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The crypto market trends signal the return of altcoin and meme coin season. Many of the assets in this category might become the next cryptocurrencies to explode. Meme coins, like PEPE, are printing dramatic gains. Surprisingly, many of these assets have made significant price gains in the last seven days.
Despite a 6.86% decline in the last seven days, Bitcoin sets the pace of the market. Owning a significant amount of BTC could offset the downside of mistimed investment. The overall market trajectory remains unclear as it has yet to settle for a specific direction.
Next Cryptocurrency To Explode
The team behind Bitcoin Minetrix has hatched a strategy that will likely revolutionize Bitcoin Mining forever. The project leverages cloud computing as a means of democratizing mining activities. The updates below include the details of these projects and the performance of its ongoing presale.
1. Pepe (PEPE)
In the last year, PEPE’s price shot up by 859%. This big jump shows that more people are interested in investing in it. Among the top 100 cryptocurrencies, PEPE did better than 95% of them. It even outperformed Bitcoin and Ethereum, which are well-known, showing that it could get a lot of attention from investors and make a lot of money.
Being new and gaining popularity, Pepe Coin could see its value rise significantly. However, since it’s still relatively new, it’s hard to predict what will happen with it. Compared to older cryptocurrencies, Pepe Coin has more risk and more potential to make money.
The PEPE community is known for its vast collection of 10,000,000 unique memes, making it relevant to modern culture. Thanks to the widespread popularity of’ Pepe the Frog’ memes, the PEPE community could attract retail investors. Moreover, it shows more potential to attract those unfamiliar with cryptocurrencies than well-known names like Dogecoin and Shiba Inu.
PEPE’s current trading position suggests positive market sentiment and potential upward momentum. Its price trend remains strong, supported by trading consistently above the 200-day simple moving average. Additionally, the coin has shown consistent positive performance, with gains in 18 out of the last 30 days, indicating investor confidence.
After a recent surge, PEPE strives to surpass its recent correction and achieve a new record high. According to a crypto analyst, the Pepe coin’s price is primed for another significant rally, potentially tripling in value in the coming weeks.
2. Bitcoin Minetrix (BTCMTX)
After a successful fundraising of $13 million, Bitcoin Minetrix finished its thirty-nine-round ICO on Saturday, April 28, at 12:00 UTC. This marks the beginning for investors to acquire their $BTCMTX tokens and begin staking them for rewards.
The BTCMTX token could surge in value following Bitcoin’s post-halving rallies and subsequent exchange listings. This is due to the recent halving on April 20, when Bitcoin miners now earn 3.125 BTC per block, down from the previous 6.25 BTC.
Despite reducing rewards for miners, historical data shows that Bitcoin has become more profitable after each of its three halvings. So, while rewards may have decreased, the overall profitability of Bitcoin mining tends to improve over time.
The $BTCMTX Claim is now live! 🎉
Claim your #Tokens through our website.
Stay cautious and refrain from clicking on any unauthorized links. ⚠️
Make sure you've got a sufficient amount of $ETH to cover gas fees. pic.twitter.com/R416CgEca9
— Bitcoinminetrix (@bitcoinminetrix) April 30, 2024
The demand for Bitcoin is still high due to increased interest from institutions, particularly with the launch of eleven US spot Bitcoin ETFs in January. This heightened demand, coupled with a reduction in available Bitcoin, increases its value. This pattern has been observed during previous halvings of Bitcoin. Given these factors, now is an excellent time for a token that removes barriers to entry in Bitcoin mining.
Before Minetrix, mining was mainly controlled by specialized companies and those with significant resources for energy-intensive rigs. Bitcoin Minetrix aims to return to Bitcoin’s core principle of decentralization by making mining accessible to everyone.
3. Avalanche (AVAX)
The AVAX cryptocurrency price rose 0.70% to $33.65 in the last 24 hours. This is a significant drop from its earlier highs when hopes were high for it to hit $100. Yet, recent price movements show some stability at $30, which could be crucial for buyers trying to stop further drops and start a recovery.
There are signs that AVAX might form a double bottom around the $30 support line, a classic signal that the downward trend might turn around. Additionally, the cryptocurrency seems to be breaking out of a downward channel pattern it’s been in. As it tests resistance at $34.59, there’s a suggestion that momentum might shift, potentially leading to significant price increases.
Stripe's expansion into crypto continues, today integrating Avalanche & Core to provide easier access to Web3
🔺US users can purchase $AVAX directly thru Stripe without using an exchange
🔺Avalanche apps can embed Stripe’s onramp via customizable widget https://t.co/NIBEfQUWuP
— Avalanche 🔺 (@avax) April 29, 2024
Technical signals like the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) suggest positive trends. The MACD line is above zero with a bullish crossover, and the RSI is going up, breaking past the usual resistance levels on the chart. This confirms the positive view shared by traders and analysts.
Given these signs, many believe AVAX could surpass $50. This optimism is backed by better market conditions and investor confidence, possibly leading to a rise towards the 50% Fibonacci retracement level. However, the $30 support level needs to hold. If it fails, the price might drop further, perhaps down to around $20 in a bearish scenario.
4. Toncoin (TON)
Thanks to its recent performance, analysts consider TON one of the top coins for investing in 2024. TON’s price rose from $2.33 on January 1 to about $5.50 by the end of April, marking a remarkable 136.05% increase. This growth makes supporters optimistic that TON will continue its upward trend and possibly reach $10 by year-end.
Additionally, experts highlight positive developments within the Toncoin community. For instance, on April 26, the TON Foundation and KuCoin launched a program to reward the community, coinciding with the introduction of USDT on the TON blockchain.
Some experts express concerns about Toncoin’s price, suggesting a potential drop due to market volatility. But these differing opinions are a natural part of a healthy market. They argue that if Toncoin stays below $6, it might start a long decline and could even go below $4 by the end of the year.
This diversity of views should reassure potential investors that the market is dynamic and offers opportunities for both caution and optimism.
@kucoincom has teamed up with TON Foundation to launch the "Community Incentives + Learn & Earn + Trading Competition" campaign to celebrate $USDt’s launch on #TON! 💎
Complete tasks, learn, and earn your share of the $200K prize pool. 💸
How can you join? 👀 Let’s find out… pic.twitter.com/5hvn2cwqJN
— TON 💎 (@ton_blockchain) April 26, 2024
On the other hand, different analysts see a chance to buy TON at $5. They think it’s a good time to invest because even though the price has dropped slightly, it’s still above $5.25, showing buyers are still interested.
5. Wormhole (W)
Despite a downturn in the crypto market, Wormhole’s native token (W) experienced a significant increase of more than 4.98%, reaching $0.6308 within 24 hours. Consequently, Wormhole’s market capitalization surged to $1.14 billion.
This surge in price can be attributed to Wormhole’s introduction of Native Token Transfers (NTT) for the W token. This advancement allows W to be seamlessly transferred across multiple blockchains, including Solana, Ethereum, Arbitrum, Optimism, and Base, making it natively multichain.
This update allows users to move W between networks without facing liquidity problems or requiring liquidity pools. It also keeps the token’s special features within the Wormhole ecosystem intact.
.@wormhole is bringing more interoperability to the Arbitrum ecosystem! 💙 https://t.co/r6JlDMxGjc
— Arbitrum (💙,🧡) (@arbitrum) April 29, 2024
The addition of NTT signals the end of Wormhole’s second launch phase. This sets the stage for a new multichain governance system called MultiGov and W staking for governance purposes.
Despite recent progress, Wormhole’s value is still 60% lower than its peak on April 3, 2024, when it reached $1.61. Currently, Wormhole is priced at $0.6308. However, if buyers start pushing again, the price of W could rise to its upper resistance level of $0.90 by the weekend.
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