Author
Simon Chandler
Author
Simon Chandler
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Here’s our roundup of the best crypto to buy today, as the cryptocurrency market as a whole consolidates at a cap of $3.99 trillion.
Ethereum has fallen by 2% in the past 24 hours, while Bitcoin is up by only 0.8%, yet some altcoins look ready to post big returns in the very near future.
These include XRP, Dogecoin and Pi Network, the latter of which is up by 2.5% today, after announcing some important upgrades.
We explain just where these tokens might be heading in the coming days and weeks, while you can also check out our best meme coins article for more analysis.
Best Crypto to Explore Today, 28 August
Ripple (XRP)
XRP is flat today at $3, which marks a 3% gain in a week but also a 3% loss in a month.
Despite a difficult few weeks, XRP boasts some very strong medium- and long-term momentum, having gained by 420% in the last 12 months.
It arguably has the strongest fundamentals of any altcoin right now, following the launch of Gemini’s XRP-linked Mastercard, and not to mention the explosion in XRP futures on CME Group’s trading platforms.
The coin’s chart reflects such bullishness, especially the pennant that has been forming since mid-July.
This would suggest that XRP is very close to a big breakout, a view which finds support in the fact that the coin’s indicators (MACD and RSI) have been in oversold position for more or less a month.
We could therefore see the XRP price jump to $4 by the end of October, while an end-of-year rally could drive it towards $10.
This is why it’s one of the best crypto to buy at the moment, and the longer term picture looks even better, given Ripple’s ongoing expansion as a business.
Pi Network (PI)
At $0.3521, Pi Network is up by 2.5% today, going some way to compensate for several weeks of negativity.
However, it still needs to go much further to truly recover, given that it remains down by 18.5% in a month and by a disconcerting 88% since reaching an ATH of $2.99 in February.
A skeptic may argue that such a loss is a sign that PI is suffering from a terminal decline, yet more bullish or optimistic types may argue that this gives the coin plenty of room to rebound strongly.
And its increase today follows news that Pi Network has launched a Linux version of its Node, widening its reach and accessibility.
This announcement also comes with news of its upcoming upgrade from version 19 to version 23, bringing various “new layers of functionality and control.”
The approach of this upgrade has helped the Pi Network price to begin a recovery, with its chart showing that the coin remains massively undervalued.
Indeed, its relative strength index (yellow) has been below more or less continuously since mid-May, meaning that a rebound is long overdue.
The same applies to PI’s MACD (orange, blue), which has also been in a negative position for way too long.
While some may contend that Pi Network doesn’t have a long-term future, recent upgrade efforts show its potential for a recovery over the medium- and long-term.
And if the market remains bullish enough, the Pi Network price could return to $0.60 by Q4, and close the year at around $2.5.
Dogecoin (DOGE)
Also one of the best crypto to consider today, DOGE has dipped very slightly in the past 24 hours, yet it remains up by 2% in a week.
As with PI, Dogecoin has actually underperformed in recent weeks, in that it has declined by 3% in the last 30 days.
However, the positive implication of this is that it remains undervalued and should rebound very soon.
This is apparent from a scan of its chart, which shows that it too is about to break out from a bullish pennant.
Similarly, its relative strength index (yellow) has been struggling for several weeks, but is about to rise above 50 again.
This has coincided with an increase in DOGE’s trading volume, which has risen from $1.6 billion to $2.2 billion in only a matter of days.
If the Federal Reserve cuts rates in mid-September, we could easily the Dogecoin price return to $0.35 or $0.40 in a matter of weeks.
An end-of-year bull market could even see it lift towards $1.
Bitcoin Hyper Gains Steam As $12.5 Million Raised: Next Big L2?
The alts above are some of the best crypto to invest in right now, but there are newer coins that also show potential, and may be worth diversifying into.
One of the most interesting is Bitcoin Hyper (HYPER), a layer-two network for Bitcoin that opened its presale a couple of months ago.
It has now raised just over $12.5 million, an impressive figure that shows how many investors are beginning to take the project very seriously.
As an L2, Bitcoin Hyper will offer BTC users faster transactions and lower fees, while also maintaining state-of-the-art security and privacy via the use of zero-knowledge rollups.
Its aim is to become a DeFi ecosystem in which traders can put the value of their Bitcoin holdings to work, something which currently isn’t really possible.
Users can deposit BTC with Bitcoin Hyper’s smart contract and receive a proportionate quantity of HYPER in return, which they can then stake or trade with as they see fit.
HYPER will have a max supply of 21 billion tokens, with investors able to buy it now by going to the Bitcoin Hyper website.
The coin is currently available at a price of $0.012815, although this will rise multiple times before the sale ends.
Visit the Official Website Here
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