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Cryptocurrency prices have been fluctuating for a while, and the overall feeling in the market is bearish. Bitcoin (BTC) has managed to surge past $60K, while Ethereum (ETH) has managed to stabilize above $2,500.
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. Fantom (FTM)
October has started strong for the cryptocurrency market, and Fantom (FTM), a leading layer one project, is standing out with an impressive performance. After a rally last month, FTM has surged by 8.58% today, continuing its upward trend. The upward movement for Fantom began on September 10, when it broke out of a falling wedge pattern. This key technical move allowed Fantom to surpass its downtrend line at $0.4570. Since then, its price has soared to $0.7549, marking a 65% increase from the breakout point.
Analysts believe that Fantom (FTM), one of Ethereum’s competitors, could see further growth with the introduction of its new Sonic technology. This technology could drive Fantom to new all-time highs. Many long-term investors are excited about the potential of Sonic technology, which is expected to enhance Fantom’s network. As a result, many in the crypto world are closely watching Fantom’s progress.
If Sonic technology rolls out successfully, Fantom could reach $3 or even $4, accelerating its growth. Sonic will improve the network by boosting its processing capacity to 2,000 transactions per second and reducing storage needs by 90%, making it a strong competitor in the blockchain space.
Travel back to the 80s and start earning points for the $S airdrop, currently worth ~$130 million!#SonicArcade features 3 play-to-earn games initially — Plinko, Mines, and Wheel — each offering airdrop points.
🕹️ https://t.co/YoUPmlKy9d pic.twitter.com/nv8BMp4L50
— Sonic Labs (prev. Fantom) 💥 (@0xSonicLabs) September 30, 2024
Today’s surge in FTM comes after it broke through a resistance level at $0.7355, opening the door for further gains. The next target for Fantom is $0.8549, which would represent a potential rise of over 16% from its current price.
2. Echelon Prime (PRIME)
Echelon Prime, the gaming ecosystem behind Parallel (a Sci-Fi world and card game), is gaining attention with its PRIME token. The token has seen a 3% price surge in the last 24 hours, pushing its value to $10.97. Liquidity is also improving, as shown by its market cap-to-volume ratio of 0.0407. Moreover, its recent performance shows stability. The 14-day Relative Strength Index (RSI) is 65.68, indicating that the token is in neutral territory and may continue to move sideways for now.
In the long term, PRIME is trading well above its 200-day simple moving average, standing 162.40% higher than its $4.13 mark. This highlights the strong momentum the token has maintained over time. Over the past year, PRIME has gained 157%, outperforming 71% of the top 100 cryptocurrencies by market cap.
Today, Echelon Prime is set to unlock nearly 752,000 PRIME tokens, which represent 0.68% of the total token supply. This unlock is valued at $7.71 million, making up 1.57% of the fully diluted market cap, which stands at $1.13 billion. So far, Echelon Prime has unlocked 37.4% of its total token supply, according to Crypto Rank.
Token unlocking is crucial as it can impact buying and selling pressure for investors. As tokens are unlocked, some investors may choose to sell and take profits, which could lead to price drops for the coin.
3. Pepe Unchained (PEPU)
Pepe Unchained ($PEPU) is drawing attention after raising over $16.5 million in its recent fundraising, having crossed the $15 million mark just five days ago. As the project celebrates its three-month anniversary, it shows strong potential, much like $NEIRO after its ICO. If $PEPU gets listed on Binance’s spot market, its current price of $0.0099 could present a great opportunity for investors seeking significant returns.
The fundraising efforts for Pepe Unchained are picking up speed, bringing in over $1.5 million each week. If the project surpasses $17 million before Wednesday, the weekly total will exceed $2 million, potentially gaining even more momentum as development progresses. Excitement is building as investors eagerly await the launch of Pepe Unchained’s upcoming Layer 2 chain, with social media teasers adding to the buzz.
The success of Pepe Unchained’s presale is largely due to its rapidly growing community. Since its ICO in June, the project has gained around 15,400 new followers on X daily, nearing the 45,000 followers of its predecessor, Pepe ($PEPE).
Unlike many meme coins, Pepe Unchained offers real utility through its blockchain, leading to a new wave of meme tokens. As a Pepe-themed coin, $PEPU has a special appeal. As a result, popular crypto experts and analysts believe $PEPU could ride the Pepe narrative into 2025.
Pepe Unchained L2 Sneak Peek!
What we're building is not just a new chain, but an entire ecosystem.
🐸Pepe Unchained L2
🐸Block Explorer
🐸DEX
🐸Bridge
🐸Advanced Analytics
🐸Builder GrantsPepe Unchained is coming. And it's going to shake up the crypto space. pic.twitter.com/ZVnvgO6MGF
— Pepe Unchained (@pepe_unchained) September 26, 2024
Pepe Unchained also introduces a Layer 2 solution on Ethereum, reducing gas fees and speeding up transactions by up to 100 times. This innovation opens up possibilities for new tokens with Pepe’s meme appeal. However, for those considering investing, the price of $PEPU will rise above $0.0099 in less than two days as the next funding round begins.
Visit the Pepe Unchained Presale
4. Beam (BEAM)
Beam is making strong strides in blockchain gaming by welcoming ArcadiaGamesIO and BalliesUniverse into its ecosystem. ArcadiaGamesIO is now building on Beam, allowing users to play classic games like Chess and Checkers on-chain against other players. Additionally, BalliesUniverse is launching on Sphere, a web3 sports gaming platform that offers strategic games, mini-apps, and iGaming. Their collection, which will be released on Immutable zkEVM, is now part of the BuildOnBeam initiative.
At the moment, Beam is trading at $0.02019, reflecting a 3.72% increase in the past 24 hours. Moreover, Beam has experienced 17 green days in the last 30 days, indicating that more than half of those days saw a price increase, pointing to a positive market trend. Beam also has high liquidity relative to its market cap, making it appealing to traders and investors.
A new chapter for $BEAM governance.
Explore the all-new governance forum, and Snapshot page. https://t.co/sA5RW04Wlu
— Beam (@BuildOnBeam) September 30, 2024
Interest in BEAM has been growing steadily. According to CoinMarketCap, its market cap has risen by 3.66%, reaching $1 billion, placing it 69th among the top 100 cryptocurrencies. Demand is also growing, as shown by an increase in spot trading activity. While there are few long-term holders, traders and cruisers remain active, with whales holding over 70% of the circulating supply.
5. Electroneum (ETN)
Electroneum is a Layer 1 blockchain that is compatible with Ethereum Virtual Machine (EVM) and serves over 4 million users worldwide. The network offers quick transaction speeds, taking just 5 seconds with instant finality, and it has some of the lowest smart contract fees in the market. It uses the Istanbul Byzantine Fault Tolerance (IBFT) consensus mechanism, making it fast, secure, and energy-efficient. Well-known validators, including universities and Web3 infrastructure companies, support the network.
For several years, Electroneum’s ETN token has powered AnyTask.com, helping the platform use blockchain technology to create a fairer and more efficient experience for freelancers around the globe.
Electroneum, perhaps the most responsible blockchain.
ETN is possibly the only cryptocurrency whose network is run by Non-Governmental Organisations (NGOs). NGOs run the validator nodes and receive the block rewards for maintaining the blockchain. We call this new protocol Proof… pic.twitter.com/tPSfE2kyTP
— electroneum (@electroneum) October 1, 2024
Today, the price of ETN is $0.002832, following a 16.32% increase in the last 24 hours. Its market cap has grown by over 16%, reaching $50.93 million, while its daily trading volume has risen by 30.83%, now at $747.33 million. ETN is trading 47.42% above its 200-day simple moving average (SMA) of $0.001921, showing a bullish trend.
With strong fundamentals and a supportive crypto community, ETN has the potential for further growth. If the project announces collaborations with other networks, its token price could surpass $0.01 by 2024. If the current bullish market continues, the average price of ETN could stay around $0.01532.
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