In the past two weeks, the cryptocurrency market experienced significant growth across most major altcoins, spurred by speculation around the U.S. Federal Reserve rate cuts. During this market rebound, Solana, Dogecoin, and BNB Coin attracted significant investor attention due to their respective developments. However, which among the three could lead the bull run in $2024?
Dogecoin vs. Solana vs. BNB: Who’s Set to Soar in 2024’s Price Rally?
Following the Bitcoin price surge above $60000, the crypto market speculation grew for the potential bottom formation of the prevailing correction trend. As the quarter-four looks promising for digital assets, which among these three altcoins will outperform their competitor?
Solana (SOL)
Solana, a leading Layer-1 blockchain, tops our list due to the wave of developments unveiled at its Breakpoint Conference 2024 in Singapore. Additionally, at the Token2049 conference, Solana Labs introduced the Seeker smartphone, an upgraded model with enhanced hardware and a lower price than its predecessor.
Amid these events, the Solana price prediction showcased a sharp bounce from $128.9 to $149 this week, registering a growth of 15%. With sustained buying, the SOL price is poised at 21% before challenging the multi-month resistance of the flag pattern at $180, positioning the asset for a higher rally.
Dogecoin (DOGE)
DOGE, the largest meme cryptocurrency by market cap, has recently shifted its prevailing downtrend to sideways above $0.091 support. The bullish momentum gained traction as Elon Musk and Tesla Inc. successfully had a lawsuit dismissed that accused them of inflating the price of Dogecoin in what was described as a $258 billion “pyramid scheme.”
Following the legal victory, the speculation of Dogecoin acceptance for Tesla cars rose again, accelerating the bullish outlook. In the last two weeks, the DOGE price surged from $0.091 to $0.108, accounting for an 18.4% surge, while the market cap boosted to $15.8 Billion.
Unlike Solana price, this joke coin is just 7% away from a critical breakout above the $0.115 resistance, positioning it for a potential higher rally.
For a detailed analysis, check out the top meme coin articles.
Binance Coin (BNB)
Within a fortnight, the BNB coin price showed a sharp V-shaped reversal from $471 to $583— a 23.8% increase. Amid the general market uptick, the upcoming release of former Binance CEO Changpeng Zhao from Long Beach RRM, a federal facility in San Pedro, has likely bolstered the price recovery.
Unlike Dogecoin, the Binance coin price is barely 2.5% away from challenging the multi-month resistance of $600. A potential breakout from this barrier will intensify the buying pressure and drive a rally past $800.
Conclusion
While the Dogecoin and BNB coin price is poised for an immediate breakout, the flood of development in Solana could bolster its native cryptocurrency, SOL, to lead the 2024 price rally.
Frequently Asked Questions (FAQs)
Solana, Dogecoin, and BNB Coin are all strong contenders, with Solana showing the most development-driven momentum, while Dogecoin and BNB Coin are poised for immediate breakouts.
Dogecoin’s recent price increase is largely due to Tesla’s legal victory and renewed speculation of DOGE being accepted for Tesla payments.
BNB Coin is closest, being just 2.5% away from breaking the $600 resistance, which could lead to a significant price rally.
Sahil Mahadik
Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
✓ Share: