Altcoins
Weird but wonderful: 3 Altcoins with 10X potential this year
What are the best altcoins to buy this year? Let’s look at 3 AI-powered altcoins that have the potential to be 10X
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Altcoins are getting weirder and more wonderful over time, from multitasking blockchains to AI-powered graphic design. This is certainly a far cry from the original cryptos created simply as a form of currency. This leaves us spoiled for choice when it comes to which altcoins to buy.
But cryptos are inherently high-risk investments for speculators who invest their hard-earned money in them. So I have selected three altcoins to buy that I believe have enough potential to reach 10X this year.
This potential comes from factors such as proven growth, upcoming projects, general acceptance and financial support.
Additionally, if you look at the charts, you will see almost all AI altcoins positioned in a bullish cup and handle formation. This aligns perfectly with upcoming AI sector launches that will serve as catalysts for AI cryptos. OpenAI notably, will launch several projects this summer that will serve as such catalysts.
Here are 3 AI-powered altcoins to buy.
Toncoin (TON-USD)
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Toncoin (TON-USD) is a blockchain initially developed by Telegram. Today it is developed by The open network (TON) Foundation. Blockchain works on games, transactions, NFTs and more.
TON climbed to revisit its recent all-time highs. The anticipated launch of Notcoin The (PAS) token on the TON network was one of the driving forces behind this decision. He saw $294 million in trading volume on the single launch day of May 16.
The chart shows strong buying pressure against resistance. The price action appears even more bullish than its recent surge that created an all-time high. A bull flag is currently forming just below.
A breakout of the all-time high of $7.63 could see prices reach $10 in the near term. No more chart resistance after that. This makes it one of the most interesting altcoins to buy this year.
Keep an eye on broader crypto market conditions as well as AI catalysts. These will help confirm TON’s upward movements in the future.
Return (RNDR-USD)
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Give back (RNDR-USD) produces decentralized GPU-based 3D rendering solutions. RNDR token increased after their project ended introduced to Apples (NASDAQ:AAPL) recent event. Like TON, RNDR forms a huge short-term bull flag. This is at the same time as the cup and handle pattern on the long term chart that most AI cryptos display. This confluence of patterns holds great promise for higher prices this year.
If the bull flag plays out as expected, RNDR could reach $17 depending on the cup and handle target.
But the success of this project will largely depend on AI enablers. These include Cat GPT-5OpenAI search engineand the video product Sora. Look at how the AI sector performed over the summer. This will have an impact on the price of RNDR. The better the AI catalyst builds, the better they look. But successful launches are essential! Monitor this area closely.
Akash (AKT-USD)
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Akash (AKT-USD) is one of the pioneers of cloud computing, using open source blockchain technology and proof-of-stake ecological consensus mechanism.
Following my analysis of AKT last weekthe AKT coin seems to consolidate its position within a Elliot Wave third step. It completed a 5 wave pattern going back to resistance, which could be the first leg of wave 3.
On the fundamentals side, it has been rising recently in response to a combination of OpenAI’s upcoming announcement and Akash Network’s upcoming event in Argentina.
AKT looks very bullish on its long-term price chart. A massive cup and handle pattern is visible. If this happens with the confluence of Elliot wave patterns, AKT could break out hard.
Despite the technical aspects, near-term progress depends on the success of the next AI enablers. Look for a breakout of $6.15 for a potential entry point.
As of the date of publication, Sam Farnham did not hold (either directly or indirectly) any positions in any securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publishing Guidelines.
Since 2012, Sam has helped investors, traders and wealth seekers with his technical and fundamental analysis of financial markets and has developed six trading systems during this time. He is always looking for additional financial opportunities to share with readers.