As the cryptocurrency market begins to surmount its recent quiescence, particularly with the resurgence of meme coins, PEPE indisputably leads the pack of meme coins that have captured attention in recent weeks. Which cryptocurrencies, then, are poised to capitalize on the month of May, traditionally associated with the adage “sell in May and go away”?
5 Altcoins to Monitor in May
Pepe (PEPE), previously mentioned, may also seize the limelight in May. Having achieved a meteoric ascent in a brief period, PEPE’s popularity is expected to persist throughout the month. While its current trajectory appears bearish following the substantial upswing, a potential overall bullish momentum may prove advantageous for PEPE.
Second on the list is a cryptocurrency familiar to avid market observers. Render Token (RNDR), listed by the Coinbase cryptocurrency exchange at the year’s outset, experienced a surge dubbed the “Coinbase Effect.” With a 285% increase within a few months, RNDR’s $2.15 valuation may shift in May.
In third place is MultiversX (EGLD), formerly Elrond. Also listed by the Upbit exchange, EGLD could recapture its previous momentum should a “DeFi Summer”-esque period materialize.
Fourth is VeChain (VET), which has exhibited a noteworthy performance in preceding weeks. Following a brief pause, VET may resume its ascent with the VeChainThor mobile cryptocurrency wallet update slated for May 4. The team announced the update on Twitter, eagerly awaiting the wallet’s availability. It is worth noting that VeChain has yet to reach its all-time high.
Lastly, Stacks (STX) takes the fifth spot. Recently endorsed by Binance for its layer 2 update, Stacks will be employed in conjunction with the Bitcoin network on one of the most prominent exchanges. The update, which will activate on block number 787,651 on the Bitcoin blockchain network, may positively influence the price.
Despite the conventional trepidation surrounding a decline in May, the cryptocurrency market may exhibit an unanticipated performance. Esteemed analyst Michael van de Poppe recently asserted his expectation for the continued ascent of altcoins.
