Particularly after Bitcoin lost its year-to-date positive momentum last month, the altcoin market is exhibiting fresh signs of recovery. The much awaited alt season appears to be approaching, as Bitcoin’s dominance has been declining for three months in a row. However, it’s important to keep in mind that any further weakness in Bitcoin could undoubtedly affect the liquidity of altcoins, undoubtedly bringing them all down at once.
Santiment’s Analysis of Lucrative Altcoins
The majority of altcoins are currently in a favourable buying zone, according to the market intelligence website Santiment, following significant losses since June. Santiment has identified a number of cryptocurrencies, including DODO, GALA, MAGIC, MASK, and SRM, that it anticipates will perform well in the near future.
Gala (GALA) Displays Signs of Resistance
Gala (GALA), a blockchain for gaming, has attracted significant interest, particularly as Gamification initiatives gain widespread implementation. According to Coingecko‘s market knowledge, GALA is currently trading at about $0.0161, up 3.6% from the previous day. The Gala value is getting close to a crucial support level, suggesting the possibility of a rebound, especially in light of the increased daily trading volume.
DODO Features Propulsion
Dodo, a growing decentralized organization running on Binance Sensible Chain and Ethereum, has seen a rise in the value of its governance token in recent days. According to the most recent cryptocurrency data, DODO‘s value increased by almost 21% in the last day, reaching about $0.116 during the early Asian session on Wednesday. Additionally, DODO’s daily average trading volume has increased significantly during the past 24 hours by almost 1,015%, hitting about $55,162,128.
