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The altcoin market looks bullish as some coins try to bounce back. Investors need to stay alert during this consolidation phase, as it could be a chance to ride a rising trend.
Institutional investors are now paying more attention to interoperability and tokenizing real-world assets. Prices of these assets are climbing, even before the market takes off entirely. The objective is to identify the next cryptocurrencies to explode and inform investors and traders about each token.
Next Cryptocurrency To Explode
Attention in the crypto market in the coming month will go toward the altcoin and meme coin sectors and making the most of the altcoin market. Hence, investors can capitalize on the moment and take a position in upcoming tokens like PlayDoge. PlayDoge is a new Doge meme coin that uses play-to-earn technology to create a gaming economy with real monetizable value. This post covers the details of its presale.
1. GameStop (GME)
The Solana-based GME coin (GME), a meme coin inspired by the 2021 GameStop short squeeze, experienced a surge in value, increasing by over 150% to reach $0.029 on June 7. This rise occurred after Keith Gill, known as Roaring Kitty, announced his return to YouTube after a three-year hiatus.
Since June 2, the price of the GME cryptocurrency has soared by more than 730%. Following Gill’s revelation about trading GameStop’s stock, the GME token has climbed over 110%.
Even though Keith Gill’s YouTube announcement lacked detailed content, it sparked considerable speculation that he might be optimistic about GameStop’s future. This anticipation has energized the investor community. One notable example is a trader who transformed a $2 million investment in Solana’s native token into a $1.5 million profit through the GME meme coin.
Starting now, you can use $GME as currency at @BetAltcoins , bringing your gaming experience to the next level. 💰🃏https://t.co/7IJfutnHfQ
And that's not all – Betaltcoins will be burning 5% of the fees, ensuring that our community and $GME holders benefit from this epic… pic.twitter.com/NEGq4mVWOo
— GMEonSol 🎮 (@gmecoinsol) June 8, 2024
At press time, the price of GME is $0.0183, showing a 22% increase in the past 24 hours. Its market cap has risen by 21.92%, now at $125,698,661. The sentiment for GME’s price prediction is currently positive, indicated by a Fear & Greed Index of 75 (Greed), which suggests more token transactions and growing optimism about an upward trend.
Given its solid fundamentals and support from a committed crypto community, GME has significant potential for future growth. If the bullish trend in the crypto market continues, we expect the average price of GME Coin to be around $2.33 in 2024.
2. Biconomy (BICO)
Biconomy’s distinct relayer network addresses common blockchain challenges. Curve Finance, Perpetual Protocol, Decentral Games, and Sapien Network use it to enable gasless transactions. Quantstamp, MixBytes, Certik, and Holborn conduct audits to ensure the security of these transactions.
Moreover, Biconomy provides developers with an easily integratable software development kit. Users sign transactions with private keys, ensuring the platform remains non-custodial and trustless.
Additionally, Biconomy’s multichain relayer protocol enhances the user experience of decentralized applications (DApps). The project aims to make Web3 products as user-friendly as Web2 products, and its infrastructure aims to overcome various Web3 limitations.
Biconomy allows users to join without paying gas fees. Additionally, they can use any ERC-20 token to cover gas fees for their transactions. The platform makes blockchain interactions easier and speeds up transaction confirmations.
We're excited to be part of this journey with @Sidebot_! 🚀
Together, we're revolutionizing seamless transactions with faster processing.
Stay tuned to see what this partnership might drop next! 👀 https://t.co/m1iyul3dJR
— Biconomy (@biconomy) June 7, 2024
Currently, BICO is priced at $0.6364, showing an increase of 19.30% in the last 24 hours and 154.60% over the past year. It is trading 1138.56% above the 200-day simple moving average (SMA) of $0.26812. However, the 14-day Relative Strength Index (RSI) of 79.08 suggests a potential decline soon. In the last 30 days, BICO has had 15 green days and high volatility at 10.31%, indicating unpredictable price movements.
Despite this, the favorable price prediction sentiment and a Fear & Greed Index of 75 (Greed) indicate increased token transactions, signaling growing optimism about an uptrend.
3. TRON (TRX)
TRON is a well-known Layer 1 blockchain platform with over 2 million daily users. This achievement highlights the platform’s unique community and strong interaction. Due to partnerships and an active community, user engagement with TRON is increasing, influencing TRX trading.
Since its launch in June 2018, TRON has established itself as a major competitor among blockchain platforms like Ethereum, Tezos, Cardano, and EOS. It uses a delegated proof-of-stake (DPoS) system for security.
In May, TRON reached several major milestones. For example, USDD, TRON’s decentralized stablecoin, entered CoinMarketCap’s top 100 16 days after its May 5 launch. By June 1, USDD had a circulating supply of over $667 million and burned more than 8 billion TRX. Moreover, DefiLlama reveals that TRON is now third among all public blockchains by total value locked (TVL) at $6.17 billion, following Ethereum and BNB Chain.
— TRON DAO (@trondao) June 8, 2024
TRON has seen significant price changes since its start. TRX was initially priced below $0.002, peaked at $0.30 in January 2018, then fell to $0.03, and continued to decline until June 2020, hitting a low of $0.007. In 2021, the token rose to $0.1616 in April before falling again due to market corrections.
TRX was priced at $0.1164 at press time, showing a neutral trend with a 14-day Relative Strength Index (RSI) of 50.05. TRON’s high market cap and liquidity make it an appealing option for investors, indicating its resilience and potential for significant returns.
4. PlayDoge (PLAY)
In just under 14 days since its launch, PlayDoge (PLAY) has raised over $3.2 million, with its ICO gaining rapid traction. Although $PLAY is a meme coin like Dogecoin, it focuses specifically on the Shiba Inu dog breed, where the similarities end.
PlayDoge is a mobile-based play-to-earn (P2E) game that turns the DOGE meme into a Tamagotchi-style virtual pet. This allows users to earn $PLAY tokens. The game combines ’90s nostalgia with modern blockchain technology. Players can care for an 8-bit pixel Doge in this retro-style mobile game. They feed, play mini-games, and bond with their virtual pet, earning $PLAY tokens.
#PlayDoge is bringing Tamagotchi into the 21st century. 🎆
There will be games on our App to earn $PLAY tokens that can be redeemed for #Crypto. ✅
We’ve given Tamagotchi the spec upgrade it deserves! 💫#Memecoin #PlayDoge #BNB #P2E pic.twitter.com/8negSBSmM1
— PlayDoge (@PlayDogeGame) June 9, 2024
PlayDoge is unique compared to Dogecoin because it operates on the BNB Chain, developed by Binance, the largest cryptocurrency exchange globally. In addition to earning through play-to-earn (P2E) mechanisms, token holders can earn passive income by staking $PLAY, which offers a remarkable 1,753% annual yield (APY).
Currently, $PLAY tokens are priced at $0.00504 each. With an upcoming price increase in less than 24 hours, it’s best to secure the best deal quickly. You can purchase $PLAY on the official website using BNB, USDT, or a bank card to participate in the presale.
Join the PlayDoge Presale Here.
5. Monero (XMR)
Monero (XMR) is a leading cryptocurrency focused on privacy built on the CryptoNote protocol. It provides a secure and private currency system using unique cryptographic methods to ensure all transactions are untraceable and unlinkable.
Monero is trading at $169.44, about 78,371% higher than its lowest value of $0.2162 on January 14, 2015. With a market capitalization of $3,118,095,142, Monero reached its peak price of $542.33 on January 9, 2018. Considering its strong performance over the years, Monero is a promising investment choice.
We're excited to share that MoneroKon 2024 starts tomorrow!
'Monero Konferenco (also known as "MoneroKon") brings together global privacy advocates, cypherpunks, and leading scientists to discuss advancements in privacy and financial technology. The conference and hackathon…
— Monero (XMR) (@monero) June 6, 2024
Furthermore, Monero (XMR) has seen its price rise by about 12% over the past week. In a positive development, Monero’s price increased by 3.02% in the last day and 28.54% over the past month. Although XMR has a Year-to-Date (YTD) return of less than 3%, the improving market sentiment suggests a bullish trend for the altcoin in the coming months.
After a correction of around 39% in February, the bulls lost strength, leading to weak price action and consolidation between $112.80 and $126.50 for over three months. Once the bulls regained momentum, the price broke out of this range. Since then, XMR has been on a steady upward trend.
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