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Best Crypto to Buy Now 22 May – Render, Copium, Tron, AiDoge.com, Apecoin, Sponge, Ecoterra

Trent Alan
Last updated: | 11 min read

With the crypto markets seeing less trading volume, Bitcoin’s price fluctuations have mellowed lately.

However, on-chain data shows that long-term Bitcoin holders are continuing to hold on to their positions.

As a result, Bitcoin is presently trading within a tight price range. Given this, what are the best cryptos to buy now?

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Typically a very volatile asset, Bitcoin’s weekly price has stayed within a tight 4% range.

Analysts disagree on what this means: some see Bitcoin’s price as stagnant, while others expect volatility to surge again.

Despite the current lack of price movement Bitcoin has still outperformed many other assets so far in 2023.

According to a recent Glassnode report, on-chain data provides insight into Bitcoin’s price.

Although transactions have increased due to certain events, Bitcoin volume remains low.

This lack of new money coming in amplifies long-term Bitcoin holders’ strategy of accumulating more, even without making a profit, showing holders’ solid confidence.

On-chain transfer volumes are below $4 billion, far from the all-time high of over $13 billion.

Notably, Bitcoin’s price liquidity is typically low in realized terms, possibly because many investors are breaking even at the current Bitcoin price.

The price reflects historically oversold levels, with only 9% of unrealized profit left in the market.

The May 2021 Bitcoin price drop, from $56,000 to $29,000, prompted many traders to buy Bitcoin.

Although these buyers are now at a loss, their wealth has still grown relative to others.

Their conviction, tested through multiple Bitcoin cycles, has allowed them to increase their wealth ratio as weaker hands leave the market.

Fears remain about how a potential U.S. debt default could impact Bitcoin’s price.

However, while Bitcoin’s price often reflects the broader market, Bitcoin has outperformed stocks during the U.S. regional bank crisis.

Despite facing numerous challenges, the cryptocurrency market continues to offer investors significant opportunities for growth.

For those seeking to invest, some of the best cryptos to buy now include RNDR, COPIUM, TRX, AI, APE, SPONGE, and ECOTERRA, as they demonstrate strong fundamentals and/or favorable technical analysis.

Render Token (RNDR)

Following a recent surge to a new year-to-date high, RNDR has encountered selling pressure and closed with a modest gain yesterday.

RNDR has been on a bullish run of late, hitting a new year-to-date high before pulling back slightly.

With the 20-day EMA at $2.130, the 50-day EMA at $1.925, and the 100-day EMA at $1.671, all below the current price, the alignment of EMAs below the current price often signals a healthy bullish trend.

The RSI has slightly decreased from 65.08 to 64.80, still in the bullish territory above 50, but a continued decline could suggest weakening momentum.

The MACD histogram shows a negligible increase from 0.048 to 0.050, indicating that the bullish momentum might be slowing down as the MACD line and the signal line are possibly converging.

Despite the recent surge, the volume dropped significantly from 45.373 million to 18.427 million, below the volume moving average of 19.595 million, which may suggest a lack of conviction in the recent rally and could possibly precede a price reversal.

Looking at immediate price levels, RNDR faces significant resistance at its YTD high of $2.95, just below the psychological barrier of $3.

On the downside, the Fib 0.786 level at $2.312 is the immediate potential support level that could provide some buffer against potential selling pressure.

While the token’s EMAs suggest a healthy bullish trend, momentum indicators and trading volumes indicate potential consolidation or a slight downturn.

Traders should exercise caution and pay attention to significant support and resistance levels, as well as practice responsible risk management when trading RNDR.

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$COPIUM to Burn 30% of Tokens, Fueling Frenzy Among Crypto Investors

Meme coin $COPIUM announced plans to burn 30% of its token pool, a move expected to propel the token’s price and capture the attention of digital asset investors across the globe.

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This meme coin has experienced an upward surge of 80% in its price post-establishing its price stability around the $0.0030 range.

With a total supply of 1 billion, this action would result in the decimation of 300 million tokens.

Revealed on their Twitter handle this past Saturday, the announcement stimulated an uptick in price.

Based on insider whispers within the community, the coin burn is likely to commence later this week.

This news has already gained traction among prominent crypto vloggers, who predict a potential surge in the $COPIUM price.

Simultaneous with the token burn, the team also plans to lock the liquidity pool. This measure seeks to increase the $COPIUM token’s allure, attracting cryptocurrency enthusiasts ahead of the token-burning event.

$COPIUM currently records 2,500 token holders, a figure that exhibits a continuous upswing.

The coin is available on several centralized exchanges like AscendEx, LBank, Poloniex, MEXC Global, and Bitkan.

Decentralized exchange Uniswap and data-centric trading platform Dextools feature this meme coin regularly.

The $COPIUM’s launch on Uniswap on May 18th received backing from influential figures in the crypto trading sphere, bolstering the coin’s position in the market.

Despite its meme coin status, $COPIUM exhibits more than a humorous, community-centered ethos. It also offers NFT reward airdrops, giveaways, and exclusive events, adding to its appeal.

As the $COPIUM market cap hovers at $5.72 million, bullish speculators anticipate breaching the $10 million mark.

Although it’s only been four days since its launch, the coin offers an enticing prospect for inclusion in crypto portfolios as a meme coin allocation.

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Tron (TRX)

As the overall cryptocurrency market shows modest fluctuations, Tron (TRX), is defying the odds with a series of green candlestick patterns.

Despite the apparent stagnation in market volatility, TRON is charting an uptrend, seeing its fourth consecutive day of positive price action.

The coin set a new YTD high of $0.07420 earlier today, raising speculations about it heading toward an unprecedented level unseen since June 2022.

Looking at the technical indicators, a strong bullish sentiment surrounds TRON.

The 20-day EMA stands at $0.07090, the 50-day EMA at $0.06868, and the 100-day EMA at $0.06673.

The current price of $0.07837 sits comfortably above all the EMAs, which paints an encouraging picture for TRON investors.

EMAs often serve as crucial support levels, and TRON’s consistent performance above these levels confirms the robustness of its uptrend.

The RSI is currently at 78.76, up from yesterday’s 72.67. It suggests that buying pressure is intensifying, reflecting increased trader interest.

However, an RSI nearing 80 can also indicate overbought conditions, hence, caution must be exercised as there may be a potential price correction in the near term.

The MACD histogram stands at 0.00069, showing a bullish divergence from yesterday’s 0.00037.

This divergence suggests that the bullish momentum of TRON is strengthening, with buyers outpacing sellers in the market.

CoinMarketCap’s data shows that TRON’s 24-hour trading volume has risen by an impressive 21.51% to $404,530,618.

This surge in volume is significant, corroborating the bullishness perceived through other indicators.

Increased trading volume usually indicates investor confidence and can be a precursor to a price rally.

Looking ahead, traders should keep a close eye on the next resistance levels at $0.08169 to $0.08272.

If TRX can break through these levels convincingly, we could see a continuation of this upward trend, perhaps revisiting levels not seen since June of last year.

However, if TRX fails to break through this resistance, it may retrace towards the Fib 0.246 retracement level at $0.07647, which serves as immediate support.

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AiDoge’s Meme-To-Earn Initiative: One of the Best Cryptos to Buy Now

AiDoge is pioneering a new type of meme coin, offering robust functionality beyond Dogecoin, Shiba Inu, and Pepe.

AiDoge’s presale recently crossed $11.8 million, demonstrating the perfect timing to leverage the meme coin frenzy.

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Successfully crossing the $11.7 million threshold, the presale stepped into stage 17, adjusting the price of AiDoge’s proprietary crypto token, $AI, to $0.0000324.

As the presale nears its $14.9 million hard cap, the increasing number of backers shows rising interest from crypto buyers to get the tokens at current prices.

The $AI token will be the native currency within AiDoge and will support three main applications.

The token will be able to purchase credits for creating memes via the platform’s AI tech, be staked for earning daily rewards and perks, and be utilized to vote for memes and produce popular content.

The $AI token is built on the Arbitrum network, a layer-2 Ethereum scaling solution, assuring speedy transactions and nominal gas fees.

AiDoge’s execution of its roadmap in the coming months could enable a $3.36 billion market capitalization, provided the crypto market rebounds and the bull market persists.

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Ape Coin (APE)

ApeCoin (APE) has been on the rise in recent days, but the coin’s technical data suggests that it could be approaching a turning point.

APE has demonstrated resilience in its ascent to its current level of $3.433, but resistance at the Fib 0.382 level, in confluence with the 20-day EMA, is seen as a major price level for the cryptocurrency.

The 20-day EMA currently stands at $3.506, marginally below the immediate resistance level.

This price region marks a critical zone for APE, and the crypto’s recent rejection from this point offers a hint of bearish sentiment.

If buyers can assert their dominance and breach this level, it could pave the way for a rally towards the next barrier, the 50-day EMA at $3.796.

However, the downside risk cannot be ignored. The RSI has slipped from 41.69 to 39.97.

This suggests weakening bullish momentum and hints at an increasing bearish sentiment.

If the RSI continues its descent, it could push APE into oversold territory, potentially triggering a sell-off.

Confirming this bearish bias is the MACD histogram, which sits at 0.036, only slightly up from yesterday’s 0.035.

The MACD, a trend-following momentum indicator, is currently conveying a weak bullish sentiment.

This sluggish momentum could lead to APE’s price being suppressed further if the bulls don’t take charge soon.

With APE’s price down by 0.89% so far today, the immediate support to watch lies at the Fib 0.246 level at $3.354.

This could prove to be a vital cushion for APE if the bearish momentum continues.

If bullish momentum returns and APE can push through its immediate resistance at $3.509, we could see a surge toward the 50-day EMA.

However, if bearish forces prevail and the price dips below the Fib 0.246 level, a deeper correction may be in the offing.

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Unleashing the Sponge Mania: $SPONGE Token Gains Popularity

Just when you thought meme coins were yesterday’s news, a new contender came from the depths. $SPONGE has been seeing a rapid rise in its price since launching earlier this month.

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Traders looking to ride the hype have been jumping on this new trend, hoping $SPONGE would soak up their investments and multiply them.

Despite being a meme coin, $SPONGE is more than just that. It stands out due to its potential for growth and the cultural relevance of the globally recognized Sponge character.

Launched on May 4, $SPONGE has already demonstrated extraordinary growth.

Its total market cap has skyrocketed to $16.13 million, attracting interest from institutional and retail buyers alike.

As an ERC-20 token on the Ethereum network, $SPONGE is currently trading at $0.0003993.

While it retraced in price over the past day, $SPONGE continues to generate substantial trading volume, signaling its resilience and potential.

Despite the decline, its 24-hour trading volume is an impressive $7.38 million.

The maximum supply of $SPONGE is 40.4 billion coins. This relative scarcity adds appeal for investors and could further increase demand.

As $SPONGE continues gaining attention, it will be interesting to see how this entertaining token navigates the volatile meme coin market.

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Invest in a Greener Future: ecoterra Is One of the Best Cryptos to Buy Now

An ambitious startup is using cryptocurrency to tackle one of the biggest issues facing our world today: climate change.

ecoterra is developing a system that rewards users for recycling to transform behaviors and habits.

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Having already raised over $4.19 million in presale funding so far, ecoterra is seeking to raise $6.7 million to launch its platform and accelerate the transition to sustainability.

In the second half of this year, ecoterra will debut a unique smartphone application in the cryptocurrency market.

This project aligns its business strategies with addressing climate change by transforming the act of recycling into a profitable endeavor.

ecoterra’s primary offering is its Recycle2Earn app. The platform bridges the gap between environmental needs and profit generation by focusing on recycled materials, carbon offset marketplaces, and tracking green actions.

The platform will use a liquidity pool to manage token liquidity once fully operational.

ecoterra is reaching out to companies to adopt and benefit from its ecosystem.

CEO Mihai Ciutureanu is excited about the potential of the recycled materials marketplace, which will connect businesses seeking recycled materials with recycling companies that can provide them. This is an effective solution to environmental damage.

As ecoterra works to increase business adoption, major brands like Vittel, Heineken, San Pellegrino, Pepsi, Fanta, Peroni, and Dr. Pepper are being incorporated into its ecosystem by offering rewards for recycling their products.

NFTs representing impactful accomplishments are another notable part of ecoterra’s ecosystem.

By turning environmentally friendly actions into tradable commodities, ecoterra hopes that this feature will motivate people globally to protect the planet.

According to ecoterra’s timeline, crypto exchange listings are planned for the third quarter of 2023. 

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