The market has been a bit sluggish and we are all looking for the next coin that will take off big. This is not helped along by the fact that anyone can create a new coin in a few minutes and have it set up and tradable on a reliable chain, and that a lot of such shit-coins are coming out at a prolific rate.
Many beginners in the crypto industry are lapping up these coins, reportedly due to FOMO (fear of missing out). The fear of missing out on the next big thing, that might go to the moon. I personally think it's not just the newcomers, but a lot of crypto enthusiasts, and it's not FOMO but GOMQBO. That is the Greed of Making a Quick Buck. The idea is you get in quick enough, make your profit, and exit. No matter the consequence to others, no matter the fundamentals of the coin -- just you matter. Sad. Having delivered that piece of rather entertaining appetiser, let's look at some coins for June 2024 that I think (and I can't emphasise that enough) might go 5x.
PEOPLE Coin
Have a look at the chart for last month of the people coin (credit to CoinGecko)
Chart shows a healthy growth and there seems to be a pullback happening. Either it will go higher and break through or if it goes down, likely to go to the resistance level of the rather obvious $0.0755. This is my take, not etched in stone by any stretch of the imagination.
TRUMP Coin
Let's jump right in and look at the chart for this one. I am, of course talking about the MAGA TRUMP coin which has shown quite the gain over the last month.
As you can see Maga Trump has grown over 4x over the last month. I am a trend trader and would have got in earlier, had I been watching this. Will Trump pump in money into this? I don't think so, but the outlook remains positive. With the election nominations coming up, what could possibly go wrong?
The third and final coin we are going to look at today is,
Minati Coin (MNTC)
When it first came out, I thought it was a scam. Looking at the chart (credit to Binance this time for their chart), the gain has been spectacular this month.
It's gone from $4 to about $20 over the last couple of weeks. The market cap is over a 100 million dollars, an amount of money that you couldn't shake a stick at and it's been traded heavily. Always do your own research and double check random posts on the web.
That's it for today. Those are my three picks of Altcoins to watch for.
Disclaimer: This article (by me, Rumjus) is for informational purposes only. It is based on my personal (and anecdotal) experience. None of the content is financial advice. Readers are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks with crypto currency (and any other) investments. I am not liable for any financial losses you incur. Cryptocurrency markets are highly volatile and the possibility of investments tanking is higher than traditional investment instruments. The cryptocurrency space is also riddled with scams and actors with nefarious intent, so the possibility of losing your money is very real.I am not liable for any loss you may suffer.
