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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. UNUS SED LEO (LEO)
UNUS SED LEO is a utility token recognized for its advanced features within the iFinex ecosystem. One of its key innovations is the token buyback system. iFinex uses at least 27% of its monthly revenue to repurchase LEO tokens from the open market. This strategy helps maintain the token’s value, which sets it apart from other cryptocurrencies that rely solely on supply and demand.
Moreover, LEO’s value is closely linked to Bitfinex’s profitability and its commitment to transparency. Bitfinex allocates a portion of its profits to buying back LEO tokens, ensuring consistent demand. Additionally, regular token burns reduce the overall supply, supporting the token’s price. This system also lowers trading fees for users and boosts investor confidence.
Currently, LEO is priced at $5.88, with a slight increase of 0.03% in the past day and 1.87% over the past week. It trades 50.38% above its 200-day Simple Moving Average (SMA) of $3.85. Over the past year, LEO’s price has risen by 47.17%, with 16 green days in the last 30 days. The 14-day Relative Strength Index (RSI) is 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 favorable market conditions and increasing crypto adoption. The average price is expected to be around $6.40, with minor fluctuations.
2. Amp (AMP)
The AMP price experienced a significant surge of around 550% during the first quarter. However, as the market momentum slowed, AMP followed suit and saw a similar decline. Over the past five months, AMP erased all its gains from the Q1 pump, indicating a strong bearish reversal in the crypto market. Despite this, the AMP price saw an intraday jump of 11.13%, bringing it close to its resistance/support level of $0.004150, suggesting a potential reversal.
In the 1D time frame, the AMP coin price has formed a falling wedge pattern and has been trading within this pattern since mid-April. The altcoin is now hovering close to its resistance trendline, and with the recent 11% jump, it is on the verge of testing this level, though the outcome remains uncertain.
AMP trades at $0.004153, with a circulating supply of 80,722,574,661 AMP and 99,213,408,535 AMP tokens. It holds the 144th position in the market with a capitalization of $327.03 million. The 50-day EMA consistently acts as resistance on the AMP price chart, indicating strong bearish sentiment in the market.
On the other hand, the MACD indicator shows a steady rise in the green histogram, with its averages pointing to bullish action. This creates uncertainty about AMP’s future price movement. If the market can maintain the AMP price above its support level of $0.004150, the bulls may regain momentum and test the resistance level of $0.006595. If the price holds at that level, AMP could reach its upper high of $0.009100.
3. PlayDoge (PLAY)
With over $6 million raised, PlayDoge ($PLAY) announced that its presale will end on August 26 at 10 am UTC. The decision to close the fundraising early comes as the team is set to launch its mobile P2E game ahead of schedule, thanks to quicker-than-expected development.
Time to scrub and clean your adorable doge! 🐶 🛁
Last chance to load up on $PLAY in the presale.
Time’s running out. ⏳
BUY NOW 👉 https://t.co/JT0VEofqf2 pic.twitter.com/cwjQQuYCNB
— PlayDoge (@PlayDogeGame) August 16, 2024
PlayDoge has become one of the most anticipated ICOs of 2024, largely due to its Tamagotchi-inspired game. PlayDoge brings a fresh twist by incorporating cryptocurrency into the virtual pet care experience. Players earn $PLAY as a reward for nurturing their pets, adding a financial incentive to the gameplay.
What sets PlayDoge apart from most P2E games is its focus on token utility. Many Web3 games have struggled due to limited token use or because players are mainly interested in cashing out their earned tokens. In contrast, PlayDoge’s $PLAY tokens offer many possibilities as the game develops. While $PLAY is the main in-game currency, its potential is vast. Players can purchase stylish doghouses, accessories, treats, skins, or mini-game tools.
As the presale draws to a close, the community is eagerly awaiting the announcement of the token claim date, with excitement building to trade what some are already calling the next Dogecoin ($DOGE). Details are expected to be revealed once the presale ends. With just nine days left, investors have a limited time to purchase $PLAY tokens at the current low price. Once the presale concludes, the engaging gameplay and strong token utility could lead to significant returns, making this an ideal time to invest before prices rise.
Visit the PlayDoge Presale Now
4. TRON (TRX)
TRON (TRX) has seen a modest increase of 3.12% in the last 24 hours and a 4.92% rise over the past week. This points to a neutral trend, reflected by a 14-day RSI of 32.79. Currently, TRX is trading around $0.1358, which is above its 200-day moving average of $0.120228, indicating potential for recovery. Key resistance levels are at $0.1415, $0.1445, and $0.1528. Breaking the first resistance could lead to a 15% increase, while reaching the highest target might result in a 22% gain.
Despite recent declines, particularly over the past month, TRX’s six-month performance slightly increased. This suggests resilience and potential growth opportunities for investors. Additionally, TRX has been gaining attention in the cryptocurrency market due to its impressive rise in network transactions, which highlights robust growth and increased adoption.
Furthermore, the TRON network set a new annual record by processing 7.99 million transactions in a single day last week. The analytical platform IntoTheBlock noted this achievement, marking a peak in TRON’s transaction volume for the year.
🚀 NEWSFLASH! The latest report from Messari Crypto reveals that USDT transactions on the TRON Network hit a new all-time high of $57.1 billion in Q2! Among Uquid users, @trondao remains the top choice, with an impressive 59.72% surge across LATAM in June 2024! 🌍
And the growth… pic.twitter.com/dOnTi4xQI2— UQUID (@uquidcard) August 16, 2024
The surge in activity on the TRON blockchain underscores its growing adoption and expanding role in the digital economy. With a consistent daily average of over 7 million transactions, TRON demonstrates its ability to handle large volumes of blockchain activity, reflecting its scalability and the increasing demand for its services.
5. Bitget Token (BGB)
Bitget Token (BGB) has quickly become recognized in the crypto community, and its relevance may grow as the market faces downturns. As the native token of the Bitget exchange, BGB plays an important role in the ecosystem, offering users benefits such as reduced trading fees, access to exclusive features, and participation in platform governance. BGB’s growth potential is appealing, even in a bearish market.
In the past 24 hours, Bitget Token has seen a modest increase of about 1.59%, with prices ranging from $0.9198 to $0.9354. At the time of writing, the token was trading at $0.9198, while the trading volume rose by 4.55% to $26 million.
As the DeFi space expands, the utility and value of tokens like BGB are closely linked to the success of the platforms they support. The Bitget exchange has been growing its user base globally, which could drive continued demand for BGB, even during challenging market conditions.
Get ready for our 3-day roulette giveaway! 🎉
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2⃣ Screenshot where Bunz's hand points on BGB & share it in the comments below with #BitgetFreeTreatsGood luck! pic.twitter.com/DbORUPqnXU
— Bitget (@bitgetglobal) August 17, 2024
Crypto analysts remain cautiously optimistic about BGB despite the current market downturn. Given the token’s utility within the Bitget ecosystem and the exchange’s growth, BGB could see a significant increase in value over time. Some experts believe that BGB could potentially double in value by the end of the year, especially if Bitget successfully navigates the current market challenges. However, due to market volatility, investors should be cautious and conduct thorough research before making investment decisions.
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