Next Cryptocurrency to Explode Friday 29 September - Meme Kombat, Maker, Injective

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The global crypto market capitalization has risen in the last 24 hours. It rose by 2.05% to $1.07 billion, reflecting renewed buyers’ interest. It corroborates all the positive developments in the market occasioned by innovations. Traders are working hard to ensure that the next cryptocurrency to explode remains so for a long time.

Going a significant step higher than Thursday’s gains, the market’s total trading volume reached $30.4 billion, showing a substantial growth of 5.51%. The decentralized finance sector contributed $2.69 billion to this trading volume. It represents 8.84% of the overall cryptocurrency market’s 24-hour trading volume.

Stablecoins, on the other hand, boast a total volume of $28.55 billion, accounting for a remarkable 93.91% of the 24-hour trading volume.

Bitcoin has a dominance rate of 49.00%, marking a slight increase of 0.04% in the last 24 hours. This record shows Bitcoin’s enduring strength in the cryptocurrency landscape.

After hitting their worst levels in 10 months, Asian shares have begun recovering. However, the markets are still on the path of recording their most challenging quarterly performance in a year. This development is mainly because of increasing interest rates that influence investor sentiment. Meanwhile, the US Dollar remains robust in the market.

The MSCI index will see a 5% decline between July and September. The period becomes the index’s poorest quarterly performance since a 13.6% decline in the same period last year.

Many investors now focus on the Chinese real estate market. This special attention follows China Evergrande Group’s announcement of an investigation into its founder for alleged crimes.

Next Cryptocurrency to Explode

Records in the United States indicate that the second quarter maintained a relatively steady economic growth. There are also signs of an even stronger performance in the current quarter. However, concerns loom on the horizon, with the potential for a government shutdown and an ongoing strike by auto workers casting shadows over the outlook for the remainder of 2023.

1. Maker (MKR)

Amid a challenging period for the cryptocurrency market, Maker’s native token, MKR, has shown it is the next cryptocurrency to explode. The coin emerged as a strong performer, showing notable in recent weeks. MKR has demonstrated an impressive upward trajectory for about a month, recording a 40% increase and surpassing the $1,500 threshold.

One noteworthy development involved a prominent whale who recently deposited 3,527 MKR tokens onto the Binance exchange. This strategic move capitalized on the token’s appreciating value. This whale still holds 10,000 MKR tokens, resulting in a staggering $5.12 million in total profits, representing an impressive 34% increase in value.

In another intriguing turn of events, a second whale decided to sell 335,616 UNI tokens for 895 ETH, equivalent to $1.43 million. Regrettably, this transaction incurred a loss. Subsequently, the same individual reinvested 899 ETH, approximately $1.44 million, to acquire 958 MKR tokens. The initial withdrawal of 335,616 UNI tokens from Binance occurred when UNI was valued at $5.86, resulting in a loss of $535,000.

In case you missed it:

A new proposal has been put forth to deploy @spark_protocol on zkSync Era Mainnet.

It includes wETH, rETH, wstETH, and DAI as initial collaterals and setting a 2 million DAI liquidity goal to kickstart Spark's growth on zkSync.

→ https://t.co/D4XX8VlP0B

— Maker (@MakerDAO) September 21, 2023

As of the latest available data, MKR was trading at an impressive price of $1,516.64. Throughout its surge, MKR exhibited a consistent pattern of achieving higher highs and higher lows, indicative of a bullish trend.

Analyzing vital technical indicators, the Relative Strength Index (RSI) stood at 79.34, signifying a high bullish momentum surrounding the token. However, it’s worth noting that the Chaikin Money Flow (CMF), though still relatively high at 0.25, experienced a slight decline recently.

2. THORChain (RUNE)

THORChain’s (RUNE) price performance has been firm today, as the altcoin’s value surged beyond the $1.9 mark, driven by increased buying pressure. Investors’ rush toward the asset indicates its future as the next cryptocurrency to explode.

On September 18, RUNE faced rejection when it approached $1.98, leading to a decline to as low as $1.65. Today’s gains have allowed the cryptocurrency to break through the resistance level at approximately $1.74, with the 20-day Exponential Moving Average (EMA) providing support in the vicinity of $1.72.

For RUNE, there appears to be a sense of urgency among buyers if the price manages to breach the $2.01 threshold. If the expected increase in buying activity materializes, the RUNE/USD pair may reach $3.

200 $ETH collateral
$105k $USDC in debt

Welcome 👋 pic.twitter.com/LIgtcZV6M1

— THORChain (@THORChain) September 29, 2023

However, while bullish sentiment may drive aspirations for a breakthrough to $3.00, formidable resistance lies ahead at a supply wall that has been a notable obstacle for buyers this week. This obstacle is part of a horizontal barrier impeding buyers back in February. In light of this, a pullback is a distinct possibility, potentially triggered by profit-taking. In such a scenario, investors could find the support level in the $1.72 to $1.66 range.

3. Meme Kombat (MK)

One of the latest members of the memecoin community has been welcomed to the market. Meme Kombat (MK) captures the attention of traders and investors. This cryptocurrency combines the power of memes with an immersive gaming experience. It made a noticeable entrance just a few days ago. Since then, its ongoing presale has raised more than $119,000.

Who is ready to see some Kombat? Is there an obvious winner between @wojakcoineth and @pepe2coineth ? pic.twitter.com/6SJ6fQGN0W

— Meme Kombat (@Meme_Kombat) September 28, 2023

Given its rapid momentum during the presale, many investors are pondering whether Meme Kombat could be the next Pepe Coin or Dogecoin. Some others are, however, certain that this new player is the next cryptocurrency to explode.

Numerous meme coins have recently flooded the market, often needing a clear use case and offering extraordinary price gains that prove short-lived due to their lack of sustainability. Meme Kombat, however, distinguishes itself as more than just a meme coin; it seamlessly blends memes with combat arenas, delivering an unparalleled and entertaining experience to its users.

This project leverages cutting-edge AI technology to generate immersive, unpredictable battle outcomes involving meme coin characters. Meme Kombat introduces a captivating betting feature to add an exciting dimension, enabling users to wager on battle results using its native token, MK. Users can earn more tokens and enticing rewards by successfully predicting battle outcomes.

Meme Kombat introduces many phases to its betting system. They are specially designed to keep users engaged and entertained. Users and investors can enjoy various betting types within the ecosystem, such as Player-vs-Player (PvP) Betting, which allows players to challenge each other directly. The players set their stakes for high-risk, rewarding confrontations. There’s also Player-vs-Game (PvG) Betting, where users can place bets on in-game events using traditional odds mechanics, as well as Direct and Side Action Betting, which enables players to directly wager on specific battle outcomes or other dynamic elements within the game.

Users can relish a unique and immersive gaming experience combined with AI-generated and randomized battle sequences regardless of the betting option. Furthermore, since Meme Kombat is built on blockchain technology, it guarantees complete transparency and fairness, fostering trust within the platform.

Visit Meme Kombat.

4. Injective (INJ)

The Injective (INJ) token has risen by nearly 5%, presently trading at $7.47. The token’s 24-hour trading volume amounts to $26.7 million, suggesting improved certainty around the coin from the last 24 hours.

Injective is now officially integrated with @akashnet_, enabling seamless decentralized Injective node deployments.

Head to Akash Network's Cloudmos dashboard to deploy your Injective node on the Akash Supercloud.https://t.co/NeyEbnZ20M pic.twitter.com/WDgCgDDWxJ

— Injective 🥷 (@injective) September 28, 2023

Over the past 24 hours, INJ registered a modest 0.70% increase before dipping by 0.05% in value. It, however, quickly followed it up with the current price value. According to CoinMarketCap, Injective currently holds the #58 ranking among cryptocurrencies, boasting a live market capitalization of approximately $625.60 million. This rapid growth places the coin firmly in the zone where it is the next cryptocurrency to explode.

The circulating supply of Injective consists of approximately 83.76 million INJ coins out of a maximum collection of 100 million INJ coins.

Regarding crucial price levels, the support level is $7.12, with immediate resistance at $7.50. Further resistance levels can be found at $7.84 and $8. Other support levels are $6.65, $6.40, and $5.93.

Analyzing the technical aspects, the Relative Strength Index (RSI) for INJ currently stands at 50, indicating a balance between buying and selling pressures. Meanwhile, the Moving Average Convergence Divergence (MACD) indicator reports a value of 0.007, with its signal line at 0.016, hinting at the potential for a bearish crossover.

The price is above the 50-day Exponential Moving Average (EMA) of $7.12, which holds significance in determining the short-term trend.

A bullish scenario is conceivable now that the price is above $7.12, whereas a bearish outlook may emerge if it falls below this critical level.