The US dollar is showing weakness amid macroeconomic concerns due to US tariffs and China’s retaliation. The crypto market has also been shaken as investors steer clear of risk assets. Amid this turbulence, three altcoins have stood out with their solid fundamentals and bullish catalysts and could easily see traders turn $1K to $1250K. These altcoins are also viewed as a good hedge against currency devaluation.
US Dollar Index Hits 3-Year Low Amid Economic Turbulence
The US dollar index, which measures the strength of the greenback against other major currencies dropped below 100 for the first time in nearly three years. At press time, this index stood at 100.03.
The currency is being affected by the ongoing trade war between China and the US, with investors expressing concerns about the implications of the looming collapse of the dollar to the global financial markets.
Analysts who spoke to Reuters reported that the US dollar had lost its status as a safe haven within a short time. He added,
“The whole premise of the dollar as a reserve currency is being challenged, effectively, by what we’ve seen since Trump’s election.”
Amid these growing concerns, the altcoins that traders can buy for 250x gains and turn $1K to $250K include Ethereum (ETH), Ripple (XRP), and Dogecoin (DOGE).
Altcoins to Turn $1K to $250K If US Dollar Collapses
The best altcoins to watch as the US dollar struggles against its global counterparts are ETH, XRP, and DOGE.
Ethereum (ETH)
Ethereum is one of the top altcoins that can be used as a safe haven if the US dollar collapses. This is because investors might view it as an alternative to Bitcoin. Moreover, the launch of spot ETH ETFs last year has made Ethereum more accessible to investors.
In terms of fundamentals, ETH price is ranking at the top after dominating other networks in terms of dApp activity. Data from TokenTerminal shows that Ethereum had the highest dApp fees of $1.014 billion. It was followed by Base with $193M in fees. This dominance supports a bullish Ethereum price prediction.
In the lower four-hour timeframe, Ethereum price was showing some bullish signs that may see investors turn $1K to $250K. The altcoin’s RSI is rising and reached a neutral level of 49. Meanwhile, the AO histogram bars have flipped green suggesting that the downtrend is weakening. If ETH successfully defends support at $1,482, it will surge past $1,800 in the near term.
Ripple (XRP)
XRP is also one of the top altcoins to buy for traders looking to hedge against the risk of the US dollar. Ripple has some bullish catalysts that may boost its price recovery including the end of the end of the SEC case as well as strategic acquisitions by Ripple.
The four-hour chart also shows a bullish outlook on XRP price. The RSI is rising alongside the AO histogram bars, which also suggests that the upward momentum is building. If this continues, and Ripple flips resistance at $1.20, it will kickstart a strong upward move.
Dogecoin (DOGE)
Several factors make Dogecoin one of the top altcoins to buy as the US dollar shows signs of weakness. One of these factors is Dogecoin’s prominence among meme coins, which could see traders seek it as a hedge against inflation. Additionally, catalysts like the launch of spot DOGE ETFs could precede a bullish Dogecoin price forecast.
With only $1K, a trader can buy 5,555 DOGE hat could become $250K if DOGE soars by 250x from its current price of $0.15. Dogecoin price might make a strong rebound if the bullish trends demonstrated on the lower timeframe chart continue. The RSI is at 54 while the on-balance volume is rising, which shows a surge in buying pressure.
Summary of Top Altcoins to Turn $1K to $250K
The top altcoins to buy to hedge against currency devaluation and turn $1K to $250K include ETH, XRP, and DOGE. These altcoins have solid fundamentals and a bullish outlook that may cause an upswing.
The post Central Banks Hate This: 3 Altcoins To Turn $1K into $250K If US Dollar Collapses appeared first on CoinGape.
