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As 2024 comes to a close, altcoins like Hyperliquid, Sui, and Fantom are gaining attention for potential upward movements in December.
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Major token unlocks and upcoming upgrades are creating a favorable environment for price rallies among these cryptocurrencies.
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In the words of market analysts, “December has historically been a buoyant month for crypto, and this year could see prices soaring.”
Explore the top altcoins to monitor this December 2024, featuring their recent performances and upcoming events that could impact their prices.
Hyperliquid (HYPE)
Leading the charge this December is Hyperliquid (HYPE), which has made headlines for its impressive launch. Since debuting just a week ago, HYPE’s price has skyrocketed over 200%, now trading at approximately $9.51 without the backing of any centralized exchange listings. This unusual scenario highlights the high demand and trading volume, which is likely to fuel further growth.
The absence of a centralized exchange often leads to higher prices due to pent-up demand from traders eager to own the asset. In December, HYPE is anticipated to maintain its momentum, possibly targeting valuations above $10 as investor interest continues to grow.
Sui (SUI)
Sui (SUI) is another altcoin capturing attention as it approaches a significant $210 million token unlock. The asset has demonstrated resilience, with a remarkable 75% surge over the past month. Historically, such unlocks can lead to volatility, but SUI has shown strong patterns of recovery and price appreciation post-unlock.
Currently priced around $3.40, analysts suggest that SUI has the potential to rise towards $4.40 in the coming weeks, provided that market conditions remain favorable. However, if increased selling pressure emerges, a more bearish scenario could see prices retreating to $2.38.
Fantom (FTM)
Fantom is poised to make headlines with the upcoming Sonic upgrade expected to launch this month. This upgrade promises enhanced network throughput, contributing to the altcoin’s recent surge to $1.03, up 60% over last month. Interestingly, FTM has developed a bullish inverse head-and-shoulders pattern on its charts, suggesting a potential shift towards higher prices.
As the December launch approaches, market sentiment appears optimistic, with price targets potentially reaching $1.14 if the bullish momentum continues. However, external market pressures could challenge these gains.
Aptos (APT)
Another Layer-1 token on the radar this December is Aptos (APT). Set for a $135 million token unlock, Aptos mirrors SUI’s bullish trajectory following token release events. Currently exhibiting a bullish ascending triangle pattern, APT is positioned well for potential price advancements.
Market analysts are bullish, projecting APT could reach as high as $20 by the end of this month if trading volumes increase. Conversely, a significant sell-off could force the price back down to around $10.97, highlighting the need for traders to stay vigilant.
Bonk (BONK)
Rounding out the list is Bonk (BONK), a leading meme coin on the Solana blockchain. With plans for a significant token burn of 1 trillion tokens, Bonk aims to reduce supply and bolster its market value. This initiative has generated renewed interest amongst investors.
With a notable drop from recent highs, Bonk’s charts indicate solid support at $0.0000043. Analysts believe that if the price rebounds from this level, it could climb to $0.000059 or higher, assuming bullish sentiment prevails.
Conclusion
In conclusion, December 2024 is shaping up to be an exciting month for several altcoins, with Hyperliquid, Sui, Fantom, Aptos, and Bonk leading the way due to key upcoming events and market trends. Traders and investors are advised to stay informed and consider these assets as potential opportunities as the year wraps up.
