ClayBro rates the top 5 cryptocurrencies that are poised to rise following a recent decision by the US Senate

ClayBro discusses the top five tokens poised to rise following the US Senate’s landmark decision to rescind the SEC’s Staff Accounting Bulletin Number 121 (SAB 121).

This move, supported by bipartisan efforts, aims to unleash innovation within the crypto industry by dismantling restrictive regulatory barriers.

Despite possible opposition from President Biden, the decision is seen as a game-changer for cryptocurrencies in the United States.

Bullish market sentiment is expected as investors see opportunities for significant price appreciation in the near term.

Ethereum (ETH)

Ethereum, the dominant smart contract platform, will benefit significantly from the recent rollback of crypto regulations. This, coupled with the ongoing efforts to launch an Ethereum ETF and a seemingly more favorable regulatory environment in the US, paints a bright picture for Ethereum’s future.

Analysts predict a significant price increase if these trends continue. Last week alone, Ethereum, the world’s second-largest cryptocurrency by market capitalization, experienced a 4.8% price increase, reaching its current value of $3,067.80.

This bullish momentum inflated the market cap to a significant $368 billion. Building on this positive momentum, analysts predict a further 2.9% increase in Ethereum’s price, which could reach $3,203.00 next month.

Pepe (PEPE)

Pepe coin, a newcomer inspired by the popular Pepe the Frog meme, is making waves in the crypto space. Meme coins have a history of booming during bull markets, and recent regulatory developments in the US point to a potential crypto boom. A more crypto-friendly US stance could lead to significant increases in value for meme coins.

Pepe coin, with its already significant market capitalization compared to other meme coins, is well positioned to benefit from this. Fueled by recent regulatory news, meme coins are experiencing a surge, and Pepe (PEPE) is no exception. Pepe is trading above average prices, reflecting growing investor confidence.

Although there is resistance at a certain price, a supportive bottom indicates continued interest. The market is taking notice and bullish sentiment is increasing. If this trend continues, Pepe could experience explosive growth, cementing its position as a major player in the altcoin market.

This potential is boosted by Pepe’s impressive 76.4% gain last month and 3.53% increase last week, along with its current market cap of $3.8 billion, which puts the company in 27th place.

Dogeverse (DOGEVERSE)

Dogeverse offers a tempting investment opportunity for those who missed the initial rush. The project is currently in the pre-sale phase and has already generated significant interest, raising more than $15 million.

As a low-cap cryptocurrency project, Dogeverse benefits from a feature known to drive significant growth. For those interested in buying $DOGEVERSE, our guide on buying Dogeverse tokens provides all the necessary details.

So this is a journey through the Milky Way 🌌#Memecoins #Altcoins #Web3 #Solana #Crypto pic.twitter.com/aplHFkQBCr

— DogeVerse (@The_DogeVerse) May 18, 2024

This positioning makes Dogeverse a potentially profitable investment. Historically, lower market cap coins have shown the potential for significant gains, making Dogeverse an attractive proposition for potentially high returns.

In addition to its meme coin status, Dogeverse functions as a multi-chain bridge, allowing users to purchase, claim, and bridge tokens across six of the world’s most active blockchains, such as Solana, Avalanche, Binance Smart Chain, Ethereum, Coinbase, and Polygon. .

Dogeverse also features a wagering system that rewards users for locking their tokens for a certain period of time. The annualized rate of return (APY) currently stands at an impressive 53%. However, as more people participate in strike action, this percentage will gradually decrease.

This decreasing APY structure incentivizes early adopters to hold onto their tokens and maximize their rewards. The combination of meme coin popularity, multi-chain functionality, and the potential for a bull market driven by recent regulatory developments positions Dogeverse as a strong candidate for substantial gains.

Visit thedogeverse.com to participate in the $DOGEVERSE token presale.

Dogecoin (DOGE)

Looking at Dogecoin today, it is performing quite well in response to recent news. However, there is still a significant distance to go before the all-time high is ever reached. There is potential for Dogecoin to achieve gains of 4x to 5x its current value, which is quite impressive.

In terms of market cap, Dogecoin could potentially go from its current level of above $20 billion to a test of $100 billion during a bullish market cycle. This could lead to significant profits. The success of Dogecoin and other meme coins such as the Shiba Inu token and Pepe token are closely intertwined.

When Shiba Inu Coin, known for its dog-meme status, or Dogecoin, experiences significant runs, it often sets off a chain reaction in the meme coin sector. Pepe Coin, as one of the newer and fastest growing meme coins, could similarly contribute to this acceleration.

This dynamic underlines the potential for further growth in other meme coins.

Shiba Inu (SHIB)

Shiba Inu, a cryptocurrency inspired by internet memes, shows a strong correlation with the price movements of Dogecoin. If Dogecoin and other meme-based coins experience an upswing, Shiba Inu’s value will likely follow suit due to investors’ renewed confidence in the cryptocurrency market and increasing interest in meme coins.

Recent developments, including the announcement of a major upgrade called Shibarium, have coincided with a rise in the price of Shiba Inu. Shibarium promises a faster, smoother and more user-friendly interface aimed at improving user experience and strengthening Shiba Inu’s market position.

Additionally, a recent increase in the Shiba Inu burn rate has contributed to the price recovery by permanently removing tokens from circulation, reducing overall supply and potentially increasing the value of the coin.

Conclusion

The Senate’s recent decision to repeal SAB 121 has created favorable conditions for potential profitability in the cryptocurrency market, especially for coins such as Ethereum, Pepe, Dogeverse, Dogecoin and Shiba Inu.

Investors are encouraged to keep a close eye on these coins as they adapt to changing regulations and capitalize on potential market rebounds. This is an opportune time to take advantage of substantial gains in the fast-growing crypto market.

For those looking for the best altcoin investment opportunities in 2024, check out our comprehensive guide to the most notable picks.

Related

Smog (SMOG) – Meme coin with rewards

• Airdrop season one now live
• Earn XP to qualify for a share of $1 million
• Featured on Cointelegraph
• Staking Rewards – 42% APY
• 10% OTC Discount – smogtoken.com