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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. TRON (TRX)
TRON (TRX) has experienced a modest 2.71% increase over the past month and a 3.28% rise over the past 24 hours. Firstly, this reflects a neutral trend with a 14-day RSI of 32.79. Currently trading around $0.1285, TRX is above its 200-day moving average of $0.120228, showing signs of recovery potential. Key resistance levels are at $0.1415, $0.1445, and $0.1528. Breaking through the first resistance could lead to a 13% rise, while reaching the highest target might yield a 22% gain.
Despite recent declines, especially in the past week, TRX’s six-month performance slightly increased. This suggests possible resilience and growth opportunities for astute investors. Moreover, TRX has been making waves in the cryptocurrency market with its impressive surge in network transactions, reflecting robust growth and increased adoption.
Furthermore, the total number of transactions on the TRON network has surpassed 8.1 billion. This indicates a bullish trend and growing confidence among investors. Consequently, this surge positions TRON as a potential top performer in the crypto space, with predictions suggesting it could reach $0.3 if the positive momentum continues.
Check out #TRON July 2024 Monthly Report! 🚀
✅ The #HackaTRON S7 has officially launched, with @googlecloud as a sponsor.
✅ #TRON was revealed as the title sponsor of @aba_summit #ABS2024.
✅The circulating supply of #TRC20–#USDT reached a record high of over 60 billion. pic.twitter.com/Xj0wet4RZG— TRON DAO (@trondao) August 3, 2024
A successful test above the $0.1445 resistance could push the price toward the next resistance level at $0.1528, offering potential growth up to 8%. Although technical indicators are currently bearish, this might be an opportune moment for investors to consider buying, as a rebound from the oversold conditions could lead to significant gains.
In other news, UQUID, a leading Web3 shopping platform, has introduced a feature allowing users to top up their SUBE cards with USDT on the TRON blockchain. This innovative move promises to reshape how Argentine commuters handle their transportation expenses.
2. eCash (XEC)
eCash (XEC), formerly BCHA, is a cryptocurrency created by the Bitcoin ABC team from a fork of Bitcoin Cash (BCH). Firstly, it uses the Avalanche consensus protocol, which enhances security and provides almost instant transaction confirmations. The rebranding introduced a new name and display format but kept the core functions of the cryptocurrency.
Moreover, the Avalanche protocol improves blockchain security and ensures quick transaction confirmations. It also makes future network upgrades easy, making eCash adaptable and ready for future changes. Additionally, eCash supports staking, allowing users to participate in network consensus and earn rewards. The platform also lets businesses and developers create custom tokens, called eTokens, for various applications.
https://t.co/JNRtj6mcvI V1.5.0 is here!
– New Contact Management feature allowing you to add any townhall poster or article author to your contact list
– Names of existing contacts will replace their eCash addresses in townhall and articles (like a local alias)
– Improved loading… pic.twitter.com/wmUpYCKvVV— eCashChat (@ecashchat) August 3, 2024
Currently, eCash is trading at $0.00003494, reflecting an increase of 2.27% in 24 hours and over 30% in the past month. It has maintained a positive trend, with 16 out of the previous 30 trading days being positive. Furthermore, looking ahead to 2025, some analysts predict a bullish market driven by favorable regulatory and technological trends.
Additionally, easing inflation and launching Ethereum ETFs may boost cryptocurrency adoption, positively impacting eCash. If the market stays bullish, the average price of eCash could reach around $1.15 next year, with a potential high of $1.50.
3. PlayDoge (PLAY)
The up-and-coming Shiba Inu rival, PlayDoge ($PLAY), is rapidly closing in on $6 million in presale funds. PlayDoge has much to offer, including its soon-to-launch P2E mobile game with ’90s nostalgia. It could soon replace Shiba Inu as the new major meme coin. Investors who have not yet noticed the smart money moving into the PlayDoge presale still have a chance to grab the token at $0.00525. However, the price is expected to rise within the next few days.
Moreover, given the attention PlayDoge has already garnered, it’s unlikely that the price will stay at its current level for long. The growing interest suggests more bullish activity once listed on a major exchange like Binance. This is entirely plausible, considering it’s built on the BNB Chain and is thus under the radar of the Binance listing team.
Additionally, PlayDoge is an exciting mobile game that will launch soon on Google Play and the Apple App Store. Unlike many games that bombard users with countless ads to push premium subscriptions, PlayDoge offers a modern twist on the ’90s highly addictive handheld classic Tamagotchi, featuring its own unique crypto elements. In the game, players care for, train, and feed their virtual Shiba Inu pets, with the added benefit of earning $PLAY while doing so.
https://twitter.com/PlayDogeGame/status/1818286195660476844
Furthermore, the best caretakers of their virtual Shiba Inu will be ranked on the game’s leaderboard, allowing them to earn more $PLAY. $PLAY can be used for in-game interactions or across the broader crypto market, giving it more utility than just a token in an investor’s wallet, like $SHIB. Lastly, the game’s development is ongoing, and additional features and utilities are expected.
4. Casper Network (CSPR)
The Casper Network, a well-known blockchain platform, has successfully resumed operations after a brief halt due to a security breach. Firstly, on July 31, 2024, at 3:18 pm UTC, 64 validators, representing 85% of the staked CSPR, reached a consensus. This decision allowed the network to restore its activities and address the challenges posed by the incident.
Moreover, the network administration removed two specific blocks containing four transactions. This action isolated and nullified their impact on the network’s integrity. Furthermore, a comprehensive upgrade was implemented to secure the network and prevent future breaches. This included deploying a new Casper-node binary and standard configuration files.
Validators played a crucial role by manually initiating the upgrade and synchronizing the new software across the network. This careful approach ensured all nodes were aligned and functional before resuming operations.
Dear Casper community,
We are happy to report that Casper has resumed consensus, and network transactions are being validated.
On 31 July 2024 at 15:18 UTC, 64 validators, representing 85 percent of CSPR staked on the Casper network, reached unanimous consent to resume…
— Casper (@Casper_Network) July 31, 2024
As a result, the CSPR price rose by over 2% in 24 hours and is gradually approaching its cycle all-time high of $0.016683. If the market remains bullish and Casper Network establishes significant partnerships, this third quarter could mark the beginning of a bullish run for the coin.
5. UNUS SED LEO (LEO)
UNUS SED LEO is a utility token within the iFinex ecosystem with advanced and unique features. Firstly, it has a notable technological innovation: a token buyback system. The iFinex exchange uses at least 27% of its monthly revenue to repurchase LEO tokens from the open market. This approach helps maintain the token’s value, unlike other cryptocurrencies that rely solely on supply and demand.
Moreover, LEO’s distinctiveness comes from its direct connection to Bitfinex’s profitability and its role in enhancing transparency. Bitfinex allocates a portion of its profits to buy back LEO tokens, ensuring stable demand. Additionally, regular token burns reduce the supply, which supports the token’s price. This system provides straightforward utility by helping users reduce trading fees and boosting investor confidence.
LEO has reached $5.76, rising steadily by 1.57% in the last day. It is now trading 48.23% above its 200-day SMA of $3.85. Over the past year, LEO’s price has increased by 44.05%, with 14 positive days in the last 30 days. The 14-day RSI stands at 41.04, indicating a neutral market sentiment.
Looking ahead to 2025, LEO shows promise due to positive regulatory trends and the growing utility of blockchain technologies. It could reach a high of $7.80, supported by promising developments, favorable market conditions, and increased crypto adoption. The average price is expected to be around $6.40, with minor fluctuations.
Read More
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- Staking & In-Game Token Rewards
- SolidProof Audited - playdoge.io
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