WOO, LINK, and DOGE, are among the top five cryptocurrencies to watch out for this month, according to a report from global financial news website Investing.com. The other two coins to watch out for are FET and OCEAN.
“For specific reasons, we think crypto investors should pay close attention to WOO, LINK, DOGE, FET, and OCEAN crypto tokens,” it said.
Cryptocurrency investment has spiked globally, with Nigeria still the number one crypto transaction country in Africa, posting around $760 million in transactions in 2021, Paxful said.
WOO Network (WOO)
On WOO, Investing said, “WOO is the utility token of the WOO Network, a deep liquidity network that connects traders, exchanges, institutions, and DeFi platforms.
“WOO Network users apply WOO for staking purposes for CeFi and DeFi products. WOO’s price action suggests a potential bounce from crucial support established at the end of Q1, 2023. The support is around the $0.137 region, and bouncing off of it could see WOO return to the $0.252 resistance region before pushing towards its yearly high of $0.389.”
Read also:Regulation of cryptocurrencies in Nigeria: A new wrinkle
Chainlink (LINK)
Investing noted that Chainlink is a technology that helps blockchains talk to outside things safely. It’s been around since 2017. Its utility token or special money is called LINK, which is the 21st most valuable digital money on CoinMarketCap.
It’s worth $3.2 billion. LINK’s price has been going down since late July, but it might stop falling soon and start a recovery. In June, it was said by Investing that the coin hit a low point at $5.716. This could be a turning point for LINK, and it might go up in September. But if it doesn’t, it could go down even more, maybe to $5.00.
Dogecoin (DOGE)
DOGE is like the money for a funny internet coin called Dogecoin. It’s based on the famous “doge” meme. In August, DOGE went up from a low point of $0.0561, but then it stopped going up, and now it’s stuck around $0.630. Investing added that people are interested in DOGE because of Elon Musk and things happening on Twitter. People who invest in cryptocurrency are watching DOGE closely. If it goes up from the current price, it might reach the next level at $0.0774.
Fetch.ai (FET)
Fetch.ai is a place where smart computer programmes (AI) live. They have their own money, called FET. Since June, the value of FET has been staying pretty close between $0.1816 and $0.2565. But recently, it went up a lot and almost reached the highest point. If it breaks above this range, FET might go even higher, maybe up to $0.2903.
Ocean Protocol (OCEAN)
Ocean Protocol, or OCEAN, investing said, “With Ocean Protocol, individuals and organizations can monetize their data through ERC-20-based tokens. The platform’s native token, OCEAN, shows significant upward momentum after bouncing off a local low. A continuation of the rally could see OCEAN push towards the next resistance at $0.3561, a break above which could take it to $0.4180 in a significant rally.”
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