Altcoin investors are constantly seeking higher returns and new ventures, but sometimes this pursuit can lead to years of waiting without achieving desired profit rates. However, Algorand (ALGO) may be on the verge of a breakthrough, potentially reaching $0.229 in June.

As Bitcoin surpasses $70,000, the altcoin market is experiencing a surge in activity, with many cryptocurrencies turning green. Algorand, in particular, presents an intriguing situation. Despite only 9.39% of investors being profitable, 88.40% continue to hold their shares, with an average holding period of 11 months. This indicates a strong "buy and hold" strategy, similar to Cardano.

Whales hold approximately 20% of the supply, with a 1% increase since May. Daily active addresses exceed 54,000, and transaction activity has doubled since last year, reaching 1.36 million. Most transactions are valued at less than $1, leveraging Algorand's low-cost fee structure.

Technically, the price has been consolidating between $0.200 and $0.169 since April. A breakout above $0.2 could trigger a rally towards $0.229, a 26% increase, ending the long-term stagnant movements.

In conclusion, Algorand's potential for growth is significant, with a possible rise to $0.229 on the horizon. As investors continue to hold their shares and transaction activity increases, ALGO may be poised for a breakthrough. Will Algorand unlock its potential and bring profits to its investors? Only time will tell.