioneer in the decentralized finance (DeFi) sector, holding over 60% market share in network lending. Earlier this week, Satoshi Clubs shared that more than $13 billion has been lent through network lending protocols, with Aave leading the charge.

Thus, a possible triangle breakout will signal a major trend reversal and chase the initial target of $660.

3) Notcoin (NOT)

Notcoin (NOT) is a token that initially gained traction through a viral Telegram game, effectively introducing web3 to many users through its “tap to win” mining mechanics. Along with the growth of Toncoin, the price of NOT showed an aggressive recovery at the end of May.

Notcoin (NO) | Trading view

However, with the recent market correction, the price of NOT fell from $0.029 to $0.0114, recording a 50% loss. Notcoin currently holds a market cap of $1.5 billion, consolidating its position as the 56th largest crypto asset.

The current downward trend in NO price is being guided by a descending trend line, maintaining a sell sentiment after rally. For buyers to take control, a break above this overhead resistance is essential.

A successful breakout will signal the continuation of the uptrend and encourage buyers to move above the $0.1 mark in the near term.

Main advantage

As Bitcoin continues its June correction trend, retail investors are feeling a sense of panic. However, it is important to note that Bitcoin is just 12% below its all-time high of $73,750. Historical patterns suggest that a 20-30% correction is common before an uptrend resumes. This scenario presents an opportunity for sideline buyers to “buy the dip” in cryptocurrencies, positioning themselves advantageously ahead of a potential major market reversal.

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