As November approaches, the cryptocurrency market is poised for potential profits as Bitcoin’s rally reignites investor interest. Bitcoin has been on an upward trend recently, pushing other altcoins higher. However, market dynamics suggest that some altcoins could outperform Bitcoin as momentum builds in November.
Three virtual currencies to surpass Bitcoin in November
Bitcoin prices rose 5.4% to more than $71,200 as the cryptocurrency market gains momentum ahead of the US election. Here are three cryptocurrencies that are expected to rise significantly as market conditions continue to be favorable.
Dogecoin (DOGE)
Dogecoin (DOGE), a popular meme-based cryptocurrency featuring the Shiba Inu from the viral meme “doge,” has seen a notable rise. The latest DOGE price has increased by 15% over the past week to reach $0.165. Over the past year, Dogecoin’s value has skyrocketed by 139%. This reflects increased investor interest and suggests it could outperform BTC in November.
Recent data also reveals a significant increase in whale trading, with transactions over $100,000 surging in late October. This massive spike in activity suggests strong interest from major holders and signals possible market movement against Dogecoin.
Source Santiment
Solana (SOL)
Solana (SOL), a layer 1 blockchain network, is gaining traction in the decentralized finance (DeFi) space. The reason for its popularity is its fast and scalable transactions at low cost. Solana supports a wide range of decentralized applications (DApps).
In the past 24 hours, SOL price increased by 4% to reach $182. Over the past year, SOL’s market value has increased by over 460%, showing strong growth. Experts believe Solana could outperform Bitcoin in November amid a market recovery.
If the bullish momentum continues, SOL could move above $190. If pressure from the bulls increases further, Solana could reach a new high of $260 next month.
Source: TradingView
Sui (SUI)
Sui (SUI), a prominent layer 1 blockchain, is gaining attention as a secure and fast private digital asset management solution. The scalability of this platform resulted in Total Value Locked (TVL) reaching an impressive $9.36 million. Recently, the price of SUI rose to $1.87, an increase of 10% in one day.
Over the past month, the top altcoin has surged 12%, and Sui has returned 310% for the year, establishing itself as a market performer to watch. Investors currently believe Sui is a strong candidate in November and expect it to outperform Bitcoin and demonstrate its clout in the competitive crypto environment.
Source – DeFiLiama
The altcoin market is positioned to rival Bitcoin as new momentum builds in November. The outlook for this month remains promising, with certain cryptocurrencies set to take advantage of renewed investor interest.
Frequently asked questions (FAQ)
Favorable market trends, Bitcoin appreciation, and investor interest drive the altcoin rally.
Increased whale activity and rising prices suggest increased investor interest.
Solana’s fast transactions and DeFi popularity increase its growth potential.
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Disclaimer: The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.
