While the cryptocurrency market is showing signs of recovery, 5 altcoins offer excellent investment opportunities in August, according to Rudy Fares, one of the CryptoTicker analysts.

Shib

The Shiba Inu (SHIB) fell sharply due to the market crashes. According to the analyst, meme coins tend to be quite volatile. They depreciate greatly in bear markets, but reach new highs in bull markets with price spikes. Stating that the SHIB price is cheap, the analyst believes that the meme coin will gain value again thanks to huge burns, projects and partnerships.

avax-1

The second altcoin on the analyst's list is Avalanche (AVAX). The altcoin hit its lowest level at $15 due to the market crash. However, after this process, AVAX started a new uptrend. Breaking the resistance level at $21, AVAX gave hope for a new uptrend. According to the analyst, AVAX is one of the altcoins that can surprise in August.

polygon-2

The third altcoin on the analyst's list is Polygon (MATIC). Polygon recorded substantial value in July. Any positive development in the Ethereum ecosystem definitely affects Polygon as well. Polygon is a project built on top of Ethereum as a sidechain. It helps the second scale and makes the network more efficient. However, MATIC is also expected to attract more attention when it moves to a proof-of-stake system with Ethereum Merge. The speed of transactions at Polygon attracts many institutions and investors to the system. The analyst expects some correction in MATIC in the short term, but MATIC will continue to record value and may reach $2.

XRP-4

The fourth altcoin on the analyst's list is Ripple (XRP). XRP, which has been hit hard by the SEC lawsuit, is probably one of the cryptocurrencies that is far from its all-time high. Ripple is still battling the SEC lawsuit. However, as new important developments emerge, it is said that the company may win the case. This gives hope for a clearer solution towards Q4. Meanwhile, XRP is recovering after a brief consolidation. According to the analyst, XRP may gain momentum with new victories in this process.

Cardano ADA-5

The last altcoin on the analyst's list is Cardano (ADA). Despite the activity in the ecosystem, Cardano is one of the projects that remain in place. Ethereum recently made an update and its price went up. Cardano, on the other hand, delayed the Vasil update for a few more weeks for testing purposes. ADA prices still haven't recorded as much value as they should have. Therefore, it presents a great buying opportunity.