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Although cryptocurrency prices have been falling for a while, the overall feeling in the market remains positive. Recently, Bitcoin (BTC) has been struggling to get back to $60K and above, and Ethereum (ETH) is striving to stabilize at $3,000.
However, identifying the next cryptocurrencies to explode might take some work as most funds are attracted to pumping assets. Today’s article explores the performance of cryptocurrencies that have dominated the gainers list in the last 24 hours. The objective is to identify coins with some potential and inform investors and traders about each token.
Next Cryptocurrency To Explode
Today’s article discusses the performance of potentially explosive cryptos that investors should add to their watchlist. It also includes a special mention of Pepe Unchained, a new Pepe-themed meme coin launched on its Ethereum Layer 2 blockchain. Within minutes, it attracted over $150,000 in investments. The details of its presale and the performance of the top-performing cryptos today are shared below.
1. Bonk (BONK)
Amid growing interest in the Solana ETF, the Solana-based meme token BONK has seen significant gains, leading today’s crypto market. Over the past 24 hours, BONK’s value has surged by 24.34%, reaching $0.00002665, aiming to recover last week’s losses.
Initially, BONK faced a bearish trend with support at a low of $0.00002. However, a proposal to reduce token supply boosted investor sentiment, increasing market capitalization by 24.26% to $1.83 billion.
According to CoinMarketCap, BONK has outperformed other Solana network meme coins like WIF, BOME, and SLERF. The rise in interest is due to several developments, including BONK’s addition to the on-chain data provider Xangle. Investors can now access real-time information about BONK, from circulation to exchange listings, all in one place.
BONK DAO has received a proposal to BURN ~84B BONK from its Treasury representing the Q2 amount of BONK sent to the DAO from BONKBot.
All BONK locked on BonkRewards is now able to vote on community proposals.
Voting:https://t.co/akvJAfpCcM
— BONK DAO (@bonk_dao) July 8, 2024
The Bonk DAO account on X also announced a request to burn over 84 billion BONK tokens from its Treasury. BONKBot gave these tokens to the DAO in Q2, which can now be used to vote on community initiatives.
Market analysts noted a 158.09% increase in trading volume, reaching $562.24 million, indicating renewed investor interest post-announcement. While the proposal awaits final community vote approval, its immediate market impact is clear. This follows an April precedent when the BONK DAO approved a burn of 278.39 trillion BONK tokens with a 99.9% approval rate. Previous token burns have typically led to positive price adjustments, showing investor confidence in the token’s management and strategy.
2. Pepe (PEPE)
The PEPE price has rebounded strongly from its monthly lows after failing to maintain support at $0.00000925. This has drawn significant buying interest, pushing the price close to $0.00001. However, the trading volume is still a limiting factor as the buying momentum is fading. Consequently, the price may stay within a consolidated range for a while before experiencing significant movement.
On Monday, meme coins saw a strong rally, with popular tokens like Bonk and Pepe among the top performers in the market. The frog-themed Pepe token was the second-best performer, with holders seeing profits of over 15% in the last 24 hours. The Ethereum-based token also increased its trading volume by 63% to $1.15 billion, the highest among meme coins.
The PEPE price has been moving upward within a parallel channel for several months. Recently, a bearish trend pushed the price below the support level. However, instead of continuing to fall, the price started to rebound. The RSI also reversed after hitting the lower limit. Meanwhile, the MACD is close to a bullish crossover, indicating that buying pressure may soon increase. Until then, the price might stay stable before experiencing a significant rise beyond $0.000012.
3. Pepe Unchained (PEPU)
Pepe Unchained ($PEPU) surpasses expectations by raising over $2.85 million in presale funds. On Saturday, the new meme coin, which operates on its own blockchain built on Ethereum, had already crossed the $2.5 million mark. It then added another $250,000 within 24 hours.
Unlike the broader crypto market, Pepe Unchained is approaching the $3 million milestone this week and may reach it before its one-month anniversary. Elsewhere in the market, caution prevails. Currently priced at $0.0083258, the $PEPU price is set to increase to $0.00835910 in less than two days during the next presale stage.
Pepe Unchained’s presale success stands out against the market’s recent bearish trend. While the broader crypto market has shifted towards fear, as indicated by a drop below the 40 level on the CoinMarketCap Fear & Greed Index, Pepe Unchained’s presale activity suggests “extreme greed.” Raising $250,000 in just over 24 hours represents a 10% increase, while most other coins are losing value.
Investors are excited about Pepe Unchained because it offers significant improvements over its predecessor, $PEPE. With $PEPU tokens, investors enjoy lower gas fees and faster transaction speeds, thanks to its own Layer 2 chain built on Ethereum.
Pepe is hard at work!
His Layer 2 blockchain is coming out soon. Stay tuned for the launch! 🐸 ⚒️ pic.twitter.com/ouHZNluT0n
— Pepe Unchained (@pepe_unchained) July 5, 2024
Having its blockchain enhances Pepe Unchained’s potential. It’s not just a single token but the foundation for a new ecosystem that includes DeFi, NFTs, other meme coins, and even AI-related tokens. Pepe Unchained has all it takes to put it among upcoming cryptocurrencies to explode. Join now to secure your stake before the market turns bullish and propels $PEPU investors to new heights.
Visit the Pepe Unchained Presale
4. Ultra (UOS)
Ultra is a platform for publishing video games and related content. Its mission is to break the monopoly of platforms like Steam and offer developers, players, and influencers new opportunities. Ultra aims to provide a fairer solution for both players and developers. Players can enjoy instantly playable games, earn UOS using the platform, and access exclusive games. Developers benefit from better marketing tools and the potential for 20% higher sales revenue.
In addition to game publishing, Ultra offers advertising platforms for both the demand and service sides, players’ ability to resell used games, and a platform-exclusive app. Ultra distinguishes itself by building a top-tier PC game publishing platform that can outperform current solutions. This infrastructure provides specific advantages to developers and players, helping Ultra achieve its goals.
Today, the UOS price is $0.09161, up 12.11% in the last 24 hours. The market cap has also grown by 12.11%, reaching $34,636,317, and the 24-hour trading volume has risen by 148.92%, hitting $2,395,143.
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✅ Download Ultra: https://t.co/u9gyHfrH9Z… pic.twitter.com/irWdoLr1Kp— Ultra (@ultra_io) July 8, 2024
With solid fundamentals and support from a dedicated crypto community, EOS has significant potential. If EOS announces collaborations with other networks, its price could surpass $2 by 2024. If the crypto market remains bullish, the average EOS price might stay around $2.19 in 2024. However, if the market declines, the minimum EOS value could drop to $0.05 in 2024.
5. Chromia (CHR)
The price of CHR has surged by 16.50% in the last 24 hours, with a 40.02% increase in trading volume. Over the past week, it has jumped by 20.48%, boasting a Year-to-Date (YTD) return of 125.41%. This indicates a solid long-term bullish trend for the altcoin.
Chromia (CHR) is a blockchain platform and cryptocurrency designed to provide scalable and decentralized infrastructure for decentralized applications (dApps) and games. Its unique value proposition and ability to reverse negative market trends and exceed the $0.26 mark with an 8% daily increase make it a promising investment.
This rally happened as Chromia joined the AWS Partner Network, increasing its visibility and accessibility. The Chromia team announced that this would link Chromia’s infrastructure to the AWS Marketplace used by millions of customers. Furthermore, the launch of Chromia’s MVP Mainnet on July 16 is expected to strengthen its market position further.
Some milestones from the #Chromia ecosystem 🎉
MVP Mainnet is coming on July 16th 👀@MyNeighborAlice hit 3.5M txs on Appnet
CoA by @alliancegamesx is already at 500K
30 node providers (& growing)
Real-world partnerships spanning fashion, sport, and moreJuly is gonna be big!
— Chromia | Power to the Public (@Chromia) July 8, 2024
The MACD technical indicator’s green histogram shows a constant decline, suggesting reduced buying and selling pressure in the crypto market. However, the averages continue to rise, indicating a mixed sentiment.
If the market can keep the OM price above the crucial support level of $0.2580, the bulls may regain momentum and target the upper resistance level of $0.3430. This could make CHR one of the next cryptos to explode. On the other hand, if the bears take over, the Mantra price could drop to $0.1925 this month.
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