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Top 10 Altcoins To Watch in May 2024

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The altcoin segment has banked ~$1 trillion in Market Cap. It houses a trading volume of over $71 billion at the time of articulating this piece. There are almost 37,623 altcoins in the market, making it difficult to choose the one that best fits current conditions. Therefore, a short list of top 10 altcoins has been crafted to offer better exposure to the crypto market. Needless to say, one must still conduct research before fund allocation.

MAGA VP

The newly launched token is backed by the Market Cap of around $6 million. It remains one of the top choices in the altcoin segment because of the 98% surge in the token value in the last 30 days. Also known as MVP, the token is currently trading at $0.1137, with the possibility of testing the resistance at $0.38 by the end of this month and forecasted to touch $4 level by the US elections. The community takes inspiration from the tokenomics drawn by MAGA VP. It has assigned 1% of the Buy/Sell tax for TRUMP token rewards, 0.25% added to MVP LP and burn and 0.25% is allocated to the MAGA TRUMP LP to bolster liquidity for MAGA TRUMP transactions.

DOGE

The dog-themed meme coin has been down by 3.63% in the last 24 hours and is trading at $0.1261. It sports a Market Cap of ~$18.18 billion. Dogecoin ranks 8th on the crypto list and first on the meme coin list in terms of Market Cap. It aims to surpass the $0.9 milestone by the end of this year.

ADA

Cardano has experienced a surge of ~1% in the last 24 hours after the FED interest rate announcement. What makes ADA one of the top candidates in altcoins is the potential to carry forward the trend of green trade. The ecosystem is currently looking forward to launching Cardano Chang Upgrade in the second quarter of 2024.

ETH

The list would indeed be incomplete without mentioning Ether, a token that holds almost 33.5% of the market share in the altcoin segment. Conversations around Ether ETF may have taken a back seat, but that has not stopped Ethereum from testing the resistance at $3,100. It is likely to achieve the $5k mark by the end of 2024.

SOL

Solana Spot ETF has made it to several headlines since SOLWealth pitched the idea of launching the product in North America. That has placed SOL in a better position, set to accelerate its price rise from $130 to $280 by the end of this year.

BNB

Binance Coin has seen one of the best jumpers in token value during 2024. It is up by 68.7%, trading at $547.7. It is likely to make it to $850 by the end of this year. 

SHIB

The Shiba Inu community aims to dethrone DOGE in terms of market cap. There is a difference of ~$6 billion, with the community believing it should be bridged in the next 2-3 years. SHIB is currently listed at $0.0000218.

AVAX

Avalanche rarely makes it to the headlines. The last that was heard was about the Stripe integration. That has set the stage for a broader reach. Thereby helping the current token value of $32.68 to gain a better upward trajectory.

TRX

Currently, at $0.1226, Tron’s native crypto is likely to sustain the margin for the next 30 days. While this does signal a hesitation in investing, it also hints at the potential to hold on to the risk level and uncertainty.

DOT

The Runtime Upgrade by Polkadot caused a halt on the network for nearly an hour. The mainnet launch, however, has done little to harm the token value as it is still experiencing a green trade at $6.89, up by 6.22% in the last 24 hours. That showcases the confidence of the community and traders in the ecosystem.

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