Which Altcoin Should You Buy in December 2024: PlutoChain 2 Million Token Sold, XRP Whale Moves, Solana Updates, and Dogecoin Interest

/PlutoChain/ – December has historically been a critical month for altcoin investors over these past few years and it seems like this one is no different.

Ripple introduced RLUSD, a fully dollar-backed stablecoin that could upgrade cross-border payments. This move has sparked speculation about XRP’s expanded role in global finance.

Meanwhile, Solana is trending with its integration into Visa’s payment network, enabling direct settlement of stablecoins.

On the lighter side, Dogecoin’s development team announced a significant upgrade to its protocol, primarily around scalability and transaction speeds.

There is also PlutoChain ($PLUTO) – a robust new project that could add smart contracts to BTC with its Layer-2 technology and bring new features to it.

Let’s check out all the details.

Shortlist of Top Altcoins to Watch in December 2024 with Exciting Features

Here’s a quick overview of the projects we’ll analyze:

• PlutoChain ($PLUTO) – Hybrid Layer-2 Project That Could Bring New Functionalities to BTC via Smart Contracts
• Ripple (XRP) – Short Dip But Expected to Bounce Back in January with Large Whale Activity
• Solana (SOL) – Might See New Price Movement Above $200 in 2025
• Dogecoin (DOGE) – New DOGE ETP Could Help the Leading Meme Coin Push Toward the $1 Target

Granular Analysis of Top Altcoins to Watch in December 2024 with Exciting Features

Now, let’s take a better look at all these projects and analyze them in detail:

1. PlutoChain ($PLUTO) – Hybrid Layer-2 Project That Could Bring New Functionalities to BTC via Smart Contracts

PlutoChain ($PLUTO) is a Layer-2 solution that could potentially offer a new and better perspective on addressing Bitcoin’s long-standing challenges.

While Bitcoin remains a cornerstone of blockchain with its unmatched security and dominance, it continues to face persistent issues such as high transaction fees, slow processing times, and network congestion.

PlutoChain might propose a way to tackle these hurdles.

One of its potential innovations includes reducing block time. Instead of Bitcoin’s traditional 10-minute intervals, PlutoChain’s Layer-2 chain could bring this down to just 2 seconds on its own network.

This approach might allow developers to create faster and more efficient applications while still leveraging Bitcoin’s trusted security framework.

Additionally, PlutoChain could improve interoperability. With compatibility for the Ethereum Virtual Machine (EVM), the platform may enable developers to migrate their projects from Ethereum to Bitcoin with greater ease.

In terms of scalability, PlutoChain might be capable of handling over 43,200 transactions per day, suggesting that it has the potential to meet real-world demands without the bottlenecks other blockchains often experience during peak usage.

Furthermore, PlutoChain emphasizes decentralization and community engagement. Early adopters might have a voice in decisions about upgrades and new features.

The platform could create open discussions through its Discord channel, where users may submit proposals and participate in votes after community deliberation.

PlutoChain has undergone audits by respected firms such as SolidProof, QuillAudits, and Assure DeFi, which lend credibility to its efforts.

2. Ripple (XRP) – Short Dip But Expected to Bounce Back in January with Large Whale Activity

XRP has recently reached a high of $2.90 before correcting to around $2.20. Technical analysis indicates that XRP is trading above its 50-day and 200-day moving averages, with a sustained bullish trend.

The Relative Strength Index (RSI) is currently at 61.22, which means we might see further increases going into 2025.

Analysts have identified a bull flag pattern on the 4-hour chart, with resistance at $2.60. A breakout above this level could push XRP towards the $4 mark.

Crypto analyst Ali Martinez, citing recent data from Santiment, revealed that whales have amassed 80 million XRP tokens since the market correction began on December 17.

3. Solana (SOL) – Might See New Price Movement Above $200 in 2025

Solana (SOL) saw a notable dip below the $200 mark recently and this decline has been accompanied by a bearish RSI reading of 26.

Technical analysis reveals that SOL is trading within a falling parallel channel and it might face resistance near $235. The 200-period Exponential Moving Average (EMA) on the 4-hour chart, currently near $223, offers support.

VanEck analysts project SOL could reach $330, achieving 50% of Ethereum’s market capitalization. This outlook is based on Solana’s potential to rival Ethereum as a leading smart contract platform.

4. Dogecoin (DOGE) – New DOGE ETP Could Help the Leading Meme Coin Push Toward the $1 Target

Technical analysis shows that DOGE has broken out of a multi-year descending triangle pattern on its weekly chart, with a bullish technical target near $0.70.

Analysts have identified key support levels at $0.35, $0.285, and $0.22, with the potential for a correction if these levels are breached.

Valour, a leading issuer of crypto funds, has launched a Dogecoin Exchange-Traded Product (ETP) named “Dogecoin (DOGE) SEK.” This ETP is traded on the Swedish stock market Spotlight, providing investors with systematic exposure to DOGE by tracking its price.

Forbes analysts suggest that this could drive DOGE towards the $1 mark in the near future.

The Bottom Line

PlutoChain ($PLUTO), Ripple (XRP), Solana (SOL), and Dogecoin (DOGE) are projects that are trending this December.

However, PlutoChain’s advanced features — such as potentially enhancing Bitcoin’s utility, Ethereum Virtual Machine (EVM) compatibility, and faster transaction speeds — could help it gain the most traction.

With the potential mainnet launch just weeks away, PlutoChain could be worth watching to see how it evolves.

Remember, this article is not financial or trading advice. All cryptocurrencies are volatile, and past performance is not a guarantee of future results. Always conduct your own research and/or consult with experts before making any crypto-related decisions. Trade responsibly. Forward-looking statements are uncertain and might not be updated.

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