Top 5 Best Crypto to Buy Now: Solana, DOGE, XRP & More

Best Crypto to Buy Now: Solana, DOGE, XRP, Sui, and PENGU Explained

This article highlights five trending crypto tokens, Solana, Dogecoin, XRP, Sui, and Pudgy Penguins. These tokens are gaining attention due to strong price action, fresh developments, and growing investor interest.

Solana (SOL)

The price of Solana increased by 2.36% over the past 24 hours, and a number of things assisted in making that occur. One of the main reasons was a "short squeeze," which occurs when traders who shorted on the price decrease are compelled to buy back the token because it begins to go up. That squeeze began when Abraxas Capital lost roughly $107 million from shorting Solana, Bitcoin, and Ethereum. 

Within a single day, more than $23 million of Solana short positions were liquidated, and the funding rates went positive, which means it was costing more to short the token. Meanwhile, Solana's volume surged 55% to $5.79 billion, indicating active market behavior. To add, Bitcoin reaching a new all-time high of $122,000 has encouraged an additional number of individuals to purchase altcoins such as Solana. 

Solana is a blockchain that is fast and low-cost. It has the capability to execute numerous transactions fast due to its smart technology, which is a great decision-making criteria as far as developers are concerned. 

Benefits

• Processes thousands of transactions at cheap fees.

• Ideal for developing speedy DeFi and NFT structures.

• With a rising developer and investor base.

Dogecoin (DOGE)

Dogecoin experienced a 3.2% price increase in the last 24 hours, primarily due to Bitcoin's rally to an all-time high of $122,218. While Bitcoin moved 3.6% higher, it propelled a buying wave throughout the market, with more than $1 billion in short positions being closed out. This prompted traders to move money into altcoins such as Dogecoin, which has now risen 18.8% during the last week. Large whales also piled in, two enormous trades sending 615 million and 581 million DOGE indicated heavy accumulation. At the same time, Dogecoin’s futures trading volume reached $1.5 billion, with rising open interest showing strong interest from speculative and institutional players. 

Dogecoin had an uncertain beginning, but it is a profitable and successful crypto now. It is simple, cool, and good to use in tipping someone on the internet or using it to make instant payments.

Benefits

• It has a powerful online community. 

• The quick and easy transactions one does day to day.

• Embraced by certain shops as well as large brands.

XRP 

XRP is currently up by 7.52 percent over the last 24 hours to the level of $2.94 amid the surging popularity among large investors and a buying frenzy following technical breakouts of critical support. ProShares intends to list the first XRP Futures ETF in the United States on July 18, which is also the main cause of the jump. The action led many to similarly recall their accepted Bitcoin ETF last year and they are increasingly feeling confident towards XRP, despite their ongoing lawsuit with the SEC. The news of the ETF created speculation and trading. Currently the coin is trading at $2.98. 

The rising price of bitcoin to an all-time high of 123,000 and the enthusiasm of new crypto legislation being discussed in what is being called as Crypto Week contributed to the upbeat mood which in turn contributed to the further rise of the altcoins such as XRP. Institutions are also reading into XRP once more because Grayscale has lately added it to its leading digital fund.

XRP is developed in a fast, inexpensive and environmentally friendly way of money transfer. It assists in transferring money internationally within seconds without requiring the services of an intermediary such as the bank or payment application.

Benefits

• It is cheap since the fees are very low.

• Transfers money within a few seconds.

• Applied in banks and financial networks all around the world.

Sui (SUI)

Sui’s price jumped 13% in the last 24 hours, boosted by strong technical momentum, growing activity in its ecosystem, and overall excitement from Bitcoin’s rally. The price broke above a crucial resistance point at $3.48, which had been unbroken for weeks. The breakout confirmed automated buying and pointed to a bullish trend. Volume exploded 146% higher, reaching $2.2 billion, demonstrating that large investors are stepping in. Throughout Bitcoin's hits to $120K, $14.8 million in SUI short positions were closed, adding further upward pressure. 

On top of that, the recent integration of tBTC added $500 million worth of Bitcoin liquidity to Sui’s DeFi platform, giving users more ways to trade and stake BTC efficiently. These factors combined to push SUI higher.

Sui is a fresh, speedy and intelligent blockchain. It is meant to assist developers to come up with a superior application and games at low costs and also quick transduction.

Benefits

• Products flexi-app with objects.

• It can multitask.

• A majority of transactions are completed within less than 1 second.

Pudgy Penguins (PENGU)

Pudgy Penguins (PENGU) rose by 4.8% over the last 24 hours thanks to the heightened hype of an ETF, additional exchanges, and potent technical indicators. The rally began when SEC announced the filing by Canary capital to create a new PENGU ETF on July 10 and the interest generated by big time investors. The same day, PENGU was launched on Hyperliquid, and Coinbase and Binance U.S. made a social media shout about it--attracting more people to the token. 

Technically, PENGU has violated the major resistance areas and the RSI for it has reached 86, indicating a high level of buy even though it is in the overdone area. This is, too, coupled by an increase in the investment in altcoins as more funds are invested in Bitcoin.

Pudgy Penguins is a famous NFT brand with a token named PENGU. It is not just another coin, but it is the fuel of the entire crypto fan community, which brings fun, memes, and the good vibe.

Benefits

• Supported with a good social media following.

• Attracting the content of large organizations and advertisements.

• Assists in making the users connect and build up the Penguin community.

Conclusion

From powerful rallies to exciting ecosystem updates, these tokens show strong potential in the current market. Whether you're a trader or investor, keeping an eye on them could be a smart move.