Best Crypto to Buy Today, May 2 – Pepe, dogwifhat, Optimism

Simon Chandler

Last updated:

May 2, 2024 10:19 EDT

| 4 min read

As the market recovers by 2.5% in the past 24 hours, we run through the best crypto to buy today, covering Pepe (PEPE), dogwifhat (WIF) and Optimism (OP).

All three of these coins have outperformed the market as a whole, which has rebounded today after a very disappointing start to the week.

Its losses stemmed in part from negativity surrounding the possibility that the Federal Reserve would hold rates as they are or even raise them, largely because inflation still remains relatively high.

However, the Fed kept rates unchanged in its FOMC meeting yesterday, and it counteracted any negativity by also announcing that it would reduce the speed and severity of its recent quantitative tightening program.

This came as a relief to markets, with the three cryptos featured below all benefiting more than most others.

Best Crypto to Buy Today, May 2.

Pepe (PEPE).

PEPE has rallied by an impressive 18% in the past 24 hours, reaching $0.057446 and easily cementing its position as one of the best cryptos to buy today.

This price means it’s also up by 50% in a fortnight and by 520% in a year, with the meme token remaining highly popular among whales as a vehicle for profit.

In fact, data suggests that a whale has recently accumulated a large quantity of PEPE, having withdrawn more than $2 million in the token from Binance in the past 24 hours.

Combined with PEPE’s bullish indicators, this would suggest that the token has more gains in store in the near term.

Assuming the market as a whole continues to recover, it could reach $0.0000080 within a week, and potentially $0.000010 in a month or so.

dogwifhat (WIF).

WIF has jumped by 15% today, with its move to $2.76, which also represents a 12% gain in a fortnight.

That said, the popular Solana meme token remains down by 28% in a month, while it’s also down by 43% in relation to its all-time high of $4,83, set in late March.

Such declines have given WIF’s chart quite a bearish appearance, even with the gains of the past couple of days.

However, we are about to see the coin’s 30-day average (orange) overtake its 200-day (blue), providing a bullish reversal that could signal a period of sustained recovery.

Indeed, its RSI (purple) has just hit 70 after spending around a week near or...

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