Looking for the best cryptocurrencies to buy for the weekend? We’ve got you covered. In this article, we’ll explore the five best digital assets you should invest in for a possible weekend rally. Let’s dig right into it.
1. Dogecoin (DOGE)
Starting off our cryptocurrencies to buy list is the popular meme-based cryptocurrency Dogecoin.
Even though it started off as an industry-wide jab at the growth of alternative currencies (altcoins), Dogecoin is no longer considered a joke currency.
It has been able to prove itself in the last six months rising 15,000% year-to-date.
One thing that has helped the parody coin has been its fun, active community. These include the likes of Elon Musk, Snoop Dogg, Gene Simmons, and Mark Cuban as members.
Musk has served as the unofficial ‘DogeFather’ since the creator’s Billy Markus and Jack Palmer abandoned the project in 2015.
This has largely helped the Shiba Inu (not to be confused with another project with a similar name) to gain widespread attention with many companies offering support for the crypto platform’s native token DOGE.
Starting the year off at $0.009742, 2021 has been the year of DOGE’s rise with the crypto protocol accumulating a market cap larger than Ford Motors and social media giant Twitter at one time.
This has seen it grow to $0.74 before market correction. It currently trades at $0.253 increasing 10.94% on the 24hr chart. DOGE hodlers have taken to social media to hype up the digital token to regain its previous highs. DOGE users are now looking to push up its price higher, per recent tweets.
At press time, the hashtag “PayMeInDogecoin” is trending with over 32,000 tweets so far.
Meanwhile, Musk has also contributed his fair quota to Dogecoin’s sudden rise. The meme token which saw a 52-week low of $0.19 rose 10.82% after Musk satirically commented on a Bitcoin event organized by Twitter CEO Jack Dorsey to enable institutional adoption of Bitcoin.
2. Ethereum (ETH)
Next on our cryptocurrencies to buy list is the second most valuable cryptocurrency Ether. If there is anything you need to know about Ether it is that its blockchain platform is the official home of much of decentralized finance (DeFi).
And if you have been following the DeFi sub-sector for some time, you will understand the role Ethereum plays in it. The protocol which uses a proof-of-work (PoW) consensus algorithm has seen its market value drop alongside its older cousin Bitcoin after increasing 500% year-to-date to $4,350 in mid-April.
Even though Ethereum has lost more than 50% of its value since May, Ethereum’s ETH is one of the best cryptocurrencies to buy.
Trading below the $2K mark at $1,859.58 on the daily losing 5.45%. But this could be a unique opportunity to buy it for a bargain.
Ethereum is gradually migrating its consensus mechanism from a PoW to a proof-of-stake (PoS) protocol within this year. This is expected to cut down on its energy consumption to make it more eco-friendly.
The fact that crypto mining energy demands have forced investors to consider eco-friendly crypto projects should make you to snag up every available Ether you can find.
This is because once the protocol migrates to a PoS, the price is expected to surge beyond its previous ATH. Ethereum’s slump presents a unique opportunity to buy low and sell high when the market picks up.
3. Shiba Inu (SHIB)
Third on our list of cryptocurrencies to buy is Shiba Inu. Just like meme-based cryptocurrency Dogecoin, Shiba Inu is also a joke currency. Even though it does not have any intrinsic value or unique use case, Shiba Inu has the backing of prominent crypto supporters like Elon Musk and Ethereum co-founder Vitalik Buterin.
Shiba Inu started off under the pseudonym “Ryoshi” and has drawn admirers in just under a year. Built on the Ethereum blockchain, Shiba Inu is among a growing number of dog-themed cryptocurrencies including the likes of Jindo Inu, and Dogecoin.
Crypto investors have turned to the new meme token entrant as a way to get massive returns. Shiba Inu self-styles itself the “Dogeoin Killer.” Shiba (for short) has grown exponentially in a short period of time surging 21,000% during the crypto boom of April and early May and rising to an ATH of $0.00004 before market correction.
Shiba is seeing a positive price action despite the struggles of the broader crypto market. At press time, Shiba is currently trading at $0.000007342 increasing 7.32% on the daily chart. A surge in the meme coin price makes it one of the top five cryptocurrencies to buy for the weekend.
4. Cardano (ADA)
Next on our cryptocurrencies to buy is popular Ethereum killer Cardano network. Founded by mathematician Charles Hoskinson, Cardano has set out to upgrade the entire blockchain industry by developing a blockchain platform that is interoperable, secure, and scalable.
Even though it is still under development, the Cardano network has generated a lot of buzz around it due to its peculiar proof-of-stake (PoS) consensus mechanism Ouroboros mining protocol. The blockchain platform has initiated a couple of functionalities into its platform to make it easy for developers to build on the platform without paying so much in fees. At press time, Cardano’s governance token ADA is trading at $1.25 down by 1.63%.
5. Solana (SOL)
Last but not least on our least of top five cryptocurrencies to buy is another popular Ethereum killer Solana. The platform which uses a PoS protocol boasts of over 50,000 throughput outperforming large-cap protocols like Bitcoin and Ethereum.
Able to host decentralized applications (dApps) and validate transactions without users paying high fees, the Solana network has become a good alternative to the Ethereum network. More dApps are launching on the Solana network and its governance token SOL has seen positive price action as a result. At press time, SOL trades at $30.06 down 1.70% on the daily chart.
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Source: https://insidebitcoins.com/news/top-5-cryptocurrencies-to-buy-for-weekend-rally-june-2021-week-4
