These undervalued altcoins have the potential to skyrocket and most people have never heard of them
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With Bitcoin (BTC USD) already well established, altcoins offer fantastic opportunities for speculators. They are mostly unknown to the general public and yet are full of potential. That’s why they are so in demand in the search for the “next Bitcoin”.
Undervalued altcoins usually have three things in common:
1) They have real benefits. This means they can be used by global industry for many applications. This mass market adoption means huge profit potential for investors who hold the coin early.
2) Hardly anyone in the mainstream will have ever heard of it. No one in the mainstream had their head around Bitcoin until it was already worth thousands of dollars.
3) They are usually only a few dollars, often less than 1 cent. Those who bought BTC when it was less than $1 should be very happy now! This is why undervalued altcoins are so sought after.
Pepe (PEPE-USD)
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Pepe’s (PEPE-USD) The price increase came afterwards Coinbase (NASDAQ:COIN) listed futures for the meme token on his platform. This general acceptance of a cryptocurrency historically indicates the start of a long-term uptrend. Those who get in early will own an undervalued altcoin if history is any guide.
But what’s even more encouraging is that this pump followed a much larger pump that occurred a month earlier. So this Coinbase listing is just the latest building block on a very broad platform.
Continuing PEPE’s recent growth, whales were spotted investing on May 3, 2024 4.04 trillion PEPE tokens.
On the chart, PEPE recently broke out of a promising bull flag pattern. It is currently facing resistance from an inverted head and shoulders pattern. A breakout above its recent resistance suggests that the still undervalued altcoin will break out higher again if technicals develop as expected.
If this is the case, PEPE is expected to almost double its current price. But the infamous PEPE hype machine combined with one ether (ETH-USD) Rally as PEPE is based on the ETH blockchain.
Hedera (HBAR-USD)
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Which is quite typical for the altcoin community, Hedera (HBAR-USD) went through a pump-and-dump cycle. It was because of that misinterpreted messages The BlackRock (NYSE:BLACK) wanted to tokenize his fund on HBAR’s Hashgraph.
The impact left the price of HBAR at its previous levels. However, this represents an opportunity for those looking for an undervalued altcoin. HBAR is in a long-term uptrend that dates back to October 2023. It is still a whopping 80% below its all-time highs.
All promising factors. However, it must be noted that the profit potential of this undervalued altcoin is more of a long-term play. BlackRock’s recent peak may take months to reach. However, it is currently at the bottom of an uptrend channel, making it a good time to buy.
Longer term, its all-time high was in 2021, so it would take even more time to reach these highs, and of course it depends heavily on cryptocurrency market conditions remaining positive overall.
Near Protocol (NEAR-USD)
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Near protocol (NEAR USD) entered a steep uptrend in January 2024 and is currently spiraling upward in a bull flag pattern. Given the length of this bull flag, a potential breakout could occur quite soon if the technicals are normal.
A breakout of this flag shows little resistance on the way to its 1-year high at $8.90. Expect a test of resistance around this price in the short to medium term. But in the long term, its all-time high is over $20.
The rise in popularity of NEARs data availability level seems to have driven the upward trend in recent months. What is most promising, however, is that the NEAR protocol is characterized by widespread acceptance in practice. This is partly due to this Partnership with KaiKaia reward ecosystem.
This is true along with many of NEAR’s other tentacles in the crypto space – such as Integration with MetaMask, for one thing. NEAR’s current price makes it an extremely undervalued altcoin. Perhaps one of the most undervalued altcoins in the world right now.
At the time of publication, Sam Farnham did not hold, directly or indirectly, any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com’s publication policies.