Top Crypto Picks for May 27th: NOT, FLOKI, WIF
As the week kicked off, global markets remained quiet due to the Memorial Day holiday in the US. However, the cryptocurrency market was in a positive mood, with most major coins experiencing gains. This was partly influenced by pro-crypto comments made by former US President Donald Trump last week, as well as the surprise approval of spot Ethereum ETFs by the SEC. Bitcoin (BTC) reached a high of $70,600 before settling at around $69,600, up 1.5%. Ethereum (ETH) also performed well, nearing $4,000 after coming close to hitting that mark earlier in the day. Traders are eagerly awaiting more information on the potential launch date of Ethereum ETFs in the US, as well as the release of US Core PCE inflation figures on Friday. Positive data from recent US macro reports has eased concerns about delayed rate cuts by the Fed, and if Friday’s data shows a drop in the Core PCE inflation rate, it could further boost the crypto market.
One cryptocurrency that presents a good value opportunity at the moment is Ethereum. Despite Bitcoin surpassing its 2021 highs and the market maturing with the approval of ETFs, Ethereum remains around 25% below its 2021 record highs. With regulatory uncertainties now cleared up, Ethereum has the potential to reach $5,000 and is considered one of the best cryptos to buy now. However, some traders may be interested in smaller, lesser-known altcoins with high potential for outperformance.
Here are three strong performers on Monday that could be the best cryptos to buy now:
1. Notcoin (NOT): The recently launched crypto token of the viral Telegram-based play-to-earn game, Notcoin, has seen a significant increase in value, rising 55% in the past 24 hours. Currently in the top 100 cryptos with a market cap of around $850 million, Notcoin has the support of the TON Foundation and a large user base. With the potential for 5 to 10 times gains, Notcoin is a promising investment.
2. Floki (FLOKI): Floki, a meme coin inspired by the Shiba Inu dog, has experienced a 22% increase in the past 24 hours. Breaking back above a short-term upward trend channel, Floki may soon test its earlier yearly highs above $0.00031. With a market cap of $2.6 billion, Floki has the potential to increase by 5 times this bull market, making it an attractive investment.
3. Dogwifhat (WIF): Another meme coin inspired by the Shiba Inu dog, Dogwifhat has seen a 13% increase in the past 24 hours, bringing it back to the $3.30s. It continues to rise within an upward trend channel and a retest of its May highs near $3.70 is likely. With the broader market momentum, a return to record highs at $4.86 is also possible. With a market cap of $3.35 billion, Dogwifhat has plenty of room for 5 times upside potential.
For investors looking for even greater upside potential, presale investing is an option to consider. Mega Dice Casino, a well-established crypto casino, is currently running a presale of its utility token, DICE, and has already raised $1.25 million. DICE holders receive cashback benefits and can generate passive income through staking. The casino is also running a $750,000 airdrop for early presale investors.
Please note that investing in crypto is high risk and this article is for informational purposes only and not investment advice.
