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Many anticipated that the recent Fed meetings would influence the direction of the crypto market. However, the trends remain flat as the market has not settled for a specific direction. Even though the meetings hinted at a potential rate cut in the coming quarters of the year, there are no clear indications of the date and time the cuts would take effect.
Sadly, Bitcoin fluctuates between prices much below its recent all-time high. While investors wait for the crypto market to decide on its next trends, many look for the next crytpocurrencies to explode. In the meantime, the best-performing crypto assets fall into the tokenization and memecoins categories.
Next Cryptocurrency To Explode
Established memecoins such as PEPE have returned to their upbeat performance with as much as a 15% price increase in the last 24 hours. Similarly, upcoming tokens like the Sponge V2 are making impressive progress, especially as the community anticipates the arrival of its P2E game. Details of the next phase of its iteration are featured in the article.
1. Kaspa (KAS)
Kaspa is finally making a profit after a week-long price decline. The cryptocurrency trade is close to the $0.16 range, considerably higher than recorded at the start of the week. With that, holders might brace up for another round of price pump, besides the recent $0.2 ATH.
In the last 24 hours, KAS has seen over 12% rise in price, a trend that aligns with the overall positive performance of the crypto market. In addition to the rising cost, the KAS trading volume is also rising. Market data shows that there’s been an increase of over 50% in the trading volume today compared to what was recorded 24 hours ago.
The rising volume will likely put more pressure on the price, resulting in further gains for KAS. Likewise, data from its technical analysis shows that the RSI reading is relatively neutral, with a value of 54. Hence, KAS would likely hold its uptrend a little longer.
🚀Exciting news! 🚀
Thrilled to announce the official establishment of the Kaspa Ecosystem Foundation (KEF)🔥The foundation’s vision is to foster the @KaspaCurrency ecosystem's development, adoption, and sustainability. We aim to work with the community to create a supportive… pic.twitter.com/p3H0jwPqUa
— Kaspa Eco Foundation (KEF) (@Kaspa_KEF) March 20, 2024
Another factor to watch out for is the recent establishment of the Kaspa Ecosystem Foundation. The foundation is saddled with the responsibility of stirring the future direction of the platform and the community. Interestingly, big brands in Crytpo are taking an interest in the foundation. For example, the foundation has the support of OKX, who’s supporting the movement through the Ice River Miner funds.
In the long run, the partnerships and foundation should contribute significantly to the project’s progress. In the meantime, investors should include the KAS token on their watchlist to see how the trends unfold in the coming months.
2. Sponge V2 (SPONGE)
Sponge V2 is about to regain its place as one of the biggest gainers in the memecoin rally as the community braces up for the arrival of the P2E game. The gaming feature of the project aims to provide functionality for the SPONGE token. With that, the team hopes to eradicate the deflationary effects that kill the growth of most memecoin projects.
Don't forget, #SPONGERS! 🧽💦#SpongeV2 is bringing exciting utility through our upcoming #P2E game! 🔥
Get ready to earn $SPONGE tokens by playing the game and ranking on the leaderboard.
Stay tuned for more info! 🚀#MemeCoin #Crypto #Alts #100x pic.twitter.com/5aaLxGz8N1
— $SPONGE (@spongeoneth) March 22, 2024
A post on Sponge V2’s official Twitter handle reveals that players participating in the Sponge games are responsible for winning the SPONGE token. The reward structure is not spelled out at press time, but the community is excited and optimistic ahead of the announcement.
Above all, the Sponge team has delivered on its promise of ensuring that the V2 of the project performs better than version one. Current market data indicates that the project has a market cap of over $220 million at its all-time high price. With the arrival of the P2E game, the token may revisit its ATH value as the demand for the token and the activities in the network increases.
3. TokenFi (TOKEN)
TOKEN, the cryptocurrency of the TokenFi network, is eyeing a higher price point today as it recorded an 8% price increase in the last 24 hours. The under-one-dollar token has been on a consistent price increase since the bull market’s start in the previous year’s final quarter. Hence, it has performed much better than most major cryptocurrencies.
The TOKEN chart’s technical analyses reveal that the coin is on track to posting more explosive performance. It has a moving average below its current market price, meaning investors are still bullish on the asset. Furthermore, TOKEN has established support at the $0.5 range, which resulted in the recent trend reversal that brought the coin price to $0.1.
Also, TokenFi’s partnership with Floki would contribute significantly to the potential upside of the token. Generally, Floki has printed more gains in this bull market than most cryptocurrencies. Hence, the partnership between the duo unlocked access to over 450 million potential markets. The alliance between these platforms will give Floki its footing in the tokenization space, and TokenFi will have access to Floki’s broader market.
During our most recent monthly community AMA for both #Floki and #TokenFi, a member inquired about how TokenFi Connect will operate.
Our Head of Operations, B, provided the following response:@TokenFi’s whole unique selling point is that it is built on the assumption that… pic.twitter.com/8tPLXepCNE
— TokenFi (@tokenfi) March 15, 2024
Ultimately, both platforms would reap the windfall through significant value increases. Already, the two assets recorded a massive price surge after consummating the partnership. In the last 24 hours, Floki recorded an over 40% increase in price while TOKEN saw over 50% price pump. The two ecosystems’ overall temperament indicates a high chance that the cost of the projects will increase even further.
4. Ronin (RON)
Ronin is also back on the uptrend after many days of price decline. The token kicked into a downtrend after the sudden BTC price dump. The market downturn cost RON over 25% of its price, pushing it much below its value in the early days of the month. However, there’s been a dramatic change in the asset trend as it recorded over 30% price increase in the last 48 hours, and today, its price is up by over 8%.
It’s essential to note that the bulk of the recent gains recorded by the RON token results from the recent listing on Coinbase. The announcement came yesterday, Mar 21. Upon arrival on the largest exchange in the world, the asset’s price recorded a double-digit price pump and has kept its pace till the time of writing.
With the price increase, the probability of RON reaching new ATH is quite high as it trades close to its 30-day high. Moreover, the rising trading volume reveals a growing interest in the token, which might also contribute to its prospect for a higher price.
BREAKING: RON LISTED ON COINBASE
For many years, the @coinbase and Ronin movements have been on similar missions: to increase economic freedom around the world.
Coinbase has become the largest and most-trusted crypto exchange in the USA.
Ronin has become the fastest-growing… pic.twitter.com/Ma6ySG3Bpk
— Ronin (@Ronin_Network) March 21, 2024
Overall, the prospect of the RON token is quite high, particularly as the crypto industry hype around the GameFi trend takes ground. As more gamers and gaming enthusiasts embrace the concepts of crypto gaming, there will be a proportional increase in the value of RON, which is the underlying asset of an emerging gaming EVM. Hence, RON should be on every investor’s watchlist as it can become the next cryptocurrency to explode.
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