Avalanche (AVAX) and Dogecoin (DOGE) are two altcoins that stand out in the cryptocurrency market, each with its unique strengths. They are widely available across exchanges and investors who have previously benefited from bull markets are anticipating further gains. Today’s discussion revolves around these two digital assets.
Avalanche, a popular smart contract platform, has recently benefited from the meme coin frenzy. Despite an increasing circulating supply, AVAX has maintained strong pricing, suggesting a growing investor base and demand. It’s considered a significant alternative for new crypto investors.
While SOL Coin has been the focus of attention for its price surge, AVAX has also shown a notable increase of nearly 5%, signaling its presence in the market as Bitcoin aims to retarget the $44,000 mark.
Speculation arises about AVAX’s potential price levels if a spot Bitcoin ETF is approved and new users flock to cryptocurrencies in 2024. The short and medium-term outlook for AVAX is positive, with bulls successfully defending the $38 support level and pushing past $40. If demand continues, the price could rise to $45 and $50, with the possibility of reaching triple-digit levels if it matches SOL Coin’s 2021 market value record, potentially surpassing $200.
Dogecoin, the largest meme coin, has been experiencing uninspiring fluctuations near its 20-day EMA ($0.09), causing investor unease. However, the coin’s surge to nearly $1 in May 2021 cannot be forgotten. DOGE could be a good medium to long-term investment as new investors tend to be drawn to the firsts and the biggest in the market.
A strong recovery from Dogecoin’s 50-day SMA on January 1 indicates that bulls are fiercely defending the level. If buyers can push the price above the 20-day EMA, DOGE could aim for $0.1 and then $0.14.