Even with the market experiencing a downturn, some of the best coins for 10x gains are still holding quite strong. Contrary to what many investors would have hoped, the market appears to have entered into another bearish trend. Even in the current market condition, some assets are looking very attractive. Below, we’ll consider some of the best coins for 10x gains:
1. Dogecoin (DOGE)
Dogecoin is the leading meme coin in the market. Created as a meme coin based on the famous Japanese Shiba Inu dog, the currency doesn’t serve any specific value. However, it has caught on and now controls a massive online community. Meme coins themselves have been known to deliver impressive returns – especially in the short term. So, it leads the rankings of the best coins for 10x gains.
DOGE currently trades at $0.216 – down 3.73 percent in the past day and 11.51 percent in the past week. The asset’s performance has been quite mellow recently, and it currently trades under all of its simple moving average (SMA) indicators – from the 10-day SMA of $0.2366 to the 200-day SMA of $0.2539.
DOGE’s relative strength index (RSI) stands at 33.17, showing that the coin is incredibly underbought. This is understandable, considering its recent price movements. However, top stock trading app Robinhood rolled out a fee-free recurring crypto purchase tool that supports several top assets – including DOGE. Considering that DOGE accounted for 62% of Robinhood’s crypto revenues in Q2, this feature could lead to a flood of purchases for the leading meme coin.
2. Polkadot (DOT)
Next on our list of the best coins for 10x gains is DOT – the native token for the Polkadot ecosystem. Using an innovative approach, Polkadot looks to solve the blockchain trilemma and possibly dethrone Ethereuma s the industry’s top blockchain platform. Like many other “Ethereum killers,” Polkadot has become especially popular in 2021 – much to the pleasure of DOT investors.
Currently, DOT trades at $29.47 – down 3.59 percent in the past day and 20.88 percent in the past week. The asset’s technicals are a bit stronger than DOGE’s, although that’s not saying much. All of DOT’s short-term SMA indicators are trading above their current price, from the 10-day SMA of $33.85 to the 30-day SMA of $30.84. However, the coin is trading above its 50, 100, and 200-day SMAs. This means that DOT remains a viable buy option – especially for long-term traders.
DOT’s RSI is 47.11 – higher than DOGE but still underbought. This might be a pretty good time to buy the coin, especially as Polkadot continues to make headway into the decentralized finance (DeFi) space.
Earlier this month, decentralized data aggregator SubQuery raised $9 million to build Polkadot’s first data aggregation layer.
3. Binance Coin (BNB)
BNB is the native token for Binance – the world’s largest and most popular cryptocurrency exchange platform. The asset is used to connect everything in the Binance ecosystem, allowing users to make payments, stake, and more. BNB has come a long way in 2021, and it is looking to test its highs again. So, it deserves inclusion among the best coins to buy for 10x gains. BNB currently trades at $373.43 – down 1. 47 percent in the past day and 7.73 in the past week.
The coin’s technicals aren’t exactly strong, especially s it is trading below all of its SMA benchmarks. However, being one of the most valuable cryptocurrencies, it is sure to lead the way when the market rally starts. With an RSI of 37.14, BNB is still very much underbought. The asset is still attractive to many investors due to its affiliation with Binance, which has recently been overhauling its services in order to stay regulatory compliant. Yesterday, the company announced that it would cease offering crypto options and futures to its Australian customers. As Binance continues to move in a more regulatory-compliant direction, the company should benefit in the long run.
4. Algorand (ALGO)
Next on our list of the best coins for 10x gains is ALGO – the native token for the Algorand blockchain. Like Polkladot, ALgorand has become especially popular in recent months as more people look to find alternatives for Ethereum. With an increase in popularity, Algordna’s good fortunes have also extended to ALGO and its investors.
Currently, ALGO trades at $1.78 – up 4.64% in the past day, but down 16.65 percent in the past week. The asset’s technicals look much better than the other coins on this list, with ALGO only trading below its 10-day SMA of $2.00. Every other indicator – from the 20-day SMA to the 200-day SMA – trades under the coin’s current price.
ALGO’s RSI is at 53.47 – the highest on the list, but definitely still underbought. If you’re looking to buy the dip, this might be the best time. Institutional demand for ALGO is rising, with New York-based hedge fund SkyBridge Capital recently raising $100 million for an Algorand fund. If institutional demand for a coin starts to rise, it’s a clear indication that this might be the time to pick some up.
5. Internet Computer (ICP)
Last, but definitely not the least on our list of the best coins for 10x gains is ICP. the coin powers Internet Computer – a decentralized network that looks to create an enabling environment for the development of decentralized applications (dApps).
Despite just being available on exchanges this year, ICP has seen huge gains already. The coin currently trades at $49.01 – down 2.04 percent in the past day and 12.69 percent in the past week. The coin is trading below all of its indicators, from its 10-day SMA of $56.26 to its 100-day SMA of $52.51. The asset’s RSI stands at40.27, so it is underbought.