Next Cryptocurrency to Explode Friday 15 December - SpongeBob, Render, ORDI

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The global cryptocurrency market witnessed a modest rise in the last 24 hours. Its market cap reached $1.61 trillion, reflecting a 0.20% increase within the last day. Over the same period, the total trading volume surged to $68.83 billion, marking a notable uptick of 5.75%.

Within the crypto sphere, decentralized finance (DeFi) contributed significantly, accounting for $7.85 billion in trading volume over the past 24 hours, representing 11.40% of the total crypto market activity. Stablecoins, a digital currency tied to stable assets like fiat currencies, continued their dominance, reaching $61.98 billion, constituting a 90.04% share of the total 24-hour crypto market volume.

Bitcoin experienced a minor decline in dominance, currently resting at 51.88%, down by 0.26% over the day. Its oscillating movement sends attention to other assets while boosting the market.

However, amidst this market activity, concerns arose following a security breach affecting a crypto protocol utilized by various web3 applications and services. Ledger, a prominent producer of crypto software and hardware wallets, disclosed the breach on Thursday.

The extent of the damage caused by the breach remains uncertain. Notable independent crypto researcher ZachXBT revealed on X that an individual fell victim to the hack, suffering a loss of over $600,000 in cryptocurrency from their account.

Next Cryptocurrency To Explode

Details surrounding the scale and impact of this security incident are still emerging, raising questions about the vulnerability of crypto protocols and the safety of digital assets in the ever-evolving landscape of decentralized finance and blockchain technology.

Investors and users are advised to remain vigilant and take necessary precautions to safeguard their crypto holdings as they search for the next cryptocurrency to explode.

1. Render (RNDR)

The Render Network is the next cryptocurrency to explode today as it emerged as a pioneering force in decentralized GPU-based rendering solutions. It is out to revolutionize the landscape of digital creation. The network acts as a bridge, linking node operators seeking to capitalize on their idle GPU compute power with artists needing scalable 3D rendering capabilities in the cloud. This decentralized peer-to-peer network offers unparalleled scalability, speed, and economic efficiency.

Facilitating a decentralized GPU computing network is just one facet of Render’s multifaceted offerings. The platform extends its services to artists and developers, providing an avenue to create services and applications catering to the burgeoning digital economy. These encompass cutting-edge technologies such as next-generation digital rights management (DRM), artificial intelligence (AI), and the burgeoning domain of virtual assets, particularly Non-Fungible Tokens (NFTs).

Today, the price of Render’s native token (RNDR) is $4.50, boasting a 24-hour trading volume of $261.28 million. Over the past day, RNDR has observed a 0.50% price increase, while its value surged by an impressive 22.60% over the last seven days. With a circulating supply of 370 million RNDR tokens, Render currently holds a market cap of $1.69 billion.

The market has grown substantially throughout the year in the broader crypto landscape, contributing significantly to its overall market capitalization. News of RNDR’s listing on the Japanese exchange Binance fueled a remarkable 35% surge in the Render token’s value over the past month.

Loop animation based on a 3D scan of a dune — Created by Misha Ksiushina

Check out more of her work here: https://t.co/TlzonthEaM #Octane @RenderNetwork pic.twitter.com/khPy0LQAH7

— The Render Network (@rendernetwork) December 14, 2023

Analysts speculate that if the bullish momentum continues, RNDR’s price may strive to breach the crucial level of $5.30 in the forthcoming month.

Conversely, should bears take control, the price might lose steam and test support at $4 soon. Further bearish dominance could result in a continued decline, reaching a lower support level of around $2 in the coming weeks. The trajectory of RNDR’s price remains uncertain, hinging on the balance between bullish and bearish forces within the crypto market.

2. SpongeBob (SPONGE)

As for SpongeBob (SPONGE), while it is displaying notable market movement, its $0.00045917 price is witnessing a 1.20% dip in the last 24 hours. Nevertheless, it is marking a 5.80% increase over the past week.

SPONGE tokens are actively traded across various centralized and decentralized platforms. Bitget emerges as a popular exchange facilitating the highest trading activity for SPONGE/USDT, with a trading volume of $115,130 within the last 24 hours. Other prominent options for trading include Uniswap V3 on the Ethereum network and CoinW.

In contrast to the broader global cryptocurrency market’s downturn of 1.80%, SpongeBob’s recent 5.80% increase in value over seven days positions it as an outperformer. However, it falls short compared to similar cryptocurrencies within the Ethereum ecosystem, which have surged by 12.70%. The community sentiment remains bullish, with over 100% of users expressing positive sentiments towards SpongeBob (SPONGE) today.

Forecasting Sponge’s future price movements draw upon historical patterns and the BTC halving cycles. Predictions estimate SpongeBob’s lowest price in 2024 to be $0.000403, with a potential high of $0.000898 by the following year. In 2025, projections range from $0.000777 to $0.002792, indicating a potential gain of up to 506.90% from today’s price if SPONGE reaches the upper target.

Analyzing technical indicators, SpongeBob’s 200-day Simple Moving Average (SMA) is anticipated to rise and reach $0.000205 by January 13, 2024. Meanwhile, the short-term 50-day SMA is forecasted to hit $0.000406 by the same date.

Don't have enough $SPONGE, anon? 🧽🧽🧽🧽#SPONGE #Crypto #MemeCoin pic.twitter.com/txq5jHYJx9

— $SPONGE (@spongeoneth) December 14, 2023

The Relative Strength Index (RSI) currently stands at 70.62, signifying an overbought position for the SPONGE market. The RSI indicator suggests a potential price increase for SPONGE based on its current positioning.

As SpongeBob (SPONGE) continues to exhibit price fluctuations and varied performance indicators, investors and enthusiasts keenly observe these trends. They also consider potential market shifts while holding SPONGE as the next cryptocurrency to explode.

Visit SpongeBob.

3. ORDI (ORDI)

ORDI crypto has demonstrated remarkable performance throughout the year, solidifying its position among the most successful cryptocurrencies globally. Starting from a year-to-date low of $2.5, the token has soared to surpass $60, propelling its market cap to over $1.2 billion. Despite this impressive surge, analysts project further potential upside for ORDI as the cryptocurrency market moves into 2024.

One of the primary reasons driving investor interest in ORDI is the pivotal shift initiated by the Federal Reserve. During its final monetary policy meeting of the year, the central bank opted to maintain unchanged interest rates. Significantly, the committee suggested a plan for three additional rate cuts 2024.

Market expectations diverge from the Fed’s guidance, with Wall Street economists, including those at ING, anticipating approximately a 150-basis point cut—twice the amount projected by the Federal Reserve. Forecasts from prominent figures like Jeff Gundlach of Doubleline Capital envision an even more substantial 200-basis point reduction, while Goldman Sachs anticipates rate cuts commencing as early as March. This shift will likely benefit previously underperforming risky assets in a high-interest-rate environment, potentially boosting ORDI’s performance.

Another catalyst driving the investment appeal of ORDI is the success of Bitcoin Ordinals ETFs. Recent data from CryptoSlam indicates a surge in Bitcoin NFT sales, surpassing $39.9 million in the last 24 hours. Comparatively, Ethereum and Solana NFT sales reached $14.8 million and $14.1 million, respectively.

🆕 Introducing the first domain to ever be listed as a Doginal inscription!

For Sale: https://t.co/62hOMKQcpA
Listing price: 6.9m $DOGE (obo)

Link to listing: https://t.co/JvrZJLhywE

DRC20 is blowing up. This domain can be a huge asset to capturing that market.

The domain… pic.twitter.com/cQLwtW8SW5

— Ordinals Wallet (@ordinalswallet) December 15, 2023

Over the past month, Bitcoin NFT sales notably exceeded $506 million, surpassing Ethereum’s slightly over $380 million. Wash sales—a measure of repeated transactions—amounted to just $7 million for Bitcoin and $402 million for Ethereum. This unexpected trend, where Ethereum’s dominance in NFT sales faces competition from Bitcoin, suggests potential for ORDI’s continued growth as demand for these NFTs escalates. The prospect of Bitcoin garnering more institutional adoption in the foreseeable future also augurs well for ORDI’s performance.

As ORDI continues to capture attention as a top-performing cryptocurrency, the evolving landscape of NFTs and Bitcoin’s increasing institutional acceptance could further drive its growth trajectory in the years ahead. Investors remain watchful of ORDI’s potential amid these shifting dynamics within the crypto market.

4. Jito (JTO)

BingX, a renowned digital asset trading platform, has recently expanded its product offerings by incorporating JITO (JTO) into its trading pairs. The initiation of deposit and withdrawal services swiftly followed the introduction. Thus, it has increased JTO’s position in the market, making it the next cryptocurrency to explode. This strategic move by BingX aims to cater to a broader spectrum of investors by diversifying its trading options and accommodating the growing interest in digital assets.

Including JITO on BingX’s platform signifies the platform’s commitment to adapting to the evolving landscape of the digital asset market. As a new and promising token, JITO’s listing on BingX underscores its dedication to providing its users with diverse and comprehensive investment opportunities.

1/2 The team at @jito_labs has built a beautiful dashboard here. 📈https://t.co/feoiY8ALQL pic.twitter.com/0cPA8IkTug

— Jito (@jito_sol) December 13, 2023

Investors and enthusiasts keen on exploring the burgeoning digital asset market can now access the most recent JITO price and engage in trading activities using the BingX Trading App and Platform. The addition of JITO to BingX’s offerings is a testament to the dynamic and rapidly expanding nature of the digital asset market, showcasing the industry’s continuous evolution and adaptation to new and promising tokens like JITO.