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Which Crypto is Next to Explode? Another Major Breakout Could Be Coming Soon!

Aggressive traders could consider buying if....

Author

Markus Thielen
November 18, 2024

👇1-14) The crypto market has accelerated significantly since the U.S. Presidential election, with many investors scrambling to catch the next big breakout after missing Bitcoin's explosive move. Bitcoin delivered a textbook breakout, retested its breakout level, and then surged nearly $30,000 in a straight line.

👇2-14) Since late September, retail activity has predominantly centered on meme coins, but a new trend has surfaced: "legacy" altcoins are now witnessing sudden and dramatic rallies. It's no longer just the $20 million market cap meme coins experiencing explosive growth; larger, more established protocols with market caps of $5 billion are also surging significantly.

👇3-14) Google Search Trends for "Meme Coins" have hit an all-time high, surpassing the previous peak in March 2024. While the “Bitcoin” search trend score reached 70 at its recent high, it has declined to 39. Retail speculation has surged significantly since the election, as demonstrated by a sharp increase in altcoin spot trading volumes. Altcoin searches are also catching up, reaching a search score 70, the highest level since November 2021.

Altcoin and Meme Coin Google Search Trends (last 5 years, score from 0-100)

👇4-14) The sustainability of these rallies is a topic for a deeper analysis (and another report). For now, the market's rapid pace outstrips the speed of reporting. In the sections below, we delve into the factors driving these coin surges and spotlight several key assets approaching critical levels with potential breakout opportunities.

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