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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. ConstitutionDAO (PEOPLE)
ConstitutionDAO was a crowdfunding initiative started by web3 enthusiasts. They aimed to buy an original copy of the U.S. Constitution at a Sotheby’s auction. Although they did not win the bid, the PEOPLE token, representing an interest in ConstitutionDAO, has grown into a historically significant decentralized autonomous organization (DAO).
Moreover, the token’s community-focused strategy has led to a significant increase in its price since its launch. In the last 24 hours, PEOPLE has shown gains of over 9%, indicating its short-term potential. Over the year, it has increased by 96% and 600%, highlighting its long-term growth. This rapid rise in popularity is due to viral marketing campaigns featuring Nicolas Cage memes, listings on major exchanges, and a robust and active community.
Despite a recent drop in the last 24 hours, ConstitutionDAO has generally maintained its gains over a longer period. The critical question is whether the token can continue its upward trend and reach new highs by the third quarter of 2024. This is possible if the bulls can sustain their momentum despite potential selling pressures in the broader cryptocurrency market.
Though PEOPLE recently fell below its $0.10 support level and has struggled to exceed this threshold in the past two days, analysts believe that ConstitutionDAO will rebound and surpass its all-time high, driven by the bullish impact of Spot Bitcoin ETFs. The token’s recent performance has enhanced its attractiveness as an investment option.
2. SafePal (SFP)
SafePal, a cryptocurrency wallet launched in 2018, aims to help users protect and grow their digital assets. It operates on the BNB Smart Chain (BEP20) and offers software and hardware wallets accessible through the SafePal app. SafePal’s native token, SFP, has shown strong price growth since the start of the year, reflecting positive market sentiment. Despite a 7.86% drop over the past week, it boasts a Year-to-Date (YTD) return of 59.54%.
SafePal is known for its secure and user-friendly crypto wallets. Binance supports it, and it enjoys significant credibility and market reach. SafePal continues to expand its product offerings and integrate more assets, making it attractive to traders seeking quick gains in the competitive crypto market.
📢Excited to partner with @MultiversX, a sovereign blockchain for next-gen apps 🙌
MultiversX mainnet is integrated in the @iSafePal mobile & hardware wallets, with browser extension & collabs to follow
📚: https://t.co/q9PjqcCWOL
📱DL App: https://t.co/fBj8jI9ied#SFP #EGLD pic.twitter.com/mVT2R8OlB6— SafePal – Crypto Wallet (@iSafePal) July 5, 2024
The SFP token is experiencing a bullish reversal with a steady upward trend. After a decline in early 2022, the token is gradually recovering. It has surpassed the 50-week EMA and faces resistance at the $0.85 supply zone.
According to Fibonacci levels, there is consolidation between $0.85 and the 23.60% level at $0.688. The ongoing uptrend could lead to a breakout, as the MACD indicator signals a bullish crossover, and the 50-week EMA provides consistent support. If this breakout occurs, the token could reach the $1.66 mark, targeting the overhead Fibonacci levels.
3. PlayDoge (PLAY)
PlayDoge ($PLAY) is attracting considerable interest, having raised $5.3 million during its presale. This success reflects investor confidence. The presale is structured into 40 phases, each increasing the token price slightly. Currently, $PLAY tokens are priced at $0.00515 each, and the next phase is approaching soon.
Dogecoin was the first meme coin, leading to the popularity of dog-themed meme coins. These coins have consistently performed well and remain a favorite niche for developers. Many have seen significant success over the years, and this trend shows no signs of stopping. Given this trend, it’s no wonder that investors are excited about the new PlayDoge ($PLAY) project. The ongoing presale phase has hit several milestones, indicating a bright future.
A key aspect of PlayDoge’s appeal is its well-planned tokenomics. Of the total 9.4 billion $PLAY tokens, 50% are allocated to the presale. This strategy raises initial funds and ensures wide distribution among early adopters, building a solid community.
Furthermore, 12% of the tokens are dedicated to staking, offering substantial rewards to investors and promoting long-term holding. This helps stabilize the token price and supports network security. The project has also reserved 10% of the tokens for development funds, ensuring ongoing innovation and covering operational costs. Community rewards account for 6.5% of the tokens, encouraging user engagement and loyalty.
PlayDoge is preparing to launch a new mobile game after the presale concludes. This game is a modern remake of the classic Tamagotchi Pets, which sold over 90 million copies worldwide and holds a special place in the memories of many adults. In this updated version, players care for their virtual pets by feeding them, playing with them, and completing mini-games. Additionally, they will earn $PLAY tokens for their efforts.
4. Hivemapper (HONEY)
Yesterday, HONEY, the native token of the Solana-based decentralized mapping project Hivemapper, saw a significant increase of over 40% while other cryptocurrencies experienced a downturn. Although HONEY rose by 43%, it experienced a slight decrease of 6.75% and is currently trading at $0.06606. The daily trading volume of this crypto asset increased more than 16 times, reaching approximately $7.2 million.
Despite this impressive rise, HONEY is still 81% below its all-time high of $0.4315, which was achieved on December 7, 2022. The decentralized mapping network has a circulating supply of 1.9 billion HONEY tokens out of a total supply exceeding 6.3 billion.
Hivemapper, a prominent entity in the Decentralized Public Infrastructure (DePIN) space, aims to surpass Google Maps, which has over a billion monthly active users. Hivemapper collects mapping data from contributors who use Hivemapper dashcams in their vehicles. As these contributors drive, they map the roads and earn HONEY tokens. The amount of tokens rewarded depends on the demand for mapping specific roads.
This cat is dripping in honey! 😻🍯 https://t.co/aCYy9wfK0N
— Hivemapper (@Hivemapper) July 2, 2024
Both drivers and individuals who verify the mapping data submitted by volunteers benefit from this system, receiving payments in HONEY tokens. The recent surge in HONEY’s value is attributed to the growth of Hivemapper’s network, which has mapped over 13.8 million unique kilometers.
To maintain its upward momentum, HONEY must close above the resistance level of $0.0832 and consistently stay above the support level of $0.0722. Failing to maintain these levels could result in the token losing its recent gains and potentially reverting to previous price levels.
5. Subsquid (SQD)
Subsquid Network is a decentralized data lake and query engine that offers developers efficient and permissionless access to data. Its goal is to create a neutral and open internet based on Web3 principles. The network uses ZK proofs for security and features a modular architecture, ensuring high scalability and convenience for developers.
This setup is perfect for blockchain indexing, dApp development, and analytics. Additionally, Subsquid Network provides a decentralized alternative to centralized infrastructure firms, including major RPC and API providers. Its economic model eventually aims to reduce data costs for Web3 developers to zero.
SQD is priced at $0.1065 at press time, marking a 13.22% increase over the past seven days. The token has had 16 positive days in the last 30 days. Recently, Subsquid announced a partnership with Guru Network to expand data coverage for Web3 and AI processors, including non-EVM ecosystems.
While sentiment might be bearish, it's never a real bear for data.
Subsquid Network continues doing numbers:
– 726 Worker Nodes Online
– 529 TB Data Stored
– 9 TB Data served in the past 24 hoursBecome part of the success: https://t.co/7nLwlslof2 pic.twitter.com/B6cwNhrATH
— SQD (@subsquid) June 27, 2024
The Subsquid SDK simplifies integration, while the Guru Data Warehouse aggregates data streams for AI processors. This partnership boosts decentralized AI-driven automation, offering robust solutions for DeFi, social applications, gaming, infrastructure management, and the creator economy.
In another development, T-Mobile Deutsche Telekom MMS has partnered with Subsquid, a decentralized data platform, to operate dedicated worker nodes within Subsquid’s decentralized “data lake.” According to a press release, this collaboration aims to enhance the security and efficiency of blockchain data retrieval and delivery. Worker nodes in the Subsquid network handle data queries and retrieve the requested information from the data lake for consumers.
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