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The crypto market may experience a fresh round of rallies as prices of crypto assets posted a significant increase today. Bitcoin dropped 1.46% in the past week, while Ethereum made gains of 0.84%. The overall market sentiment looks bearish, as indicated by the Fear/Greed index of 60.
Today’s article explores the performance of cryptocurrencies that have dominated the top gainers list in the last 24 hours. The objective is to identify the next cryptocurrencies to explode and inform investors and traders about each token. Also included in the post is an overview of the market trend of crypto assets, which have the potential to post significant gains in the future.
Next Cryptocurrency To Explode
Crypto enthusiasts and analysts often prioritize assets that are most likely to return the best value on invested capital. Thus, this article includes an overview of the Slothana presale, which is about to go on exchanges, providing all investors with information about the project.
1. Wormhole (W)
Wormhole’s price, as of the time of writing, increased by 15.28% to $0.6083 on the last day. Even though it holds a small market share of 0.05%, it’s considered highly liquid, with a volume-to-market cap ratio of 0.6896. Its market capitalization stands at $1.14B with a 24-hour trading volume of $784.33M, showing its importance.
In the past week, it performed better than the overall crypto market, rising by 12.00%, although it slightly lags behind similar cryptocurrencies in the Ethereum Ecosystem, which increased by 12.70%.
In the last day alone, W’s trading volume rose significantly by 181.75%. If the price of Wormhole breaks above $0.6700 in the next two days, traders might consider buying to exit the consolidation channel. This could cause more people to buy, pushing the price of W higher, maybe reaching $0.9193 soon.
Wormhole’s recent launch of major blockchains such as Solana, Ethereum, Arbitrum, Optimism, and Base is also a big achievement. Now, the W token can work as an SPL token on Solana and an ERC20 token on Ethereum and other EVM-compatible chains.
Wormhole's W token is now natively multichain using the Wormhole Native Token Transfers (NTT) framework 💥
Native W is now available in SPL format on @Solana and ERC20 format on @Ethereum, @arbitrum, @Optimism, and @buildonbase. pic.twitter.com/pwaJohYGXT
— Wormhole (@wormhole) April 25, 2024
Wormhole’s double function makes moving the token between networks easier, removing the need for liquidity pools. It shows the completion of the second phase of Wormhole’s W token launch plan.
2. Slothana (SLOTH)
With less than three days left, the Slothana project has already raised an impressive $15 million during its month-long presale, which ended on April 29. This achievement shows the project’s promise and the growing interest in cryptocurrencies.
Last week, Slothana investors poured over $5 million into the project. This surge was likely influenced by the events of Saturday, April 20, which included Bitcoin’s fourth halving and International Stoner Day.
As the presale nears its end next Monday, announcing the airdrop date might spark more buying in the following weeks, possibly leading to substantial gains. The team is also actively seeking listings on exchanges, which could further boost the project’s potential.
The Slothana project is the first time stoner culture is uniquely represented in the crypto world. This adds an element of exclusivity and novelty that could make it a game-changer.
🎬🌵 Are you feeling lucky, sloths? 🎰 With just 3 days left in the presale, it's time to saddle up and make your move. Are you gonna sit there, or are you gonna join the ride to the moon with Slothana? The choice is yours. Make it count. 🔥🦥 #Slothana #memecoins pic.twitter.com/lnyqisy2EB
— Slothana (@SlothanaCoin) April 25, 2024
Various crypto communities have previously associated with 4/20. The “Doge Army,” devoted to Dogecoin, has embraced stoner culture, choosing April 20 as International Doge Day for its cheeky appeal.
Slothana doesn’t shy away from its stoner theme. Following the success of the Slerf token, Slothana features a sloth chained to a desk, eagerly waiting for 4:20. This unique concept and upcoming industry developments could lead to significant growth.
3. Near Protocol (NEAR)
NEAR Protocol, a quickly growing blockchain, has amassed over $309 million in Total Value Locked (TVL) and ranks among the top 20 valuable digital assets. With a fully diluted valuation of around $8 billion and a daily average traded volume of about $802 million, NEAR is gaining traction.
According to an analyst, NEAR Protocol shows promise, especially compared to Ethereum, due to its focus on artificial intelligence (AI). Last year, Illia Polosukhin, one of the Co-Founders of NEAR Protocol, highlighted AI as a significant focus for the platform heading into 2024.
NEAR Protocol offers a software solution to help developers create decentralized apps. It uses sharding to split the network into parts, making transactions faster and more scalable. Each computer, or node, handles only a part of the network’s transactions.
Chain Abstraction 🤜🤛 @DapDapMeUp
Powered by @NEARProtocol, DapDap is one of the first universal gateways that successfully realises the vision of a truly on-chain web with NEAR JS.
Read all about their collaboration together w/ @Scroll_ZKP ecosystem below 📜⬇️ https://t.co/QVzwqHyOie
— NEAR Protocol (@NEARProtocol) April 22, 2024
Moreover, NEAR’s price is $7.13, up 25.76% in the last week. Its trading charts show a past resistance level that might become support. According to the Elliott Wave sequence, the trend seems optimistic, with hopes for even higher highs. The key is to get involved early, especially during the ICO phase.
4. Baby Doge Coin (BABYDOGE)
Baby Doge Coin (BABYDOGE) has become one of the popular dog-themed meme coins following a tweet from Elon Musk. Even though the crypto market has been bearish, BABYDOGE surged by over 9.39% in the last 24 hours.
The sudden increase in Baby Doge Coin’s value can be attributed to the strong support for a new DAO proposal. This proposal aims to implement 0% fees for transactions, purchases, and sales on the BNB Chain.
Impressively, the proposal garnered more than 98.89% support from the community. Consequently, BABYDOGE can now compete with other leading meme coins like Floki (FLOKI) and projects based on Solana in terms of trading volume.
Additionally, the price of $BABYDOGE has been consolidating within a large triangular pattern for over two years. However, it recently showed signs of a bullish trend following a breakout from a long-term downward trend and a retest of the upper boundary of the triangle.
Exciting news, #BabyDogeArmy! We've heard you loud and clear!
Our new DAO proposal for 0% transfer/buy/sell fees across BNB chain is LIVE! 🌟
Let's make it happen
Vote now and let your voice be heard:https://t.co/j8Yq0uM1SQ pic.twitter.com/Ch4b5hW3g7
— Baby Doge (@BabyDogeCoin) April 24, 2024
During the past two weeks, the meme coin’s price has rebounded from the recent correction in the cryptocurrency market. Moreover, the weekly Relative Strength Index (RSI) bounced back from the 50 level for the first time.
Moreover, the sentiment for BABYDOGE price prediction is currently optimistic. The Fear & Greed Index is at 72 (Greed), indicating increased token transactions. Consequently, this suggests a growing confidence in an upward trend.
5. Helium (HNT)
Presently, HNT stands at $4.15, up by 17.05% in the last 24 hours. Its market dominance is at 0.03%, with a 124% surge over the past year. Helium’s trading is 83.47% above the 200-day SMA, hinting at possible overbuying. Although its 30-day volatility sits at 17%, liquidity remains robust, boasting a volume-to-market cap ratio of 0.0407.
Just a week ago, Helium’s price dipped below the 23.6% zone, signaling a bearish trend. During this time, there was minimal buying activity, and sellers kept adding short positions. However, the current week presents a shift for the better.
Despite the recent bearish trend, HNT’s price has soared by 126% over the past year, outperforming 65% of the top 100 crypto assets, including Bitcoin and Ethereum. Presently, the sentiment for HNT price prediction is bearish. Nonetheless, the Fear & Greed Index shows a reading of 70 (Greed), indicating increased token transactions and fostering optimism for a potential uptrend.
Moreover, Helium has launched Hotspots powered by 5G, enabling faster speeds and reduced latency. Ultimately, the project focuses on providing a realistic solution without making exaggerated claims.
📱Important Update: Helium Wallet App v2.7.5 (Android & iOS)
The v2.7.5 release addresses a bug where Hotspot reward claims for individual Hotspots were non-functional while claim all functionality was still operational. This issue is now fixed.
Please see v2.7.0 for details on… pic.twitter.com/xa56A7r9dN
— Helium🎈 (@helium) April 20, 2024
Individuals run hotspots to create a communal wireless network for IoT devices. Creating this network emphasizes decentralization and scalability. With more than 500,000 Helium LongFi Hotspots worldwide, the network is easily accessible and cost-efficient.
Helium Hotspots produce HNT tokens, incentivizing owners to maintain and expand the network. Furthermore, those holding HNT tokens can stake them to operate validator nodes, enhancing network security and governance. If it can fulfill every expectation and the market stays bullish, we believe it will be among the upcoming cryptocurrencies to explode.
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