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With Bitcoin finally breaking past the $50,000 level this week, traders are now looking for newly emerging altcoins capable of delivering 10x returns.
Although Bitcoin is most certainly the safest option to place cash in the crypto market, newly emerging alternatives provide better options for higher gains.
In particular, traders are now turning their attention to two different altcoins that they believe can deliver 10x returns by March 2024 – here’s why.
Smog Token ($SMOG) Sees Impressive 245% Recovery Following Early-Week Correction
The first altcoin that traders are paying attention to is the newly launched meme coin Smog Token ($SMOG).
Smog Token has genuinely gone viral as it makes its way to meme coin sensation status by surging to its current $60 million market cap high just eight days after going live.
The project quickly gained traction by introducing a novel airdrop-themed utility to the meme coin sector.
The token launched on Jupiter DEX on February 7th and instantly started to build hype due to its fair launch, allowing everybody to invest at the ground floor price with no presale.
The token then surged by 3,000% in its first three days, reaching a high of $0.087.
Like most meme coins, $SMOG retraced to reach a low of $0.03 on Monday, shedding more than 50% off its price.
Fortunately, the $0.03 support proved to be a critical level as whales emerged and pushed $SMOG higher by over 245% this week, recovering all of the losses seen during the week.
Why Do Analysts Think $SMOG Will Deliver a 10x by February?
The unique airdrop utility puts SMOG in a different category from most meme coins as it offers something completely novel.
Smog Token allows users to buy and hold $SMOG to earn airdrop points to be eligible to participate in the biggest airdrop in the meme coin sector.
Furthermore, users can also participate in the Zealy campaign to earn airdrop points and receive the incoming airdrop.
The Zealy campaign is what’s likely helped $SMOG to go absolutely viral. The Zealy platform brings social engagement to projects by rewarding users for completing quests, such as following the project’s X profile and joining its Discord community.
According to the team, Smog Token’s Zealy camping has seen an astonishing 55,000 quests completed in eight days – demonstrating the incredible hype behind the project.
Furthermore, the setup behind $SMOG is unique, with hallmarks that its experienced Web3 team could be the same anonymous guys that produced Dogwifhat or Spongebob Token.
Overall, Smog Token is causing a stir in the meme coin sector and is on track to deliver 10x returns by March 2024.
Bitcoin Minetrix Crosses Astonishing $11 Million Funding Milestone
Another token that experts believe will produce 10x returns in the coming weeks is Bitcoin Minetrix ($BTCMTX), which recently crossed the $11 million fundraising milestone this week.
Bitcoin Minetrix is a unique decentralized cloud mining infrastructure that introduces a stake-to-mine ecosystem.
The project allows everyday users to easily mine Bitcoin without having to buy or maintain expensive hardware.
The entire idea behind Bitcoin Minetrix is to help remove the scams that plague the cloud mining industry today.
Currently, lots of cloud mining services lock their users into long-term mining contracts and leave miners short on expected earnings.
Bitcoin Minetrix intends to change this through tokenization and smart contracts.
Why Do Analysts Believe $BTCMTX Can 10x In The Coming Months?
Analysts believe that $BTCMTX will be a critical infrastructure product for Bitcoin following the incoming Bitcoin block halving.
With the halving just weeks away, miners will struggle to easily mine Bitcoin following the event due to the reduced earnings.
Instead, Bitcoin Minetrix offers a solution by letting everybody buy and stake $BTCMTX to earn Mining Tokens, which can be burnt in exchange for mining time on the Bitcoin Minetrix ecosystem.
The tokenization of the process ensures users always control their funds, and smart contracts manage user allocations, so miners will never be short on expected earnings.
Bitcoin Minetrix is undergoing a presale, which recently crossed $11 million – demonstrating that investors believe it can become a disruptive force in the cloud mining space.
$BTCMTX can currently be purchased for $0.0135 through the project’s website.
Overall, Bitcoin Minetrix provides an infrastructure utility that will be required following the halving, leading to 10x returns for early adopters.
