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Cryptocurrency prices have been on the rise lately, and the overall feeling in the market is favorable. Recently, Bitcoin (BTC) has been hovering around $60K, and Ethereum (ETH) is striving to approach $3,000, creating mixed sentiments among investors.
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 Base Dawgz, one of the newest memecoin launches on the Base Network. It features a distinctive multi-chain experience with smooth interoperability across various blockchains. The details of its presale and the performance of the top-performing cryptos today are shared below.
1. Beam (BEAM)
Beam is a blockchain tailored for gaming, making game development easier and improving player experiences. It uses the BEAM token, supported by the Merit Circle DAO. With tools like the Beam SDK, developers can easily integrate Beam into various applications.
Over the past year, BEAM’s price surged by more than 187.45%, moving from the lower to the higher border. However, it hit resistance at the higher border, aligning with the 50-day EMA band. According to CoinMarketCap, BEAM’s market value rose 11.07%, while its trading volume increased by 143.70% in the last 24 hours. BEAM has a market value of $699.291 million and a trading volume of $23.414 million, making it the 82nd largest cryptocurrency by market cap, with a high liquidity ratio of 0.0335.
Excited to have another studio joining the @BuildOnBeam family!
They're bringing two games to the Beam network, excited to see it come to fruition 🌈 https://t.co/HOkPvPV8KR
— Merit Circle (@MeritCircle_IO) August 9, 2024
At press time, BEAM traded at $0.01414, showing a slight downtrend with a 3.92% decline over the past month. The daily chart reflected this downward movement, which displayed consistent lower lows, indicating a strong bearish trend. However, this trend might be ending as recent weekly and daily charts show small but steady gains.
If BEAM’s price sees a resurgence, it could face higher-level resistance, potentially causing a pullback to previous lows. However, if market momentum and investor sentiment improve, BEAM could reach $0.05. With future upgrades and advancements in the Beam ecosystem, BEAM might surpass its current all-time high of $0.03014 and set a new record.
2. Pyth Network (PYTH)
Pyth Network is a blockchain-based oracle that provides real-time data feeds for decentralized applications (dApps). Its primary focus is delivering high-quality market data, essential for various applications across multiple blockchains. However, despite its innovative approach, Pyth has seen a decline in market interest, leading to a significant price drop of around 75-79% from its recent highs.
This downturn, however, is a prime opportunity. Pyth is currently trading at approximately $0.30, which seems undervalued given the project’s potential, especially with its integration across more than 70 blockchains. Pyth Network aims to be the leading platform for futures trading on blockchain networks. Recently, the native token, PYTH, saw a 6.60% increase in the past week, bringing its value up to $0.3017.
In addition, Pyth has surpassed $600 billion in cumulative trading volume. With this organic growth, the trading volume is expected to rise significantly. Current indicators like the RSI and MACD suggest cautious optimism. However, a consistent upward trend could push PYTH past its resistance, making it a token to watch in the upcoming altcoin season.
“With Pyth’s pull oracle and decentralized price feeds, scam wicks seen on other platforms are eliminated and enable FUNDED to offer a transparent and trustworthy trading experience to its users.”
FUNDED, by @foxifytrade, is a fully decentralized application enabling users to…
— Pyth Network 🔮 (@PythNetwork) August 9, 2024
Previously, Pyth Network gained substantial value during the early days of the bull market. At its peak, PYTH was valued at over $1. Analysts believe the token could soon regain this value if it continues on its current path.
3. Base Dawgz (DAWGZ)
Base Dawgz ($DAWGZ) has kicked off August with impressive momentum, raising over $2.8 million in presale funds. This growth is closely tied to the success of its parent chain, Base, which saw a 56% increase in July. As Base expands, the Shiba Inu-themed meme coin is gaining popularity. The presale price of $0.007414 per $DAWGZ token won’t last long, as another price increase is expected within the next two days. Since the presale began, $DAWGZ has already appreciated by 60.5%.
And Base Dawgz season will follow suit 🪂 https://t.co/q8YdSNvEw7
— Base Dawgz (@BaseDawgz) August 8, 2024
Base Dawgz is not just making waves in the crypto world but is also entering the political arena. The Layer 2 platform has started accepting on-chain donations, with 13 U.S. politicians reportedly signing up to receive crypto contributions. As Base broadens its influence in politics and expands its lineup of meme coins, focusing on a Shiba Inu-themed coin like Base Dawgz could be strategic.
Moreover, Base Dawgz plans to extend its reach across multiple blockchains using Wormhole and Portal Bridge technology. This innovation allows Base Dawgz to move seamlessly between Base, Ethereum, Solana, Avalanche, and BSC, accessing more liquidity and potentially driving its price higher.
Analysts and experts predict that $ DAWGZ’s price could surge once it hits a major exchange. Those who haven’t invested should consider doing so quickly before the opportunity passes. To get started, visit the Base Dawgz website, connect your wallet, and purchase $DAWGZ using Base (ETH, USDC), ETH (ETH/USDT), SOL, BSC (BNB/USDT), or AVAX. You can also stake your tokens for substantial rewards, with an impressive 1,146% APY.
4. ZetaChain (ZETA)
ZETA is currently priced at $0.7019, reflecting a significant 53.25% increase over the past week. In the last 24 hours, it has risen by 17%; over the past year, it has gained 27.84%. Despite these gains, ZetaChain is still trading below its 200-day Simple Moving Average (SMA), indicating a bearish trend. However, the overall sentiment remains bullish, and the daily trading volume has surged by 185.86%, showing increased token transactions and growing optimism for an upward trend.
ZetaChain focuses on enhancing cross-chain connectivity and promoting the broader use of Bitcoin in decentralized finance (DeFi). The company aims to help developers create unique applications that harness the potential of Ethereum’s smart contracts and the security of Bitcoin’s network.
Web3 composability is “limited to contracts on the same chain”, @Delphi_Digital writes. “ZetaChain, however, extends this composability to all chains, including those without native smart contract support, such as Bitcoin and Dogecoin.” https://t.co/5cuSWTyu1o
— ZetaChain (@zetablockchain) July 29, 2024
Additionally, ZetaChain has shown solid price movements over the past 24 hours and 30 days. This stability reassures investors of its potential for both short-term and long-term profitability. Its commitment to interoperability and secure architecture has garnered a loyal community in the cryptocurrency market. Moreover, ZetaChain’s dedication to user support has helped it retain and grow its user base.
5. Livepeer (LPT)
Livepeer (LPT) is making a comeback, with a 10% growth in the last 24 hours and a steady 5.67% rise over the past week. The current price stands at $12.31. Its market capitalization has reached $416.44 million, supported by a trading volume of $30.44 million, which saw a 146.84% increase in the last 24 hours. LPT’s strong market presence is further emphasized by its circulating supply of 33,839,033 tokens.
Livepeer is a fully decentralized live video streaming network protocol. It offers an economically efficient alternative to centralized broadcasting solutions that appeal to new and established broadcasters. Producers can submit their work on this platform before reformatting and distributing it to users and streaming platforms. This decentralized approach reduces costs and enhances efficiency, making Livepeer an attractive option for broadcasters.
Exciting news!
Livepeer is partnering again with @encodeclub to shape the future of AI.
Join the AI & GPT Bootcamp starting Aug 19th and gain special access to Livepeer's Grant Program upon completion.
Innovative projects are eagerly anticipated!
📅 Apply now! https://t.co/Lc81nf0viL
— Livepeer (@Livepeer) August 8, 2024
This video-streaming network protocol has captured significant investor interest, positioning it as a top-performing altcoin after the recent bearish market. Launched in 2017, Livepeer is the first decentralized and open-source live video streaming platform. Its native token hit an all-time low of $0.42 in March 2020. However, during the 2021 bull run, LPT surged to an all-time high of $100.24 on November 9, 2021.
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