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Generally, a bitcoin price dump often affects the prices of most altcoins. Hence, altcoins have printed a double-digit price decline today, making it difficult to spot the next cryptocurrencies to explode.
Nevertheless, market data have shown the dip to be one of the best buying opportunities. Thus, we explore the potential of crypto assets to identify prospective coins with a high chance of exceptional performance.
Next Cryptocurrency To Explode
Surprisingly, the price decline in the crypto market is only evident among listed crypto assets. Funds going into presale cryptocurrencies are going astronomical. At the time of writing, the Slothana presale has raised over $5.8 million. The performance of the token presale has been quite astounding. Thus, this post will explore the details of the project and offer a quick overview of its presale offering.
1. Filecoin (FIL)
The rise of the decentralized physical infrastructure wave in the crypto market gives visibility to assets like Filecoin and many AI projects. However, as AI projects gained most of the attention, Filecoin lost most of the gains it gathered during the heat of the DePIN trend. As of today, FIL has shed over 20% of its price. In the last 24 hours alone, the token lost over 10% of its intraday gains, positioning it as one of the top losers in crypto today.
Nevertheless, is FIL among the next cryptocurrencies to explode? The declining value of FIL presents an opportunity to buy the dip ahead of a price recovery. Generally, the token recently attempted to break into the mid-range with a peak value of $11. The current reversal would provide the momentum needed to push into the mid-range.
Similarly, the file platform also recently launched the FVM, which has allowed an increase in DeFi activity in the network. New technology will create further use cases of the network.
Besides the improvements to the Filecoin network, several indicators applied to the FIL chart suggest that Filecoin is relatively underpriced, and investors might soon see a bullish trend. FIL RSI chart posts a relatively low value of 44, which indicates that the token is trending towards the oversold range.
1/Since the FVM launch in March '23, the DeFi ecosystem on @Filecoin has grown significantly in volume & value.
Several critical pieces are coming together to propel more growth for the network.
Here’s a roundup on latest DeFi activity🧵 pic.twitter.com/J64Houslvh
— Filecoin TL;DR (@FilecoinTLDR) March 29, 2024
Similarly, its Average Directional Index indicates that the current Filecoin trend is growing significantly weak. Thus, it might encounter a reversal at the $8 price or earlier. Other chart data that suggests impending bullish trends for the file coin include the basket of long-term and short-term moving averages, trending below the current FIL price. Ultimately, it is best to analyze FIL for the best entry price and strategy to apply for the best result.
2. Bittensor (TAO)
Bittensor has shown resilience despite the overall price decline in the crypto market. Today, TAO posted a price increase of over 3%, plus a trading volume increase of about 86%. The growing interest in the Artificial Intelligence sector of cryptocurrency provides the breeding ground for the TAO token.
The project aims at providing open-source protocol to power Blockchain-based machine learning. Consequently, Bittensor would likely become the platform that future crypto AI projects leverage to get their projects off the ground. Ultimately, the TAO token would perform an essential role in the crypto AI sector.
At the time of writing, the token has broken into the mid-range after a month-long price decline. However, as the market returns to the bull trend, TAO has a chance of swinging into a reversal trend. Investors can expect to see TAO value return to over $600 before the end of the second quarter.
Moreover, the technical analysis of TAO shows that the token is undervalued at the time of writing. The token price trades below its EMA 200, which shows upbeat market sentiment towards the TAO token. Hence, investors can expect to see the price of the asset return to its ATH value soon.
3. Slothana (SLOTH)
Anyone familiar with presale projects launched on Solana would realize that they are often fast-paced. Many of these projects achieve remarkable hard cap numbers within weeks of presale offering.
An example is the ongoing Slothana presale, which has raised over $5.8 million in less than two weeks of the presale program. The most surprising feat achieved by the project is the amount it raised within 8 hours of the presale launch. According to information on its official Twitter handle, the project raised over $500k on its first presale day.
The unwavering support the project receives from investors suggests that there might be a promising future ahead of Slothana. It’s received impressive social media engagement, indicating growth potential for the token. Similarly, SLOTH has witnessed growing followers on Twitter(x). At press time, there are over 8300+ active followers on its X account and thousands more on other social media outlets, including Telegram.
🌿🦥 Attention, fellow sloths! Poll time. Should we launch on DEX only, embracing the true spirit of decentralization and lazy trading? Or should we go full throttle, hitting up both CEX and DEX like the overachieving sloths we could be? Cast your vote below #slothana #memecoin
— Slothana (@SlothanaCoin) March 29, 2024
With the growing audience and engagement, the project has the critical mass to ensure it realizes its potential. Furthermore, the community is currently contemplating the exchange to list on. Hence, investors should get on board before Slothana goes on exchanges. Further details about the project and how to participate are available on its presale page.
4. Verge (XVG)
Assets in the privacy sector of the cryptocurrency are some of the most embattled in the entire crypto market as most countries impose increasing regulations on crypto. Monero recently faced delisting on Binance due to European law mandating total transparency in the crypto space.
Nevertheless, crypto coins like Verge maintain their upbeat performance with over 45% price increase in the last seven days. Despite the overall price decline across the crypto market, the token posted a price increase of over 17% today. A surge in trading volume also accompanies its gains. XVG posted over a 1000% increase in its trading volume today, constituting over 150% of its market cap.
XVG market data suggest that it might be best to include the asset on the investment watchlist as it holds the potential to become one of the next cryptocurrencies to explode. With the current price of $0.009, XVG is trading close to the $0.01 – $0.01 resistance cluster. Breaking above these levels would put XVG on the path to reaching the mid-range.
Technical analysis of XVG shows that the token has enough room to run and attain more upside. The RSI value of the Verge shows neutral price levels with a value much less than the 70 mark. XVG EMA200 is valued at 0.004098, much below its current price. Hence, investors can expect further bullish trends in the coming days.
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