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As December begins, investors often explore fresh opportunities or rebalance portfolios. One area that’s especially interesting is the Decentralized Physical Infrastructure Network (DePIN). DePIN projects focus on creating decentralized solutions for physical infrastructure, offering unique investment potential. Here are five DePIN altcoins worth watching this month.
Source: https://www.fameex.com/en-US/learning/what-is-depin1. Filecoin (FIL)
Market Cap: $3.44 billion
Current Price: Around $5.70
Filecoin specializes in decentralized data storage. Despite losing value earlier in 2024, it has recently shown strong momentum. Over the last 30 days, its price has surged by 56.22%.
Key Indicators:
- The Awesome Oscillator (AO) remains positive, signaling bullish momentum.
- In early December, the price might climb to $6.50.
- A bearish shift could push the price down to $4.96.
2. Arweave (AR)
Current Price: $21.13
Weekly Growth: 20.98%
Permanent decentralized storage is the main emphasis of Arweave. A recent reversion to bullish momentum was indicated by the formation of an inverse head-and-shoulders pattern.
Price Predictions:
- Resistance at $22.05 may slow further growth.
- Breaching resistance could lead to a short-term target of $24.57.
- If bears dominate, the price could slip to $18.96.
3. Grass (GRASS)
Current Price: $3.48
Monthly Growth: 300%
Grass is a newer project that made significant gains last month. It has been forming lower highs, indicating possible consolidation before another upward movement.
Price Scenarios:
- A bullish continuation could push Grass to $3.90 or higher.
- Strong buying could see the price reach $5.
- Losing momentum may result in a drop to $2.81.
4. io.net (IO)
Current Price: $2.93
Monthly Growth: 65.13%
io.net focuses on decentralized AI computing. It has gained momentum after crossing above the 20-day Exponential Moving Average (EMA), suggesting a bullish trend.
Forecast:
- Holding above the 20-day EMA could lead to a price of $4 or higher in December.
- A loss of investor interest could send the token below $2.
5. NetMind Token (NMT)
Current Price: $3.76
Recent Volume Growth: 350%
Built on the BNB Chain, NetMind Token has regained investor interest after earlier declines. Its price has risen sharply in recent weeks.
Potential Movements:
- Continued momentum could see NMT surpass $5.
- Profit-taking may cause a dip to $2.72.
Summary Table
Token | Current Price | Monthly Growth | Potential Highs | Potential Lows | Key Focus Area |
Filecoin | $5.70 | 56.22% | $6.50 | $4.96 | Decentralized Data Storage |
Arweave | $21.13 | 20.98% | $24.57 | $18.96 | Permanent Decentralized Storage |
Grass | $3.48 | 300% | $5.00 | $2.81 | New DePIN Project |
io.net | $2.93 | 65.13% | $4.00 | $2.00 | Decentralized AI Computing Network |
NMT | $3.76 | 76.10% | $5.00 | $2.72 | Built on the BNB Chain |
These altcoins highlight the growing interest in DePIN projects. However, market conditions can change quickly. Always research and consider risks before investing.
November 28, 2024 at 6:00 pm
Updated November 28, 2024 at 6:00 pm
Remember, investing in cryptocurrencies involves risks, and it’s important to conduct thorough research and seek professional advice before making any financial decisions. (Please keep in mind that this post is solely for informative purposes and should not be construed as financial or investment advice.)
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