Can These Cryptos Repeat Their 2024 Performance? | Credit: Hameem Sarwar
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Key Takeaways
MANTRA (OM) has increased by over 6,300% this year.
PEPE and dogwifhat (WIF) are in 2nd and 3rd places.
How will these three cryptos perform next year?
OM,PEPE, and WIF are the three cryptocurrencies that have increased the most in 2024. While WIF reached its all-time high in March, PEPE and OM did so in December.
Can these three cryptos repeat their 2024 performance next year? Let’s look at the price action and find out.
OM (black) has emerged as the standout crypto asset of 2024, soaring 6,300% since January to hit a record high of $4.63 on Dec. 11.
Trailing behind are PEPE (red) and WIF (purple), ranking second and third with gains exceeding 1,000%. WIF initially led the year’s rally but peaked in March, retracing since then.
OM, by contrast, accelerated sharply in November, breaking out of an ascending parallel channel and reaching new highs in December.
The weekly OM price chart highlights an extended third wave of its upward movement, which began in late 2023. Technical analysis suggests OM is now in the fifth and final wave.
This conclusion is supported by a bearish divergence in the weekly Relative Strength Index (RSI), signaling that the current rally may be nearing its end.
WIF’s weekly chart points to a bearish outlook, with the price retracing steadily after peaking at an all-time high of $4.86 in March.
Despite a brief recovery in November, the lower high (black circle) indicates the move was likely part of wave B in an A-B-C corrective pattern.
If this analysis holds, WIF is now in wave C of the correction. Projections based on equal lengths for waves A and C suggest the price could drop to $1.05.
Technical indicators align with this bearish perspective. The weekly Relative Strength Index (RSI) has fallen below 50, reinforcing the likelihood of continued downward momentum. A 40% decline from current levels would complete the corrective phase.
PEPE Price Top?
The long-term wave count suggests that PEPE’s upward movement starting in May 2023 has ended. PEPE has finished a five-wave increase that led to the December all-time high of $0.0000283.
PEPE created the high just above wave four’s 1.61 external Fibonacci retracement. This is an area that often acts as the top.
A bearish divergence in the weekly RSI also indicates that the upward movement may be over.
Similarly to OM, the PEPE price may create a slightly higher high, reaching the next target at $0.0000308. However, the upward movement will almost definitely end in 2025, leading to a lengthy correction.
Bearish 2025
Although OM, PEPE, and WIF are the three biggest crypto gainers in 2024, all three have reached or are close to reaching their cycle highs. Therefore, 2025 may not be as positive for them as 2024.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
