The first five months of 2023 for the cryptocurrency industry have been nothing short of exhilarating as we head into June, the midway point of the year. After a challenging 2022, established and new digital assets have staged an impressive rebound and reignited investor optimism.
April was an interesting month but the month of May was mostly bearish, solidifying that the market is in a corrective state. The altcoins we predicted at the beginning of last month managed to preserve most of their gains and even record a positive performance.
As we settle into the sixth month of 2023, the majority of assets on the cryptocurrency market are turning a greener leaf which is an indicator that a bullish reversal will begin. Experts have predicted that June has the potential to be a very important month for the altcoin market.
If the market sees a bounce, many altcoins could recover their previous losses and also reach new all-time highs. This makes June an exciting season for traders and investors to closely monitor the market movements and take advantage of potential opportunities.
However, it is important to note that among over 25,000 cryptocurrencies, not all of them are a good idea to invest in. With this in mind, we have analysed the market, taking into account various crypto ratings, historical price trends, and the latest developments to arrive at the list of the three most promising cryptocurrencies to invest in June.
Pepe is a new meme coin sensation and it sits at the top of our list. It was Inspired by ‘Pepe the Frog’ and has witnessed one of the most impressive price surges on record (gains around +5,000,000%) recently.
Although it has dropped significantly since its ATH on May 5, industry experts have predicted that PEPE can pull off another meteoric rise.
This means that its current level is a sweet spot for investors to get it at a discounted value as it prepares for another bull run fueled by its hype on social media platforms and other online crypto communities.
Tron made a lot of waves during the COVID-19 pandemic but it has kept a relatively low profile since then. However, it has been stealing the headlines in recent weeks.
Issued by Justin Sun’s Tron Foundation, Tron topped AltRank’s list of 5,242 cryptocurrencies that combine an asset’s social, price and market activity versus the rest of the crypto market at the end of May.
Tron is a reasonable option for crypto investors because it is very inexpensive. It has shown positive momentum recently which means that speculators can get a lot of exposure for a small up-front investment.
The ranking by AltRank forebodes a bullish month of June for Tron, which makes it one of the surest cryptocurrencies to consider.
XRP is a crypto to buy in the month of June because it seems more likely that Ripple, XRP’s parent company, will be vindicated in its court battle against the United States Securities and Exchange Commission.
Recent proceedings have brought Ripple closer to a favorable decision in June and XRP is expected to multiply in value upon such a judgment.
Being the token at its centre, XRP is projected to be in for a significant rally and this is a good time for investors to purchase it at a low price because it is highly likely to make money for investors sometime soon.
This content is for informational purposes only and should not be construed as investment, tax or legal advice. It is strongly recommended that every recipient seek appropriate independent professional advice before acting on any information contained herein, as Technext provides no endorsement, opinion or advice, including investment, tax or legal, and makes no representation or warranty about the suitability of a product for a particular reader or circumstance.
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