Best Crypto to Buy Now October 7 – Mog Coin, Sui, Dogwifhat
Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...
Major cryptocurrencies have started the week on the front foot, with Bitcoin (BTC) pushing up 1.5% to the mid-$63,000s, but investors are turning to meme coins as they hunt for the best crypto to buy now.
Geopolitical risks could yet hurt market sentiment, with Israel expected to strike back against Iran in the coming days.
Certainly, these risks appear to have dampened sentiment in the US equity market, with the S&P 500 down 0.5% on Monday.
Other factors to consider include upcoming US Consumer Price Index (CPI) inflation data later this week.
Last week’s stronger-than-expected US labor market report dampened hopes for further 50bps rate cuts from the Fed next month.
That could also be weighing on sentiment, though the macro backdrop will likely remain a tailwind for crypto this year if the narrative is for a goldilocks combination of Fed interest rate easing at a time of continued US economic growth.
So long as geopolitics don’t spoil the party, “uptober” could be just around the corner.
At least, that’s what meme coin traders appear to be betting on.
It's a memecoin season. I feel bullish on memes. pic.twitter.com/1qPYufnPOs
Here are some of the biggest movers on Monday that might be the best crypto to buy now.
Ethereum-based cat-themed meme coin Mog Coin (MOG) is leading the market higher on Monday, with a 20% gain in the past 24 hours, according to CoinMarketCap.
MOG appears to have very strong momentum right now – it’s substantially above its 200 and 50DMAs and in an upward trend channel.
A rally to fresh record highs in
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