Cardano And Solana Prices Soar 100%, What Are The Best Altcoins To Buy During Alt Season

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Since the beginning of Q4 2023, Cardano and Solana have experienced euphoric pumps, climbing 120% and 227%, respectively. Currently, Cardano is trading at $0.5585, up from $0.248, and Solana is trading at $70.47, up from $21.39.

Yet, a well-known rhetoric in crypto is that liquidity cycles down, causing the big-cap alts to pump first, followed by smaller caps. At this point, we could see a true alt season with smaller altcoins pumping much more with less liquidity.

Top Altcoins Rally as Bitcoin Dominance Finds Resistance

Cardano and Solana led the altcoin market to outpace Bitcoin through November. While Bitcoin still increased, some explosive altcoins have seen significantly more bullish price action, causing Bitcoin dominance to find resistance.

Bitcoin dominance is the measure of Bitcoin’s market cap against the entire crypto industry’s market cap, and altcoins often see the most significant gains when Bitcoin dominance is flat or falling.

In the last week of October, Bitcoin dominance briefly climbed above its 2018 support level but dropped below and has consolidated since.

Esteemed analyst Michael van de Poppe noted this critical level for Bitcoin dominance, labeling it a “short-term top” and suggesting that “3-8 months before the #Bitcoin halving is the best time to invest into #Altcoins.”

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The Bitcoin dominance slowdown occurred as top altcoins broke macro resistance levels, leading to monumental ascents.

Trader Captain Faibik pointed out that Cardano was breaking out of a bull flag on the weekly time frame at the end of October. The analyst targeted a move to $1 following the breakout. ADA’s price was $0.28 at the time, so it has almost 2x’d since then.

Captain Faibik Cardano price analysis

Meanwhile, Bob Loukas noted a similar trajectory for Solana, with its price breaking a significant weekly time frame resistance. When Bob reported the breakout, SOL was trading at $40, meaning it has seen a 75% increase since.

Bob Loukas SOL price analysis

But while Cardano and Solana have been some of the first big movers of the altcoin season, analyst Kakz.eth informed X followers that the next cryptos to pump will likely be newer, lower market cap projects, resulting in much more substantial gains.

Kakz.eth market cycle explanation

However, with so many promising altcoins to choose from, it can be challenging to identify the best ones. With that in mind, let’s consider the best altcoins to buy now based on price, market narratives, use cases, adoption, and more.

What Are the Best Altcoins to Buy Now?

Understanding market narratives is one of the most sure-fire ways to identify promising cryptos. For instance, Cardano’s pump was driven by its growing on-chain activity, with its TVL seeing a substantial increase through October.

Meanwhile, investors saw Solana as “cleansed” after the removal of Sam Bankman-Fried and FTX. 

These stories created social media echo chambers, fostering hype and FOMO, causing massive liquidity inflows.

Taking this knowledge, projects with a simple and clear message that fits into the current crypto landscape have the best chances of exploding come altcoin season.

Techopedia has recently reviewed some new low market cap cryptocurrency projects on our best altcoins to invest in.

For instance, GambleFi meme coin Meme Kombat blends two of crypto’s most trending narratives, giving it a mass audience appeal. Additionally, it features utility and robust security measures like a doxxed team and smart contract audit. 

Meme Kombat presale homepage

These factors provide a significant advantage over other meme coins, potentially enabling it to grab a considerable market share quickly.

Cardano ecosystem meme token SNEK has soared 200% in the past 30 days alone, demonstrating how strongly meme cryptocurrencies can trend.

Another trend that is even more impactful is the Bitcoin ETF narrative. Cryptos that can benefit from the ETF approvals stand to soar in the coming month as ETF excitement grows.

Bitcoin ETF Token is strategically placed to reward holders as ETFs are approved, meaning buying $BTCETF is like betting on the SEC’s decision. It also offers deflationary tokenomics and utility, furthering its potential should the ETFs be approved.

Bitcoin ETF Token presale homepage

We can also consider adoption and tangible data insights when predicting the best cryptos to buy. Projects that generate notable adoption from their early stages often produce outstanding gains. 

Crypto casino Rollbit exemplified this, climbing to a $800 million market cap within months of launching, with its team claiming the platform had attracted 1 million users.

However, a lower market cap alternative with massive potential is TG Casino. It is currently in its presale but already boasts over 2450 active users who have wagered more than $38 million, with net deposits totaling $3.7 million.

TG Casino presale homepage

The platform boasts advantages over Rollbit, like being licensed and regulated, having no KYC process, launching on Telegram for a seamless user experience, and many perks included with the $TGC token.

Keeping a diversified portfolio with new altcoin projects can help to mitigate risk if the Bitcoin price trades sideways during alt season.

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Elliott Lee
Editor
Elliott Lee
Editor

Elliott is a British cryptocurrency journalist and copywriter. Having spent the past couple of years immersed in everything crypto, he now spends his time researching the most impactful cryptocurrency trends. He looks for projects with long-term visions and is a huge believer that blockchain technology can solve the world's most pressing issues.