Major cryptocurrencies have started the week on the front foot, with Bitcoin (BTC) pushing up 1.5% to the mid-$63,000s, but investors are turning to meme coins as they hunt for the best crypto to buy now.
Geopolitical risks could yet hurt market sentiment, with Israel expected to strike back against Iran in the coming days.
Certainly, these risks appear to have dampened sentiment in the US equity market, with the S&P 500 down 0.5% on Monday.
Other factors to consider include upcoming US Consumer Price Index (CPI) inflation data later this week.
Last week’s stronger-than-expected US labor market report dampened hopes for further 50bps rate cuts from the Fed next month.
That could also be weighing on sentiment, though the macro backdrop will likely remain a tailwind for crypto this year if the narrative is for a goldilocks combination of Fed interest rate easing at a time of continued US economic growth.
So long as geopolitics don’t spoil the party, “uptober” could be just around the corner.
At least, that’s what meme coin traders appear to be betting on.
Here are some of the biggest movers on Monday that might be the best crypto to buy now.
Best Crypto to Buy Now – Which Are They?
Mog Coin (MOG)
Ethereum-based cat-themed meme coin Mog Coin (MOG) is leading the market higher on Monday, with a 20% gain in the past 24 hours, according to CoinMarketCap.
MOG appears to have very strong momentum right now – it’s substantially above its 200 and 50DMAs and in an upward trend channel.
A rally to fresh record highs in the $0.0000030 region is likely soon, marking a 2x rally from current levels around $0.0000018.
That could easily rank it as the best crypto to buy now or the best meme coin.
Sui (SUI)
As meme season heats up, the innovative, fast layer-1 blockchain protocol Sui (SUI) has become the go-to blockchain for token issuers and meme coin traders.
SUI was up close to 19% in the past 24 per CoinMarketCap and just came within a whisker of testing its record high at $2.20.
Some are speculating that Sui might become the next Solana, so it could easily rank as the best crypto to buy now.
10x gains or more could be in store.
Dogwifhat (WIF)
Leading Solana meme coin dogwifhat (WIF) is another strong performer on Monday.
WIF was last trading around $2.70, its highest since July.
The meme coin has been trading with strong momentum since breaking above a multi-month downtrend in September and rebounding in October.
WIF has also been able to break above its 200DMA and may subsequently soon pump back towards yearly highs in the $4.50 area.
That could make it another candidate for the best crypto to buy now.
Cryptonews.com’s in-house analyst, Crypto Chester, is also bullish on Sui. See the video below for more.
Better Alternative to Consider
The above-noted coins all have the potential to post impressive gains during the ongoing crypto bull market.
However, an even better strategy for traders with a high-risk tolerance might be to invest in crypto presales.
Presales offer investors the opportunity to invest in a high-potential project at its earliest stage, well before its token launches on publicly traded venues.
If investors can reliably identify projects that gain traction in the market, they can potentially make huge gains.
Interested readers can check out Cryptonews.com’s list of top presales below.
The post Best Crypto to Buy Now October 7 – Mog Coin, Sui, Dogwifhat appeared first on Cryptonews.
This articles is written by : Fady Askharoun Samy Askharoun
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