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Prominent analyst Joe Parys has identified seven altcoins that he considers to be high-risk yet potentially lucrative investments, predicting that they are about to explode.

First, Parys referenced statistics from CoinGecko revealing how certain altcoin narratives generated returns exceeding 1,310% for investors during the first quarter of 2024.

Likewise, he highlighted the current dynamics where tokens like PEPE have recently achieved a new all-time high (ATH). Parys acknowledged the high volatility in the market but emphasized that this volatility presents opportunities for astute investors.

Accordingly, Parys went on to suggest that the real surge in altcoins has yet to occur. He anticipates Bitcoins dominance diminishing in the following months, opening the way for the much-awaited altcoin season.

In light of this, he outlined seven high-risk, high-reward altcoins that investors might consider purchasing to strategically position themselves for the forthcoming explosive growth period in the altcoin market.

Topping the list is CARV, which aims to create the most extensive modular data layer for gaming and AI. Although still in its infancy with an upcoming sale this month, CARV has secured support from notable investors such as HashKey, Consensys Ventures, and Tribe Capital.

Another of Parys selections is OrangeDX (O4DX), hailed as the first-generation Bitcoin DeFi Hub. Its a Bitcoin protocol platform for trading, bridging, launching, earning, borrowing, and lending.

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The third recommendation from Parys is the Elixir project, which targets the gaming industry. Elixir boasts of enabling the internet of order book liquidity and is supported by a robust network of over 10,000 validators.

While its token has not yet been launched, Parys is confident that new, high-risk ventures like Elixir are worth considering for investment.

Among other high-risk projects recommended by the analyst is the meme-based project Foxy. Per the disclosure, Foxy merited the list given that meme coins were a dominant force in the first quarter of 2024, with the top ten meme coins averaging a return of 1,313%.

Essentially, Parys selected the Foxy meme coin for its compelling narrative that could potentially lead to explosive growth.

The fifth project to make Parys list is the BRETT meme coin, which has recently captured media attention by reaching an all-time high. Currently trading at $0.09201, BRETT has seen a surge of over 55% in the past week and a 174% increase over the past month.

Furthermore, Parys has spotlighted Lingo, an emerging project on the Solana and Base blockchains. The project concentrates on real-world assets (RWA)-powered rewards tokens.

Recently, Lingo made waves by initiating an airdrop as a reward for its community members. This followed a successful campaign that saw over 2 million tweets from 150,000 participants for its newly launched Lingo Island.

The final high-risk project mentioned by the analyst is Gummy, a venture operating on the Solana blockchain. Gummy is currently attracting attention by offering rewards to users who stake their tokens.

Notably, Joe Parys stressed throughout the video that the tokens he recommended are projects he is personally investing in. Accordingly, he has urged viewers to conduct independent research before engaging with the projects.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basics opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Here Are 7 High-Risk, High-Reward Altcoins To Buy This Week - The Crypto Basic