- Santiment highlights GALA and DODO as promising altcoins with recent price surges.
- MAGIC sees a positive price trajectory, hinting at a potential rebound.
- Altcoin market recovery is possible as Bitcoin’s dominance declines, but BTC’s weakness could affect altcoin liquidity.
As the cryptocurrency market continues its rollercoaster ride, one thing is becoming clear: the altcoins are on the verge of a massive rally. According to Santiment, a renowned market intelligence platform, DODO, Gala (GALA), and Magic (MAGIC) are some of the altcoins that investors should be watching closely.
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GALA, the blockchain dedicated to gaming, has been grabbing headlines as the gaming and metaverse sectors surge in popularity. Trading at approximately $0.0160, GALA has witnessed more than a 2% increase in the past 24 hours. With its price approaching a critical support level and a significant uptick in daily trading volume, GALA is poised for a potential rebound.
On the other hand, DODO, an emerging decentralized exchange operating on Ethereum and Binance Smart Chain, has seen its governance token’s value soar, reaching approximately $0.1097. This surge suggests that DODO might be on the cusp of a significant rally.
MAGIC, an innovative cross-game ecosystem that connects players, metaverses, and communities within Web 3.0 platforms, has seen its price rise by almost 3 percent in the past 24 hours, stabilizing at around $0.5137.
The recent weakening of Bitcoin’s (BTC) dominance over the cryptocurrency market has ignited hopes of an impending altcoin season. Bitcoin has been losing its year-to-date bullish momentum, making way for the altcoins to shine. Therefore, cryptocurrency experts are closely monitoring GALA, DODO, and MAGIC as they exhibit promising signs of significant price movements.
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