Next Cryptocurrency to Explode Monday 24 July - Burn Kenny, Trust Wallet Token, Dogecoin

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Many Wall Street Players share the opinion that stocks will move higher and faster this year from this point on. The idea is based on the perceived broadening of the market rally. The market’s rally is also believed to provide a soft landing for the economy despite the rate hikes.

A few other analysts see it as a false flag, however. There are arguments that the stock market is overbought and is heading for a correction.

In Asia, the markets are getting ready for a bust week. They expect the release of different data and the outcome of central bank meetings in Europe and the US. They also anticipate the end of monetary policy tightening in both places.

The Bank of Japan will meet on Friday but it is expected to continue with its loose monetary policy.

The crypto market did not enter the new week with much strength s it is down by 0.18%. The top gainers on CoinMarketCap gained by very little margins. Despite that, the market’s trading volume in the last 24 hours was up 7.49%.

The Next Cryptocurrency To Explode

If the trading volume keeps going high at that rate, then a rally is imminent. Hopefully, the expected economic data for the week will not put press on the crypto market but rather elevate it. If rate circles are halted in the US and possibly the EU, traders, and investors may have a sharper appetite for more risky assets.

1. Burn Kenny (KENNY)

Burn Kenny rounded up its presale at an outstanding speed on Saturday. With a hard cap of $500,000, the presale ended after raising $499.824.58.

This token received colossal community support from the beginning as it raised $350,000 within 15 hours of the presale launch. If the momentum it started with continues, the KENNY will be the next cryptocurrency to explode.

Burn Kenny is now ready to go live on decentralized exchanges on Monday. According to the project’s Twitter account, the contract has been deployed. The LP has also been added and locked. But it is not possible to trade for now until the project goes live. The launch time is 6 pm CET and all eyes will be on it.

There are actually fact-based reasons to believe that KENNY is the next big cryptocurrency to explode. Apart from the hype, the platform’s marketing strategy that made it possible is one big factor.

It's launch day for #BurnKennyToken

⏰ is 1800 (6pm) CET
🖱️ https://t.co/XPzoyXhKTh is where to claim/buy

Contract is deployed, LP added and locked but trading isn't possible until we go live! pic.twitter.com/gGEXmZzfGj

— Burn Kenny (@BurnKennyCoin) July 24, 2023

The first major factor after that is the short span of the presale. The project set out to raise just $500,000, then it was met with a fast pace. Now that it is over, many demands will find their way into decentralized exchanges where the token is offered. The inevitable result will be a price pump.

Secondly, the entire Burn Kenny project is considered a low-cap gem. As a result, it has a lot of room to grow. Right now, it is valued at $1.25 million. Early-stage investors will have a lot of opportunities to grow with this project because it is starting so low.

Memecoin lovers who have staked early enough have the unique opportunity to grow from now on.

Thirdly, the KENNY token is a deflationary one. This means that the token value increases as the burn occurs.

The project has an in-built mechanism to burn coins periodically. This will constantly create a deflationary process and keep KENNY’s price up. One of the means of achieving this is by keeping 30% of the KENNY tokens to be burned at a future date.

The burn mechanism will kick in 24 hours after the token listing. Then it will last for only 3 days.

Importantly, another 30% of KENNY tokens have been set aside as liquidity for decentralized exchanges. It is important because a lack of liquidity can cause adverse price action over time.

The Burn Kenny team promised to lock the said 30% set aside for liquidity for three months. This will help prevent the case of any potential rug-pull. Putting such a huge amount aside is a rare occurrence because of many fraudulent activities in the crypto space. Now that it has happened, it should increase investors’ confidence.

Visit Burn Kenny.

2. Trust Wallet Token (TWT)

In the midst of the weekend slip, Trust Wallet Token started the new week at the head of the gainers’ list with 4.31%. The token is seeing a bullish move as investors aim to diversify their portfolios from the regular gainers a bit.

The last time TWT pumped so hard was last month. It was in the face of the US SEC’s crackdown on the crypto industry by suing Coinbase and Binance. While the SEC said many crypto assets were just investment contracts, investors displayed confidence in the Trust Wallet Token. They resonated with the ability of its native token to fully power the platform and aid transactions.

At that time, investors simply moved from the BNB token to TWT, which is owned by the same parent company, Binance. There was an assurance that no matter what the outcome of the SEC’s lawsuit was, TWT will be safe.

It is noteworthy that the BNB token is currently trading low by 0.45%. It is possible that there is a replay of investors’ allegiance shift as it happened a month ago. Further development in the case between Binance and the SEC may have a stronger impact on the future of TWT.

TWT token is used to provide different incentives and benefits to those using the Trust Wallet. The token holders unlock these benefits while using the wallet to buy crypto and other decentralized exchange services. They also use the token to participate in the governance system of the Trust Wallet network. This includes voting on important decisions.

3. Dogecoin (DOGE)

While most altcoins have been losing ground, Dogecoin is defying the predominant situation. The asset rose as high as 7% suddenly in the midst of the market chaos. The reason is not far from the news of rebranding that greeted Twitter. And of course, the link between Elon Musk, who owns Twitter, and Dogecoin caused DOGE to pump.

It is, however, not certain if this is something that will last and if DOGE is clearly the next cryptocurrency to explode. Elon Musk has been a major driver of Dogecoin’s success since the 2021 bull run. The billion investor has also influenced the asset’s price and market welfare through his public approvals and announcements.

His constant tweet about the coin and plans to make it a utility token on Twitter gave DOGE more relevance than it could have dreamt of. Now that Musk has announced a planned rebranding of the Twitter app and also added Dogecoin to his bio, the movement has begun again. It is not known, for now, what the new plan for Dogecoin may be.

Importantly, how far Musk can keep wielding influence on Dogecoin and the general crypto market will be seen. In the meantime, investors may want to buy some DOGE now.

4. BitDAO (BIT)

BitDAO has risen by a relatively fair point over the last 24 hours. Now selling at $0.5663, it can tag along as the next cryptocurrency to explode with the current market condition. It has a market capitalization of $1.05 million now with a trading volume of $202,303 in the last 24 hours.

But on a larger scale, BIT has actually gained 11.60% in the last 7 days. It even has a brighter look on its monthly and six-month charts. The asset gained 34.46% and 9.39% through those periods respectively.

BitDAO, however, appears to be on the right path to bullishness, based on analysis. It keeps showing strong uptrends in spite of the drawbacks it experiences. Its 50-day simple moving average is almost crossing over the 200-day simple moving average. This ordinarily signifies the beginning of a bull market.

It looks like BIT is getting ready to revisit the $0.65 resistance point. If it successfully breaks this barrier, then it will race toward $0.75 and keep growing. This bullish hope is built on BIT’s impressive monthly performance of 34.46%.