April was a month with Bitcoin price starting at $45,538 and ending at $37,714. Total market cap started the month at $2.09 trillion, but fell 17.34 percent to $1.73 trillion at the end of the month. However, given the major events lined up for this month, one analyst Temitope Akintade has listed 3 altcoin projects including Dogecoin (DOGE) that can be invested in May.
The first altcoin on the analyst’s list: Dogecoin
As we reported on Kriptokoin.com, Elon Musk’s favorite Dogecoin gained momentum with the Tesla CEO taking Twitter. Dogecoin rose to 17 cents after Twitter announced that it had agreed to sell the platform to Musk, but later returned to 13 cents. With Musk fully taking over Twitter this month, the plan to launch subscriptions on the site means Dogecoin could become a payment option for Twitter users.
Recent data shows whale transactions hit a four-month high for Dogecoin. Clearly, big investors are betting on the digital currency with Musk’s backing. As long as Musk is the unofficial CEO of the meme coin and supports Dogecoin, the analyst expects a rise in value in May as a result of the Twitter deal.
Expected momentum for Solana as well
The reason SOL is listed for May is because in the last days of April 7 Blockchain infrastructure firms added support for Pyth Network, an Oracle service on Solana Blockchain. is showing. The reason investors are interested in this development is because it has to do with the evolution of decentralized finance (DeFi). Pyth Network collects off-chain data from more than 50 financial publishers across a wide cross-section of the financial industry.
The last altcoin on the list: KAVA
KAVA is a decentralized finance (DeFi) platform for lending. Besides lending, it allows users to invest and earn. The platform also supports interactions between different chains. The native token KAVA is used to secure the platform. KAVA Network 1.0 Mainnet Launch begins on May 10. This will be the full launch of Kava Network. It will allow developers to build in the Cosmos and Ethereum ecosystem with seamless interoperability. Finally, liquid staking will be implemented in the network until the end of the month.
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