Top Crypto Performers Today – Brett, BitTorrent, dogwifhat

Top Crypto Performers Today - Brett, BitTorrent, dogwifhat / Source: Cryptonews

As major cryptocurrencies reverse what had been looking like a promising rally earlier on Tuesday, traders are turning to altcoin markets as they search out top crypto performers today that might deliver quick gains.

Bitcoin (BTC) was last trading just to the south of $59,000, having at one point rallied above $61,000 on Tuesday.

Ethereum (ETH) , meanwhile, reversed back under $2,600 and Solana (SOL) back to the low $140s.

All of the above mentioned coins, as well as most other blue-chip names, remain locked within recent ranges.

And that’s no surprise. Traders are awaiting major macro events later this week.

Thursday’s US PMI data will shed light on whether the US economy is tilting towards a recession or not.

And then, probably even more importantly, Fed Chair Jerome Powell will speak at the Jackson Hole symposium on Friday.

He is likely to comment on whether the Fed could cut interest rates by 25 or 50bps next month.

Crypto markets are likely to experience volatility. The most bullish scenario would likely be a combination of 1) US data showing recession isn’t coming and 2) Fed Chair Jerome Powell signaling lower interest rates without signaling that the Fed is panicking.

Other themes that traders will be watching include political developments in the USA. Betting markets give sitting VP Kamala Harris an edge over pro-crypto Donald Trump in securing the presidency in November.

Any shift back towards Trump could be another bullish catalyst for the market.

Major cryptos could all perform well in such a scenario. But smaller, lesser-known altcoins with a higher beta could do even better.

Here are some top crypto performers today in the altcoin market that could perform well in the next few weeks.

Top Crypto Performers Today – Which Are They?

Base meme coin Brett (BRETT) is leading the market higher on Tuesday, up 18.6% in the past 24 hours per CoinMarketCap .

That makes it the top crypto performer today. That said, traders still have an opportunity to buy the BRETT dip.

Last at $0.089, BRETT is down over 20% from earlier session highs.

And it remains locked well below a downtrend from the June highs.

Indeed, Brett remains over 50% down from these highs. So investors who jump in now are by no means buying the market at its peak.

Brett is likely to remain a major leader in the meme coin market. That’s why it could rank as one of the best cryptos to buy now .

BitTorrent (BTT) is another one of the top crypto performers today, having rallied close to 15% in the past 24 hours, per CoinMarketCap .

Last at $0.00000086, the native token of the BitTorrent platform is attempting to push above its 50DMA, which has acted as strong resistance since April.

A break above here could see it test resistance in the $0.000001150 area, where the late April to early June lows and 200DMA reside.

Finally, Solana-based meme coin dogwifhat (WIF) is another one of the top crypto performers today.

Last at $1.555, WIF is up around 11% in the past 24 hours. Like Brett, dogwifhat is likely to remain a leading meme coin going forward.

And investors have the opportunity to buy the dip. At its current levels, WIF is over 60% down from its earlier yearly highs.

Major meme coins are tempting investments for traders with a high risk tolerance.

The above noted coins could have 10x potential this bull market. Of course, they might also fall another 50-60% from current levels.

But meme coin traders should consider an alternative investment strategy with a potentially better risk-reward profile.

That is investing in meme coin presales. Presales offer investors the chance to get in on a coin early.

They also allow time for a meme coin to develop hype, as the project’s team uses the funds raised for marketing purposes.

Analysts at Cryptonews.com keep a close eye on the meme coin presale market. Here are some of their top picks.

16 Best New Meme Coins to Buy in August 2024