Best Crypto to Buy Now as Ethereum Surges Past $4,600 to Target ATH: $SUI, $ADA, $DOGE

The global cryptocurrency market rose 3.33% in the last 24 hours to surpass $4 trillion in market cap, extending its 9.8% weekly gains. The ongoing rally is primarily driven by Ethereum (ETH) surging to $4,626, nearing its all-time high levels from 2021. The tokens that benefited the most from the broader market rebound are Sui (SUI), Cardano (ADA), and Dogecoin (DOGE), which have emerged as the best crypto to buy now.

Today’s main bullish catalyst was ETH’s price growing by 7% in 24 hours, as spot Ether exchange-traded funds (ETFs) recorded $523 million in inflows on August 12. Corporate treasury buying also intensified, with SharpLink Gaming, BitMine, and ETHZilla now collectively holding more than $5 billion worth of ETH under their balance sheets.

This institutional demand has lifted Ethereum’s market cap above Netflix and Mastercard, with derivatives open interest (OI) reaching $12.1 billion, its highest level since March 2024.

Palantir and PayPal co-founder Peter Thiel has increased his stake in ETHZilla to 7.5%, signalling confidence in Ethereum‘s institutional use cases. Growing corporate treasury allocations have validated the asset class while reducing sell pressure from retail-dominated markets. Traders are closely monitoring whether Ether can hold above $4,500, a key psychological level.

As per today’s CMC Altcoin Season Index reading of 40/100, altcoins are starting to outperform BTC. While the market is still in Bitcoin Season territory, the momentum is starting to shift. BTC dominance is currently at its lowest level since June 2025, down 1.4% weekly to 58.5%, with the Ethereum, Solana (SOL), and Binance Smart Chain (BSC) ecosystems driving capital rotation.

Which Crypto To Buy Now (08/14) For Long-Term Gains?

Best Crypto to Buy Now as Altcoins Start to Outperform Bitcoin

Altcoins are beginning to edge ahead of Bitcoin in recent market moves, drawing attention to a handful of promising picks.
Here’s a look at some of the best crypto to buy now as this trend unfolds.

1. Sui (SUI)

Source: TradingView

Sui (SUI) rose 11.45% in the last 25 hours, outperforming both its 7-day and 30-day trends. Key drivers behind the rally include momentum from institutional adoption, major short squeezes, and technical breakout signals.

On August 12, Grayscale launched two new SUI-focused investment trusts backed by DeepBook Protocol (DEEP) and Walrus (WAL). This comes a year after the digital asset manager launched the Grayscale Sui Trust fund, triggering a 44% price rally at the time. Simultaneously, Swiss bank Sygnum is now offering SUI custody and trading services for institutional clients.

This signals growing institutional validation of the Sui ecosystem, as Grayscale’s products allow accredited investors to gain exposure to SUI without direct ownership, while Sygnum’s services reduce custody barriers, further expanding its market demand.

Crypto fund Abraxas Capital has suffered $244 million in unrealized losses on its SUI short positions, creating a short squeeze that amplified the price rally. Forced liquidations of underwater shorts typically create reflexive buying pressure for a token. SUI’s weekly funding rate is up 70%, indicating leveraged longs are squeezing short bets.

SUI reclaimed the $3.90-$4.00 resistance, a zone that has been capping prices since May 2025. Its MACD histogram turned positive, while the 14-day RSI held at 55, avoiding overbought signals despite the price surge. The move has triggered algorithmic buying from traders tracking SUI’s 200-day SMA at $3.14 and Fibonacci retracement levels.

Prominent analysts are now eyeing a target between $5 and $10 if SUI can hold above $4.20. A close above the 23.6% Fib of $4.16, its 2025 swing high/low, could confirm a bullish continuation, with progress on potential ETFs and the TVL on Sui-native DeFi growing to $2.65 billion supporting longer-term upside.

At the time of writing, Sui (SUI) is trading at $4.02, up 11.08% in the last 24 hours. According to technical analysis based on the current price, in 2025, Sui is expected to change hands in a trading channel between $2.69 (Low) and $3.94 (High), with an average annualized price of $2.99. This could result in a potential ROI of -2.02% compared to the current rates.

2.  Cardano (ADA)

Source: TradingView

Cardano’s (ADA) price rose 12.93% over the last 24 hours, outpacing the broader crypto market’s 3.9% gain in the same period. Its bullish momentum was driven by Grayscale filing a spot ADA ETF registration, the altcoin rally driven by ETH, and a positive technical breakout that helped the coin clear key resistance levels.

On August 13, Grayscale registered the Grayscale Cardano Trust ETF in Delaware, signalling the company’s intent to pursue an exchange-traded product (ETP) based on ADA. While an SEC approval isn’t guaranteed, the move mirrors Grayscale’s pre-ETF strategy for its Bitcoin (GBTC) and Ethereum (ETHE) funds. Spot ETFs enable institutional traders to participate in the crypto market without direct ownership of the underlying asset, driving demand.

Since Cardano lacks a regulated investment vehicle, even an ETF speculation could boost market sentiment. ADA’s 24-hour trading volume surged 102.8% to $2.47 billion, reflecting heightened trading activity post the ETF update. Traders are watching out for the SEC’s response timeline and updates from Grayscale’s Form S-1 filing.

Ethereum’s 8.5% rally brought it ever closer to the November 2021 ATH of $4,891, and the $500 million worth of ETF inflows on Tuesday have lifted the altcoin market. ADA’s 24-hour gains during that period aligned with those of SOL (+12%), DOGE (+8%), and LINK (+13%).

ADA stands to benefit from risk-on rotations when ETH takes the mantle from BTC, but its 20.39% weekly gain versus ETH’s 30.5% suggests that it is playing catch-up. The Altcoin Season Index rose 17.65% over the past day, signaling increased capital flow from Bitcoin into alts.

However, Cardano’s 0.76 market dominance remains flat, indicating sector-wide momentum rather than an ADA-specific strengthening.

ADA has broken above its 7-day SMA at $0.79 and 23.6% Fibonacci retracement of $0.82. Its 14-day RSI of 61.77 shows there is more room for upside before hitting overbought conditions, while the MACD’s bullish crossover suggests positive momentum.

Traders are now targeting ADA’s 20-week high between $0.87 and $0.89 after it held above the $0.80 support zone. The token has yet to see any major price pullbacks in the last 24 hours, indicating sustained buying pressure. A close above $0.89 could target $0.93, Cardano’s swing high from August 2025.

At the time of writing, Cardano (ADA) is trading at $0.8718, up 13.51% in the last 24 hours. According to technical analysis based on its current price, in 2025, Cardano is expected to change hands in a trading channel between $0.8455 (Low) and $1.37 (High), with an average annualized price of $1.20. This could result in a potential ROI of +56.49% compared to the current rates.

3. Dogecoin (DOGE)

Source: TradingView

Dogecoin (DOGE) rose 11.6% in the last 24 hours, outpacing the broader cryptocurrency market’s 4.2% gain. Key drivers behind this rally include increased whale accumulation, technical breakout signals, and memecoin momentum fueled by ETH’s surge.

Whale wallets have acquired over 1 billion DOGE, worth $200 million, since yesterday, with addresses holding more than 0.1% of the memecoin’s total supply hitting 46.5% – nearing yearly highs. Reduced exchange supply combined with concentrated buying pressure often precedes rallies. A similar pattern occurred before DOGE’s 130% price surge in November 2024. Sustained accumulation, with whales deciding to hold on to their allocations rather than take profits, could stabilize Dogecoin’s price.

ETH’s 24-hour rally gave a massive boost to altcoins, with DOGE’s trading volume surging 75% to $4.14 billion – its highest level since July. Memecoins often amplify the broader market trend, but DOGE has underperformed its biggest competitors, SHIB (+12.3%) and PEPE (+9.3%), suggesting room for it to catch up. Traders are keeping an eye on the ETH/BTC ratio, and if ETH continues to lead, then DOGE could extend its gains.

DOGE has formed a Golden Cross on its price chart, with the 50-day SMA crossing above the 200-day SMA, which has historically led to 25-130% gains for the memecoin. It has also broken past the bullish flag pattern that was targeting $0.27.

Its RSI currently sits at 67, suggesting room for upside before hitting overbought levels, while the MACD histogram has turned positive following a 5-day consolidation. The next resistance level for DOGE is at the 23.6% Fibonacci level of $0.263. The token must hold above $0.23, and its daily trading volume must remain above $3 billion to sustain the current bullish momentum.

At the time of writing, Dogecoin (DOGE) is trading at $0.2462, up 11.41% in the last 24 hours. According to technical analysis based on its current price, in 2025, Dogecoin is expected to change hands in a trading channel between $0.2380 (Low) and $0.3604 (High), with an average annualized price of $0.2915. This could result in a potential ROI of +46.38% compared to the current rates.

Also Read: Best Crypto To Buy Now Amid Market Slump: $XNY, $AIO, $WEMIX

How will Today’s Best Crypto to Buy Fare in the Future?

The key driver behind the rallies of SUI, ADA, and DOGE is Ethereum’s 9.29% surge over the past 24 hours, which has boosted the altcoin market. As the second-largest cryptocurrency by market cap closes in on its all-time high from November 2021, altcoins are starting to outperform BTC, pushing the market ever closer to the Altcoin Season territory.

Growing institutional interest in Cardano and Sui, through potential ETFs and corporate adoption, has cemented their properties as a store-of-value and blockchain ecosystems with long-term potential. Meanwhile, the risk-on sentiment triggered by growing capital rotation into alts has uplifted the memecoin market, as seen by increased whale accumulation of Dogecoin.

However, readers should keep in mind that cryptocurrencies are highly volatile and speculative investments. It is highly recommended that you conduct proper research and analyze all aspects of the digital currency before making an investment decision. Never put in more money than you can afford to lose in crypto assets.

The contents of this article are for educational purposes only and should not be construed as investment advice. Seek expert advice before investing in risky assets.