Welcome to this week’s analysis on which altcoins are performing well and which ones are not. You can view the list here:
There is a lot to cover in this week’s newsletter as we get closer to year end. I will likely take a break for the rest of the year and start the next newsletter on January 6. I even worked over this past weekend doing analysis to find “the best of the best” altcoins as a final stop to make any last minute allocations before the potential alt season kicks into gear next year. I would advise everyone to not try to trade in and out with every move and instead stick to a plan of when you want to take profits whether it’s around potential major tops or when certain profit targets are met. I’m personally not making any further allocation changes after this point.
Bitcoin Update
The December chop with Bitcoin continues. Based on my Bitcoin Seasonality Index, which factors in the past cycles, it is typical for us to see this choppy price action around this part of the cycle. The good news is this cycle shows us that there is a lot more upside to come. I am seeing two potential scenarios play out 1) Bitcoin falls to 85k and then continues its rally with new ATH in Q1 2025 or 2) we rally from here with new ATH in Q1 2025. Sit tight and don’t get shaken out by this short term price action.

Bitcoin Dominance Update
I am still seeing a lot of fear that altcoin season is cancelled. I would still be patient here. I made a slight adjustment to the chart by extending the trendline and here we have the weekly timeframe rejecting that and continuing lower for now. There is still the potential that this rallies here to form some type of double top around 61% before continuing lower as we saw in the last cycle.

OTHERS Dominance 2 Week Z-Scores
As an alternative way to look at Bitcoin Dominance which is inversely related to altcoin strength, I took a look at OTHERS Dominance which factors in the percent of the crypto market cap excluding the top 10 versus total crypto market cap. This essentially represents the strength of altcoin mid caps and small caps. When we plot this against some optimized parameters for z-scores on the 2-week timeframe along with this long term trendline, the data is showing the potential bottom is in and we have a lot more upside coming with altcoin strength.

Solana Update
The fear continues with Solana as it dropped to 175 this past week. I know I shared previously that this appeared to be forming a bull flag. Even with this drop, we see that this appears to be a retest of its previous bull flag breakout from November. I still think Solana goes higher from here and is a great buying opportunity and likely the last chance.

Even with this recent drop, this major support level for SOL/ETH is still intact. I’m expecting SOL to outperform ETH through next year.

Dogecoin Update
I’m seeing similar sentiment with Dogecoin that the end is near. As a follow-up from my chart on “DOGE Top Indicator – Bitcoin ATH & Positive MACD”, it looks like we closed now two consecutive weeks with dark blue so this indicator now has an inconsistency versus past cycles. I will look to see what other optimizations can be made. This is why we look at multiple indicators and not solely rely on one for analysis.

I have some new indicators I developed for DOGE in identifying the cycle tops and bottoms. The first one we have is called “Dogecoin MVRV Z-Scores Weekly” and this model suggests the first top is still not in.

The next indicator I have is called “Dogecoin Z-Scores Weekly” and this model suggests the first top is still not in.

Large Caps
For large caps, here’s the ones that stand out on a long term timeframe:
- Sui
- Dogecoin
- XRP
- Stellar
- Hedera
Even with this broader market pullback, Sui keeps bouncing back and showing considerable strength. It outperforms Solana in the last 180 days by 256% and in the last 365 days by 278%.
Dogecoin recently fell below 0.40 and is currently at 0.31. This is still a good buy and this recent pullback of 45% is similar to what happened in December 2020 where Dogecoin fell 55% before rallying higher. Even if Dogecoin falls to 0.20-0.22, I would still buy more.
The remaining coins are XRP, Stellar and Hedera which as I mentioned in previous newsletters, I would not advise buying.
Here’s the ones that stand out on a short term timeframe:
- Hedera
- Stellar
- XRP
- Chainlink
XRP, Stellar, Hedera and Chainlink make the short term list also but again I’m cautious on these for the reasons mentioned in previous newsletters.
To avoid repeating myself, I am not planning to cover these coins any further as the chances of them outperforming other coins we have in the portfolio is very low.
Model Portfolio Update
The model portfolio is still up 40% despite this recent market correction.

Based on the extensive outperformance comparison, we are selling Shiba Inu and reallocating the proceeds into Sui and Pepe.
To see the detailed analysis on this as well as the updated portfolio, sign up and become a pro today and gain an edge in the crypto market.
Not financial advice. Please consult a financial advisor before making any investment decisions.
