As we step into November 2024, DePIN (Decentralized Physical Infrastructure Network) projects, where the real world and digital assets intersect, are attracting investors’ attention. These projects bring a whole new perspective to the crypto world by offering solutions not only on blockchain but also in the physical world. Here are 5 DePIN altcoin projects to follow this month!
Top Altcoin on the List: Bittensor (TAO)
At the top of the list is Bittensor, which combines machine learning with blockchain . TAO, which has fallen by 15% in the last month, is currently trading at $ 510.86. This decline is also well below the $ 800 level the price reached at the beginning of the year, but it has the potential to recover and is considered an opportunity for investors.
On the daily chart, the altcoin is trading below the 20-day EMA and just above the 50-day EMA. As long as it doesn’t fall below the 50 EMA, there’s a strong possibility that TAO could rally towards $681.85 in November . However, if the support level is broken, there’s also a chance that the price could drop to $397.32.
Filecoin (FIL) is Second on the List
Filecoin (FIL) , a pioneer in storage solutions , is another DePIN altcoin that has been drawing attention this month. FIL has been trading in the $3 to $4 range for the past 30 days, finding buyers at a considerably lower price compared to yearly highs. Therefore, its potential for recovery is attracting investors’ attention.
The altcoin, which rose 10% in late October, could rise to $4.29 if it can break the $3.85 resistance. However, if the bulls fail to push the price higher, there is a high possibility that FIL could drop to $3.41.
Altcoin 3rd on the List: JasmyCoin (JASMY)
IoT-based JasmyCoin (JASMY) is one of the prominent DePIN projects. Trading at $0.019, JASMY is in a falling wedge formation. If it breaks out of this formation, it has the potential to rise to $0.034.
This increase expectation depends on the $0.020 level being broken. If this resistance is not overcome, the price will pull back to $0.016. In addition, altcoin movements should be followed carefully by investors throughout November.
Livepeer (LPT) is in the 4th place of the list
Live streaming protocol Livepeer (LPT) is attracting investors’ attention, particularly due to its backing from Grayscale Trust. Although LPT’s price has declined by 25% in the last 30 days, its current support level of $10.68 provides a positive backdrop for the rally.
If this level is maintained, LPT is likely to break the $11.84 resistance and rise towards $13.27. However, it should also be noted that LPT could fall to $9.96 if buying interest wanes.
Last Altcoin on the List: Grass (GRASS)
Last on the list is Grass (GRASS) , which was launched last week . Despite some disruptions in the airdrop process, interest in the project remains strong. Grass is currently in the price discovery phase, so it will likely show a volatile performance in November.
Grass is likely to retest the $1 level. Also, if it rises above this resistance, the price may advance to $2. However, if there is intense selling pressure, these expectations will lose their validity. As we reported at Kriptokoin.com, altcoin markets are volatile and carry risks. It is important for investors to calculate the risks by doing their own analysis.
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