As we step into November 2024, the spotlight is on DePIN (Decentralized Physical Infrastructure Network) projects, where digital assets and real-world solutions intersect. These innovative projects are reshaping the crypto landscape by integrating blockchain with physical applications, promising utility beyond traditional digital boundaries. Here’s a list of the top 5 DePIN altcoins to watch this month for those looking to explore real-world adoption in the crypto space.
Leading the Pack: Bittensor (TAO)
First on the list is Bittensor (TAO), a project that merges machine learning with blockchain. TAO has recently seen a 15% decline, currently trading around $510.86, significantly below its peak of $800 earlier this year. Despite this drop, the altcoin holds promising potential for recovery, presenting a compelling entry point for investors.
On the daily chart, TAO hovers just above its 50-day EMA but below the 20-day EMA. As long as it stays above the 50-day EMA, there is a solid chance for a rally toward $681.85 in November. However, if it dips below support, a further decline to $397.32 could be on the cards.
Second Pick: Filecoin (FIL)
Next up is Filecoin (FIL), a pioneer in decentralized storage solutions. FIL has been trading between $3 and $4 over the past month, offering a favorable entry for those eyeing a recovery from current lows. After a 10% increase at the end of October, FIL could test the $4.29 mark if it breaks past its $3.85 resistance. Otherwise, it may retract to $3.41 if buying momentum doesn’t materialize.
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IoT Innovator: JasmyCoin (JASMY)
JasmyCoin (JASMY) stands out for its integration with IoT technology, trading at $0.019 and currently in a descending wedge pattern. Breaking out of this formation could propel JASMY toward $0.034, with the $0.020 resistance level serving as a crucial threshold. Failure to surpass this point may see JASMY revisiting $0.016, adding a speculative edge for November.
Livepeer (LPT) and the Streaming Revolution
Supported by Grayscale Trust, Livepeer (LPT) has caught the attention of crypto investors despite a 25% price dip over the last month. The support at $10.68 forms a potential launchpad for gains, with LPT possibly reaching the $13.27 level if it surpasses the $11.84 resistance. Otherwise, LPT could test lower support at $9.96.
Emerging Altcoin: Grass (GRASS)
Closing out the list is Grass (GRASS), which has already sparked significant interest since its recent launch. Though its airdrop process faced some hiccups, enthusiasm around this new entrant remains robust. Grass is in a price discovery phase and might test the $1 level again in November. Breaking past this threshold could see it climbing to $2, though heavy selling pressure might temper these expectations.
The Bit Journal reminds readers that crypto investments involve substantial risks, and the volatility of altcoin markets requires careful analysis.
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The price predictions and financial analysis presented on this website are for informational purposes only and do not constitute financial, investment, or trading advice. While we strive to provide accurate and up-to-date information, the volatile nature of cryptocurrency markets means that prices can fluctuate significantly and unpredictably.
You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. The Bit Journal does not guarantee the accuracy, completeness, or reliability of any information provided in the price predictions, and we will not be held liable for any losses incurred as a result of relying on this information.
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