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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 $70K and above, and Ethereum (ETH) is striving to stabilize at $2,700.
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. Celestia (TIA)
Celestia (TIA) was on the verge of succumbing to bearish pressure, but the bulls recently took control, leading to an impressive 21.91% recovery in the past 24 hours. This brought the current trading price up to $5.61. Although the bulls are pushing to raise the price further, bearish forces might cause Celestia’s momentum to stall at a critical point on the charts.
Since June, Celestia’s price has been in a consolidation phase. It is trading above the 200-day EMA, which shows the bulls have maintained a steady hold. A bullish reversal could be seen in the coming weeks if Celestia can break above these key levels. However, if it fails to do so, the price might drop further before entering the oversold territory. The altcoin’s Relative Strength Index (RSI) is at 38.41, close to the oversold region, suggesting a potential short-term bounce.
According to online data, Celestia’s Open Interest (OI) has increased by over 30.43% in the last 24 hours. This rise in OI and the recent price increase indicate that market participants are buying TIA, which is a positive sign for the asset. Additionally, data from CoinMarketCap shows that TIA’s daily trading volume has jumped by 64.89%, reflecting heightened trading activity. If this trend continues, the price rise is likely to be sustained.
Celestia’s first upgrade, Lemongrass, is coming. 🍵
Developed and coordinated with the community, Lemongrass includes 1-click Tia interactions with other IBC chains, Interchain accounts, and a new upgrade mechanism. pic.twitter.com/Lu6f3vWeU9
— Celestia (@CelestiaOrg) August 8, 2024
Celestia’s price trend appears neutral, with the potential for a short-term bounce. Short-term traders might find breakout opportunities, while long-term traders should wait for a more definitive trend reversal above the 50-day EMA.
2. Sui (SUI)
Over the past 24 hours, Sui (SUI) has seen its price rise by 30.20%, reaching $0.8424. This increase follows a positive trend over the past week, where the coin gained 25.52% despite a generally bearish market. During this period, SUI moved from $0.69 to its current price. However, it is still far from its all-time high of $2.17.
In addition, the trading volume for SUI has surged by 51.57% over the past day. The overall circulating supply has slightly increased by 0.01% to approximately 2.60 billion, representing 25.96% of its maximum supply of 10 billion coins. Currently, SUI ranks #33 in market cap, with a valuation of $2.19 billion.
Sui is a promising Layer 1 blockchain platform that has attracted attention for its efficient and secure digital asset management. Known for its scalable solutions, Sui boasts a high Total Value Locked (TVL), indicating strong performance. As of press time, Sui is priced at $0.8424, with a market dominance of 0.08%.
🚨BREAKING NEWS: @Grayscale launches a new SUI fund!
World-renowned institutions are diving into Sui! Cutting-edge tech, unmatched utility, and its builders creating the internet of the future.
Huge kudos to Grayscale for moving on SUI!
by @TheBlock__ https://t.co/YbtGIojLLH
— Sui (@SuiNetwork) August 7, 2024
On March 27, 2024, Sui reached its all-time high of $2.18, while its all-time low was $0.363977 on October 19, 2023. Since reaching its all-time high, the lowest price observed was $0.58554 (cycle low), and the highest was $0.765548 (cycle high).
The current sentiment for Sui is bullish, supported by a neutral Fear & Greed Index score of 48. The yearly supply inflation rate stands at 266.18%, showing a significant increase in supply. Moreover, the Relative Strength Index (RSI) indicates a sharp uptrend from the oversold range to its midpoint, reflecting increased buying pressure. The average shows a bullish convergence, suggesting that Sui’s price may continue to rise this week.
3. Pepe Unchained (PEPU)
Pepe Unchained ($PEPU) has quickly gained attention in the crypto world, raising over $7.83 million in presale funds. It is on track to reach $8 million before the close of the week. This new meme coin has made a strong impression, pulling in substantial funds just a month after its presale launch.
$PEPU stands out for two reasons: it’s the first meme coin Layer 2 on Ethereum, and this Layer 2 solution will make owning a Pepe cheaper and faster. Once the presale ends, investors will see the game-changing potential of Pepe Unchained’s Layer 2 technology in action.
Pepe Unchained is set to revolutionize the market with its Layer 2 solution, operating as its blockchain with a unique consensus mechanism and blockchain explorer. This new chain is designed to lower costs and speed up transactions, offering a volume capacity 100 times greater than Ethereum’s. Adopting the Layer 2 approach is crucial for Pepe to achieve transactional efficiency, especially since the high gas prices on Ethereum were a significant issue earlier this year.
Pepe is gearing up to surf his own Layer 2 blockchain – the first of its kind! 🐸🌊 pic.twitter.com/T41V8wNDBh
— Pepe Unchained (@pepe_unchained) August 8, 2024
For those interested in supporting the project, $PEPU is currently available for $0.0089461. However, this price will soon increase to $0.00898190 as the presale moves into its next round in less than 5 hours. Several indicators point to PEPU’s potential as one of the upcoming cryptocurrencies to explode. Once you purchase your tokens, you can immediately stake them and earn passive income with an impressive annual percentage yield (APY) of 256%.
4. QuarkChain (QKC)
On July 28, the QKC token saw its price rise from $0.008 to $0.014, and since then, it has gained over 24%. As of today, August 9, QKC is trading at $0.01103, marking an impressive 70% increase in just 24 hours. The token’s market capitalization now stands at $77.45 million.
QuarkChain is focused on addressing some of the major challenges older blockchains face. While Bitcoin and Ethereum have successfully achieved decentralization, they have struggled with scalability and flexibility. On the other hand, projects like XRP and USDT offer high scalability but are centralized, which doesn’t align with the ideal vision of the crypto world. QuarkChain aims to bridge this gap by solving these issues.
QuarkChain aims to achieve a staggering 100,000 transactions per second, making it one of the most scalable blockchains available. It is already processing around 55,000 transactions per second, which is a significant improvement over older networks. QuarkChain’s two-layer system allows anyone to mine its tokens, whether experienced or just starting, regardless of your mining equipment. Additionally, it will enable users to mine in either the root chain or a shard, adding further flexibility.
Looking at current data, QuarkChain and its market environment have shown a bullish trend over the past 12 months. By 2025, QKC’s price could range between $0.0099 and $0.0159. If it reaches the higher end of this range, it could experience a boost of up to 59.31% from its current value.
5. Sei (SEI)
The crypto market has been under pressure lately, and Sei’s price dropped by 1.14% over the past week. Despite this decline, the trading volume surged by 210%, indicating increased market activity. However, the situation is improving for the altcoin market, with SEI recording gains of over 15.5% in the last 24 hours. Additionally, daily trading volume saw a significant increase of about 83.72%, reaching approximately $126 million.
A key feature of Sei V2 is its enhanced compatibility with other blockchains, allowing for seamless integration and interoperability. This is particularly important as the blockchain world becomes more interconnected, with users wanting the ability to move assets and data across different platforms easily. Sei V2’s improved EVM compatibility allows developers to easily transfer their decentralized applications (dApps) from Ethereum to other compatible blockchains, broadening their reach and potential user base.
These days, anyone can build a blockchain.
What sets you apart is the relentless pursuit of excellence and the power of a community like Sei's.
Seiyan mode activated 🔴💨 pic.twitter.com/PJyLfQSK35
— Sei 🔴💨 (@SeiNetwork) August 8, 2024
Sei V2 also introduces new tools for developers, including advanced debugging options and more efficient smart contract execution. These tools are designed to simplify the development process, reduce errors, and improve the overall quality of dApps. This allows developers to bring their innovative ideas to market faster and more confidently.
Meanwhile, Sei Network has partnered with AIOZ Network to enhance its decentralized infrastructure solutions, aiming to provide seamless infrastructure-as-a-service options. This partnership is set to simplify the development and deployment of decentralized applications, marking a significant step forward for the Sei ecosystem. With solid fundamentals and partnerships, SEI could be the next crypto to explode.
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