These 5 altcoins are ready for a massive breakout

In recent weeks, the cryptocurrency market has been on edge, anticipating a possible altcoin breakout, with investors closely monitoring alternative coins that are likely to lead the rally. Indeed, altcoins have been vying for attention, attempting to steal the spotlight from Bitcoin (BTC), one of the best performers of 2023.

Timeline of Cosmos, Dogecoin, Fetch, Iotex, Litecoin

There is growing speculation that Litecoin (LTC), one of the legacy proof-of-work (PoW) protocols, will lead the market rally in the coming week per its forthcoming halving event. The halving, slated to hold Aug. 2, has been driving massive hype in the Litecoin community with a visible upside on the price of the asset.

Dogecoin (DOGE) is on the radar of many crypto investors lately, a feat it has used to its advantage. Per on-chain metrics showcased by crypto analytics platform IntoTheBlock (ITB), the total whale accumulation of Dogecoin jumped significantly in the week-to-date (WTD) period.

According to Messari, in Q2 2023, the Osmosis Protocol, a decentralized exchange (DEX) within the Cosmos ecosystem, experienced a decrease in volumes and users, each down over 25%.

Billy Markus, who created the famous Dogecoin, the original meme cryptocurrency and a parody on Bitcoin, together with Jackson Palmer, has taken to Twitter to share his surprise about discovering a computer game about "Shiba Inu Doge."

Elon Musk's favored Dogecoin (CRYPTO: DOGE) experienced a rise, briefly claiming the position of the world's eighth-largest cryptocurrency, before encountering an unexpected turn. What Happened: On Friday, Dogecoin, the meme-inspired digital currency, saw its value rise by more than 10% in a single day, reaching an impressive $0.076 per coin.

In the world of cryptocurrency, a well-known pseudonymous analyst called Altcoin Sherpa has recently made an exciting prediction for Dogecoin ($DOGE). The meme-inspired cryptocurrency could see its value surge by over 600%, according to Sherpa.

Dogecoin continues to cement itself as the largest meme coin by market cap, displaying signs of renewed enthusiasm every so often. This week, the meme-inspired cryptocurrency added over $1 billion to its market cap, making it the 8th-largest crypto.

Amid the indecisive sentiment in the crypto market, the Dogecoin price carries a silent recovery under the influence of two rising trendlines. However, these converging trendlines are part of a bearish continuation pattern called an inverted flag project, the popular memecoin would face a longer correction.

The Wormhole Foundation announced the introduction of a novel application-specific blockchain (appchain) into the Cosmos (CRYPTO: ATOM) ecosystem. In a recent blog post by Wormhole, the company revealed the newly launched blockchain, named Gateway, aims to simplify the process for developers and users to introduce tokens to any Cosmos chain.

Dogecoin was one of the standout gainers during a quiet session, as the meme coin raced to a multi-month high. Prices rose as traders continued to react to a recent tweet from Elon Musk. Another notable gainer was polkadot, which rose nearly 7% higher.