Altcoins to watch next week as Bitcoin (BTC) dominance declines: MMTR, SUI, and BONK

Bitcoin (BTC) prices have declined after the much-awaited exchange-traded fund approval, confirming a sell-the-news scenario for the bellwether digital coin. Meanwhile, top tokens, including Memeinator (MMTR), Sui (SUI), and the Solana-based Bonk (BONK), appear ready for uptrends in the upcoming seven days.

Bitcoin’s plunging market dominance

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The top crypto witnessed massive sell-offs at the $46K value area, triggering price declines toward the $42K vicinity. Further, bearishness emerged in the previous 24 hours as Bitcoin suffered significant liquidations. That catalyzed plunges towards $41.5K before slight revivals to press time values of around $42.6K.

Moreover, BTC’s market dominance has hit a month low of 51.14%. The declines could be fueling the upticks within the altcoin space. Generally, investors purchase alts during Bitcoin price dips.

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Continued Bitcoin dips will likely push altcoin prices to significant highs in the upcoming week.

Memeinator (MMTR)

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Memeinator continues to cement its market presence as it focuses on legitimacy within the meme crypto world. The altcoin has remained on investors’ radar due to various optimistic developments, including successful presale, massive airdrops, and lucrative giveaways.

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Interested players can buy MMTR at the current price of $0.0186. That could present a lucrative profitability opportunity as analysts expect the token to climb past $0.1 by 2024 end, which isn’t far-fetched when we consider performances by rivals such as Pepe Coin.

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Sui price outlook

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Sui maintained a bullish outlook in the past day, approaching its ATH as it overcame the vital $1 level. Bears fought for control as they dragged the token from $1.35 mark to $1.240 during this writing. Success by sellers might catalyze an EMA 20 retest, considering the overbought conditions from the Relative Strength Index.

SUI 1D Chart on Coinmarketcap

Nonetheless, a bounce back beyond the EMA 20 could propel SUI prices toward $2 in the coming week.

BONK price analysis

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BONK attracted market participants with its recent performance. However, the alt remains range-bound after it failed to overcome the obstacle at $0.000017. It exhibited bullishness at $0.00001448, following a more than 6% jump in the past day.

BONK 1D chart on Coinmarketcap

Meanwhile, the RSI swayed near the mid-level, while 20d EMA remained somewhat horizontal, failing to provide direction to bears or bulls.

Bulls should maintain BONK beyond the downward trend line to ensure dominance in the upcoming week. Such a move could push the asset toward $0.000023 before contemplating further uptrends.

You can find more info about Memeinator on their website.

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About the Author: Daniel