Solana Falls 10% as Bears Fear $150 Crash: Best Altcoins to Buy Instead

Solana’s price crashed to $155 today, marking a three-month low for the Layer 1 crypto. The move comes as a surprise despite the latest market-wide dip, as the asset’s newly launched Bitwise ETF has posted strong inflows and fueled one of the strongest weeks for Solana-based exchange-traded products (ETPs) on record.

SOL tumbled 10% in the last 24 hours and 22% over the past seven days, falling from a high of $205 last Monday. This marks a decisive underperformance compared to other large-cap cryptos like Bitcoin, Ethereum, and BNB, which are down 9%, 15%, and 16%, respectively.

So, with relative weakness and a lack of local support levels to hold up its price, bears fear that SOL’s current leg down could extend to $150. But while Solana struggles, investors have seized the opportunity to rotate into other plays that could defy the bearish momentum and deliver gains in the weeks ahead. 

Let’s look at three of the best altcoins that could outperform SOL in the near future. We’ll not only consider use cases, but also how these altcoins are protected from current adverse market conditions and continue to show strength – therefore indicating strong potential if a broader market rebound occurs.

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SOL Declines Despite Explosive ETP Week – $150 or Lower Next?

Bitwise’s Solana ETF experienced a solid first week, drawing $197 million in inflows. This contributed to the asset’s second-strongest weekly performance in its ETPs’ history, with $421 million in total net inflows, according to CoinShares.

And yet, looking at Solana’s price action, you certainly wouldn’t know it. Currently trading at $160, Solana briefly hit a low of $155.85 earlier today. CoinGlass data shows the asset experienced an additional $151 million in spot outflows over the past 24 hours, bringing total outflows over the past 30 days to $2.52 billion.

However, the biggest blow to Solana’s price is long liquidations, which have wiped out $156 million over the past 24 hours. In comparison, only $28 million of XRP longs were liquidated, and $18 million of BNB. 

As a result, bears are fearful of further near-term downside, with the analyst Viperr forecasting a move below $150 (and potentially toward $140) before any kind of real structural recovery can occur.

The broader market mood has shifted. Solana’s 22% weekly selloff, while disproportionate, represents a major loss of confidence among retail investors. Many traders are derisking and moving money to the sidelines, leading to a flushout of risk-on leverage positions. 

However, during periods of heightened market volatility, opportunities arise to scoop up promising tokens at bargain valuations. If the current downturn proves to be temporary and the bull market resumes shortly, those who position well now might have opportunities for huge gains as the rebound unfolds. With that in mind, here are three altcoins to consider adding to your portfolio on the dip:

1. Bitcoin Hyper (HYPER)

One of the smartest things investors can do in volatile periods is look for truly undervalued gems with long-term potential. Not only do such tokens retain value better during downturns, but their upside prospects on the rebound are disproportionately higher.

In that regard, Bitcoin Hyper (HYPER) could prove to be the best altcoin to buy now. It’s building the world’s fastest smart contract-enabled Bitcoin Layer 2 blockchain to address Bitcoin’s speed limitations and open the network to new use cases such as DeFi, stablecoins, RWAs, meme coins, and more.

Currently undergoing a presale, investors can buy HYPER at an incrementally increasing rate, which is why it’s continuing to prove popular despite market turbulence. So far, the HYPER presale has raised over $25.7 million, showing massive community support. 

Right now, investors can buy HYPER at $0.013215 (and stake it for a 46% APY), but this price will increase with each new presale round – and the next one begins later today.

2. Zcash (ZEC)

Another key consideration when investing amid a market dip is identifying outperformers, as their relative strength reflects investor confidence, ecosystem robustness, and the potential to continue generating substantial gains on the rebound.

When it comes to top performers, there’s nothing that really comes close to Zcash (ZEC) right now, a privacy-focused cryptocurrency that has exploded 21% in the last 24 hours. This comes amid a wider surge in the privacy coin meta, with the sector’s total market cap rising by 14%, while the total crypto market cap is down 4.2%.

Besides the obvious benefits of privacy coins, such as protection against bad actors and surveillance, a major driver of Zcash’s current momentum is a surge in ecosystem development. The network’s native wallet recently gained praise from BitMex CEO Arthur Hayes – and on-chain activity is increasing, with over 28% of ZEC tokens now in “shielded supply,” representing growing trust in the ecosystem.

3. PEPENODE (PEPENODE)

When the 2022-2023 bear market occurred, one of the first altcoins to explode was Pepe. It went from an unknown frog-themed joke token to a $1.8 billion titan with a Binance listing within two weeks of launching.

While market dynamics have changed since then, a new Pepe-themed project is generating serious traction in an environment that also presents challenges. It’s called PEPENODE (PEPENODE), and it’s building a Mine-to-Earn meme coin.

It’s a setup that combines the fun of a meme coin with the reward-fueled utility of Play-to-Earn, ushering in a full GameFi ecosystem where users run their own virtual crypto-mining operations to generate PEPENODE rewards. There will also be rewards paid in PEPE and FARTCOIN tokens, potentially helping boost the project’s appeal. 70% of tokens spent within the in-game store will be burned, creating deflationary pressure and potential for heightened long-term growth.

PEPENODE is also moving through its own presale, where it has raised $2 million to date, marking solid investor support given the current circumstances. With all this in mind, PEPENODE certainly appears to be one of the most promising tokens to buy on the current dip. PEPENODE tokens are priced at $0.0011317, while staking options offer a high 629% APY.