4 Altcoins to Buy Half a Week to Turn $10,000 into $1 Million in 2024

Amid the sell-off in the market, investors are moving into altcoins to buy, with one-off opportunities to dollar cost averaging (DCA) ahead Bitcoin halving.

Altcoins such as Ethereum (ETH), Shiba Inu (SHIB), Core (CORE) and Mantra (OM) are showing signs of stronger rebound this week.

While growing a small crypto portfolio to $1 million is no easy feat for many investors, it is achievable with the right strategies along with a potential bull run, especially in the crypto market.

With this in mind, investors should deliberately divide the $10,000 to buy the 4 altcoins to buy – ETH, SHIB, CORE and OM while leaving a percentage of the portfolio in a stable coin like Tether (USDT).

Having USDT in any portfolio cannot be overemphasized as it allows the investor to buy the dip, thereby increasing holdings affordably. The current pullback in price that has seen Ethereum fall below $3,000 can be used to buy more tokens, lower the average purchase price, and then maximize profits.

1. Ethereum (ETH)

Ethereum is holding steady above $3,000, trading at $3,050 during US business hours on Tuesday – with nearly a 3% correction in the past 24 hours.

A slight increase in trading volume to $22 billion indicates growing interest among traders to short Ethereum. On the other hand, the downward trend continued to reduce the market capitalization, which currently stands at $366 billion.

The relative strength index (RSI) is neural and declining at 35 indicates incoming selling pressure. The technical support at $3,000, while still in line, is unlikely to last much longer, so it may be wise to prepare for another drop into the $2,000s.

The outlook for ETH price on the four-hour chart largely highlights the strength sellers are currently holding. Note that Ethereum sits below all three bull market indicators – the 20-day exponential moving average (EMA), the 50-day EMA and the 200-day EMA (the blue, red and blue lines on the chart). If this outlook remains unchanged, further decline will begin to materialize and close at $2,500.

2. Shiba Inu (SHIB)

Shiba Inu Coin’s significant decline over the past week, dropping more than 20% in value, has seen it oscillate between $0.0000191 and $0.000028. This recent decline adds to an overall decline of 18% over the past month, highlighting a continued bearish trend in the market.

Other meme coins, including Dogecoin, WIF, and PepeCoin, have experienced similar downward moves, with prices dropping in the double digits. This collective slump reflects a broader market retreat, affecting numerous digital currencies in this category.

The meme coin SHIB has seen an increase in its token burn rate, increasing by 489.87% to reach 19,345,086 SHIB tokens burned in the past day. This information comes from the Shibburn X platform and indicates a significant escalation in efforts to reduce the circulating supply of SHIB. This spike in fire activity correlates with a period of fluctuating prices for the cryptocurrency, which has recently seen a decline.

Shiba Inu Coin is currently facing a significant resistance level at $0.000023. If it breaks through this barrier, the price could rise to $0.00003, setting a potential trajectory towards the $0.001 threshold.

3. Core (CORE)

Core is a blockchain platform that leverages the security and robustness of Bitcoin while being compatible with Ethereum Virtual Machine (EVM). It uniquely combines delegated Proof-of-Work (PoW) and delegated Proof-of-Stake (PoS) consensus mechanisms.

This design aims to optimize network performance, reduce the risk of centralization and improve transaction speed, making Core a versatile and secure basis for developing and deploying decentralized applications.

With a significant intraday drop of 19%, altcoin’s trading price fell to $2.19. Despite this downturn, the CORE coin maintains a market capitalization of $1.94 billion, securing its place among the top 50 cryptocurrencies.

For buyers to gain better control of this asset, they need to break the overhead resistance of $2.9. With this breakout, the CORE coin would reclaim 50% of the value lost in the last correction favoring the potential further growth.

4. Mantra (OM)

MANTRA (OM) stands out as a groundbreaking Security RWA Layer 1 Blockchain designed for easy integration while meeting regulatory standards. Optimized for both developer and institutional use, this platform offers a permissionless base that also accommodates permissioned applications.

Currently, MANTRA price is holding at $0.8387, having climbed 2.56% in the last 24 hours and, impressively, by 95% over the last month. These statistics underscore a strong bullish trend in the market as Bitcoin faces a downturn. MANTRA is now ranked 108th on CoinMarketCap, with a market cap of $668 million.

Bottom line

Bitcoin halving is often an opportunity to invest in the crypto market. While relevant to Bitcoin, the event affects the majority of altcoins that rally alongside Bitcoin. For example, in the last bull run, Ethereum price rose above $4,800 as Bitcoin price rose above $69,000.

With Bitcoin trading above $60,000 pre-halving, there is a possibility that the price will peak above $100,000 by the end of the year. Such a move will also spread among altcoins increasing the chances of growing a $10,000 portfolio to $1 million.

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