In recent months, the cryptocurrency market has been marked by frustration and, in some cases, despair among investors who typically look forward to the rapid value increases during bull cycles.
Major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) have experienced not only stagnation but also significant price drops, mirroring the current trends at the time of writing. Additionally, the era of meme coins seems to be waning.
Despite these recent trends and the belief among some that the crypto bull market may be over, many still hold hope that the June downturn is merely a calm phase in a cycle that will soon spark another surge, propelling numerous digital assets to new highs. Regardless of the overall market outlook, several coins and tokens are still viewed as having high potential for significant gains before the end of 2024.
Solana (SOL)
As of late June 2024, Solana (SOL) is in a vulnerable position. Its popularity as a blockchain for many new projects has made it a target for criticism and potential legal challenges, especially if rumors of a significant case are accurate. On June 27, the SOL ecosystem faced scrutiny after a 90% drop in stablecoin daily volume, raising suspicions of wash trading used to inflate numbers, casting doubt on Solana’s popularity.
 |
| Solana Price 30 june 2024 $140.28 via binance |
Despite these issues, SOL has shown the ability to rally on positive news, as seen when VanEck announced plans to establish a trust for the token. With Solana considered a strong candidate for an exchange-traded fund (ETF) approval, following Ethereum, it might reach unprecedented heights before the end of 2024.
XRP (XRP)
The case for XRP’s potential surge has remained consistent for years. XRP’s price has been significantly impacted by the ongoing legal battle between Ripple and the SEC. If the regulator loses the fight, XRP could experience a significant price increase, as suggested by past market reactions to similar events.
 |
| Xrp price at 30 june2024 $0.4727 via binance |
This argument has been bolstered by recent developments over the past year, particularly the U.S. Supreme Court ruling against the SEC’s ability to use in-house rules, weakening the regulator’s position in future cases. The SEC faces increasing pressure, with Coinbase filing its own lawsuit against it and Ripple achieving occasional legal victories.
MAGA (TRUMP)
The 2024 presidential elections have become a significant topic, influencing the crypto markets and leading to the creation of meme coins centered on candidates Joe Biden and Donald Trump, as well as various non-fungible token (NFT) collections. While any candidate-themed cryptocurrency could potentially surge if their associated politician wins, MAGA tokens currently appear more promising than the Biden-themed ones.
 |
| Maga price 30 june 2024 $6.874 via CoinMarketCap |
This trend became more pronounced on June 28, following reports that the Democratic Party might replace President Biden on the November ballot after his performance in the June 27 debate. Among the Trump-themed cryptocurrencies, the MAGA (TRUMP) meme coin stands out. It is the largest in market capitalization, approximately $350 million, and has shown strong reactions to news related to Trump. The MAGA meme coin reached its all-time high a day after Trump was convicted. At the time of writing, its price is $7.96, reflecting an increase of 47,932% since its inception.
Disclaimer: The content provided is not investment advice. Investing is speculative, and your capital is at risk. Always DYOR( Do Your Own Research)