Popular cryptos are on the rise amid Bitcoin’s (BTC-USD) considerable recovery. It now trades at around the $27,000 mark, gaining over 3% over the past month. The coin traded as low as $25,000 in June amid confusion in the broader economic environment. Momentum is now on the side of the bulls and some of these lesser-known cryptos are poised for takeoff.
Despite the majority of coins minted today being outright scams, the popular cryptos to buy have actual utility and usefulness in their respective blockchains. These popular cryptos are also supported by strong ecosystems and impressive market caps, which should allay investors’ fears of a potential rug pull or exit scam.
So, if you’re on the hunt for the next coin that could moon in the near future, here are some of the most popular cryptos to buy.
Wall Street Memes (WSM)
Wall Street Memes (WSM-USD) has rapidly gained traction, raising an impressive $26 million. With a strong community-first approach, it boasts a following of 1.1 million dedicated fans. It has also found its way to some celebrities and even billionaires’ radars, with Elon Musk notably tweeting about it.
Adding to the bullish bias, it has other influencers backing it like Satoshi Stacker, Michael Wrubel, and Wendy O. Due to these influential accounts talking about it, the sentiment is overwhelmingly positive on social media.
The coin is nearing its target of $28.9 million, with the presale set to conclude on September 25th. With a current price of $0.0337, the coin is scheduled to be listed on September 27th on several tier 1 exchanges, although specific exchanges have not been announced.
So due to the hype surrounding the Wall Street Memes meme coin, it’s certainly one of those popular cryptos to keep an eye on.
Solana (SOL)
Solana (SOL-USD) has emerged as a formidable layer 1 blockchain, often compared to Ethereum (ETH-USD). Despite facing challenges in the past, Solana has recently boasted 100% uptime in Q2 2023 for its network. Additionally, its entry into the mobile crypto market, with the launch of the $1,000 Saga mobile phone optimized for crypto, shows that it has plenty of upside potential to spare for investors.
The market is also bullish about SOL’s long-term prospects. Price predictions for SOL in 2023 range from as low as $14.76 to as high as $39.54. Despite past highs including an all-time peak of $260.06 in November 2021, Solana’s future remains uncertain with price estimates for 2025 and 2030 varying widely.
It should be noted though that a rising tide lifts all boats. In this case, if Bitcoin continues its meteoric rise, it will take all altcoins like SOL along for the ride. A rising BTC price not only improves investor confidence, but it’s also one of the most dominant trading pairs.
A social media commentator, BitQuant, believes BTC will not peak before its halving and predicts a new all-time high including the price reaching $250K after the halving in 2024. Whether this prediction is based on legit fundamentals, technicals, or simply a self-fulfilling prophecy in the making, this makes SOL one of those popular cryptos to buy.
Ripple (XRP)
Once embroiled in legal battles with the SEC, Ripple (XRP-USD) has seen a resurgence following a legal victory in July. The success led to a significant price surge. The coin is up over 57% year-to-date, and its momentum suggests it could climb higher by the year’s end.
Technical analysis suggests significant resistance for XRP at the 0.5040 level, which is crucial for determining its future trajectory. It currently trades around this level, with bulls fighting bears to maintain the psychological peg.
There is a potential powder-keg that could send XRP to new heights. Rumors are circulating on social media that BlackRock (NYSE:BLK), the world’s largest asset manager with over $9 trillion in assets under management, may shift its cryptocurrency focus from Bitcoin to XRP. It’s speculated that the change could be due to a myriad of reasons including its recent win over the SEC. However, it’s worth noting that these rumors have been confirmed to be unsubstantiated and are likely to be speculation.
Although the rumors were dismissed, these types of events can still influence the XRP price. It’s therefore another reason it’s one of those popular cryptos to watch.
On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
