- TRX, ADA, VET, and DOGE are still good buys for 2021.
- The altcoins are currently undervalued due to the recent crypto market dip.
- However, chart analysis indicates possible price improvements.
The cryptocurrency market has been free-falling and many investors are wondering if their coins are still a good investment. Here is why we believe TRX, ADA, VET, and DOGE are still the best buys of 2021.
TRON has experienced a rough couple of weeks with TRX falling over 50%, in that timeframe. However, the altcoin is rebounding and is currently trading upwards with a 3% hourly gain.
What makes us believe TRX is still a good buy is that the protocol is fundamentally strong with equally strong partnerships. For instance, ORAO recently launched an oracle that stops malicious data delivery on TRON. The oracle is the first and only one of its kind.
In addition, TRON enjoys a close relationship with BitTorrent thanks to the two sharing the same CEO, Justin Sun.
At the time of writing, TRX is trading at $0.068934 with a trading volume of $3,592,544,037.
Cardano has been setting new records in spite of the current market slump. In fact, ADA even managed to flip Binance Coin (BNB) to become the fourth highest-ranking crypto by market cap size. In addition, the ADA network surpassed 1 million wallet addresses, showing that investors remain bullish on ADA.
One of the things that make ADA a popular investment option is the project’s roadmap. Cardano’s IOHK team is building ADA to be the blockchain of the future. As a result, each upgrade is met with market enthusiasm and a corresponding price surge.
In addition, Cardano aims to provide a scalable, faster, and cheaper alternative to Ethereum. In line with this, the blockchain recently announced its plan to launch an Ethereum converter that will allow users to move ERC20 tokens from the often congested ETH network to ADA. IOHK also added that the converter is the first step in enabling the migration of Layer 2 blockchains from Ethereum to Cardano.
Notably, over the past 5 days, ADA price charts have formed an ascending scallop chart pattern. This chart pattern is a bullish indicator that could signal an imminent price break out. In addition, ADA RSI is currently about 55 indicating that the altcoin is underbought, at the time of writing.
VeChain is a popular blockchain that helps users enhance their supply chain management. However, providing a real-world applicable solution makes the VeChain more than popular, it is undervalued.
Crypto influencer Scott Melker, or The Wall Of All Streets, in fact, called VET “one of the better bets in the crypto space.” In addition, despite a 55.4% dip over the past 2 weeks, the altcoin has rebounded 23% in just 24 hours.
One reason why we believe VET is still a good buy is because of its key partnerships. For instance, the Salesforce integration earlier this year sent VET surging 58%.
At the time of writing, VET is trading at $0.104200, however, analysts predict that it could go up to $0.50.
Created as a joke, quickly grew into the most popular meme-coin, but is Dogecoin still a good buy?
Dogecoin is undeniably a popular altcoin, enjoying attention from several celebrities. However, the positive press did not prevent DOGE price from falling along with the rest of the market. In fact, DOGE price fell over 40% over the last two weeks.
DOGE’s mainstream popularity makes it a good gateway to the crypto market. Also, as fans will attest the sharp price fluctuations often led to high returns for discerning traders.
In addition, popular DOGE fan Elon Musk recently announced that he is working with the DOGE team to improve the crypto’s transactions. The news was preceded by Musk disclosing that Tesla would no longer be accepting Bitcoin payments. For this reason, many investors predict that Tesla will replace Bitcoin with Tesla. If indeed Tesla adopts DOGE payment it will send DOGE to the moon.
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