Both are prominent in different fields, yet they have their own unique positive aspects that make them stand out. Moreover, they are almost universally available on exchanges. There were investors who made significant gains during the previous bull season, and they are waiting for this duo to rise to prominence again. So, which two altcoins are we talking about today?
Avalanche (AVAX)
One of the popular smart contract platforms, and recently, the AVAX ecosystem also benefited from the meme coin frenzy. Despite an increasing circulating supply, the price has managed to stay strong. This suggests that the investor base and demand must also be increasing. It could be an important alternative for investors who are new to cryptocurrencies.
While everyone focuses on the SOL Coin rally, it’s true that AVAX has not seen such massive gains, but as BTC aims for $44,000 again, AVAX is also here with an increase of nearly 5%.
So, if a Spot Bitcoin ETF approval comes and new users flock to cryptocurrencies in 2024, what levels could AVAX Coin prices reach initially?
The short and medium-term outlook is positive. Bulls, having successfully defended the $38 support, climbed above $40. If demand continues to stay lively, the rise to $45 and $50 could continue. Beyond that, we should see the price reaching triple-digit levels. If AVAX can match SOL Coin’s 2021 market value record, we should see its price surpassing $200.
Dogecoin (DOGE)
Dogecoin’s near-static movements around the 20-day EMA ($0.09) are now depressing for investors. However, it’s impossible to forget that May 2021 when it nearly hit $1. As the largest meme coin, new investors tend to be more interested in the firsts and the biggest. DOGE therefore seems like a good option for medium and long-term investment. (Or maybe not, no one is a fortune teller, and no one can say it was impossible if we wake up to DOGE price hitting zero one morning.)
The solid recovery from the 50-day SMA on January 1st shows that bulls fiercely defended the level. If buyers can push the price above the 20-day EMA, DOGE could target $0.1 and then $0.14.
