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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. UNUS SED LEO (LEO)
UNUS SED LEO is a utility token within the iFinex ecosystem, known for its advanced and unique features. One standout innovation is its token buyback system. iFinex uses at least 27% of its monthly revenue to repurchase LEO tokens from the open market. This strategy helps maintain the token’s value, unlike many other cryptocurrencies that depend solely on supply and demand.
Furthermore, LEO’s uniqueness is closely tied to Bitfinex’s profitability and its role in improving transparency. Bitfinex dedicates a portion of its profits to buying back LEO tokens, ensuring a consistent demand. Additionally, regular token burns reduce the supply, which helps support the token’s price. This system lowers trading fees for users and boosts investor confidence.
Currently, LEO is priced at $5.79, with a slight drop of 0.28% in the last day. Despite this, it is trading 51.04% above its 200-day Simple Moving Average (SMA) of $3.85. Over the past year, LEO’s price has increased by 45.79%, with 16 green days in the last 30 days. The 14-day Relative Strength Index (RSI) stands at 41.04, indicating a neutral market sentiment.
Looking ahead to 2025, LEO shows potential due to positive regulatory trends and the increasing utility of blockchain technologies. It could reach a high of $7.80, supported by promising developments, favorable market conditions, and growing crypto adoption. The average price is expected to be around $6.40, with minor fluctuations.
2. Curve DAO Token (CRV)
Curve DAO Token (CRV) is currently trading at $0.2903, with a market capitalization of $338.964 million. Over the past 24 hours, CRV’s price has increased by 15.19%, positioning it at 142 in the cryptocurrency rankings. The daily trading volume has also surged by 198.43%, reaching $149.53 million.
CRV stands out due to its technological innovations. It offers efficient stablecoin liquidity provision and an automated market maker (AMM) specifically designed for stablecoins and low-slippage swaps. This system allows users to trade between assets with very low slippage, even during large trades. This makes CRV a reliable and efficient decentralized platform for trading and liquidity, especially for stablecoins.
Moreover, CRV has formed strategic partnerships with important industry players like Yearn.finance. This decentralized finance (DeFi) platform supports farming strategies and has created the yCRV vault, allowing users to deposit CRV and earn profits. Its collaborations with Ren Protocol and Zapper further strengthen its position in the DeFi space. These partnerships expand its ecosystem, increase its influence, and support wider adoption.
The amount of CRV tokens locked in veCRV over the last 2 months just exceeded CRV emissions (token incentives) produced since Aug 13 last year, according to @0xcrv_hub data
— Curve Finance (@CurveFinance) August 9, 2024
The average price of CRV is predicted to be around $30 by 2025. The growing demand and adoption of cryptocurrencies, fueled by the introduction of Ethereum ETFs, are expected to contribute to its value growth. The estimated highest price of $40 assumes continued progress in the regulatory environment and significant growth in the technology sector.
3. PlayDoge (PLAY)
PlayDoge ($PLAY) has gained significant attention by raising over $6 million in its presale, even amid last week’s bearish market trends. This meme coin, combined with play-to-earn (P2E) elements, is poised to be one that investors might regret missing out on. PlayDoge offers more utility than $DOGE and features a game where users can own a virtual Shiba Inu pet on their mobile devices. This unique feature is one reason analysts believe PLAY is on track to become the next big thing.
PlayDoge has all the qualities of a standout meme coin. Its vibrant, energetic social media presence is highly engaging and full of viral potential. This strong online presence has helped it quickly build a substantial following in just a few months.
What truly sets PlayDoge apart in the crowded crypto space is its innovative approach to making Doge ownership more personal. Inspired by the classic Tamagotchi from the ’90s, the upcoming mobile game allows users to adopt and care for a virtual Shiba Inu. Players can train, feed, and interact with their digital pets in the 8-bit world of PlayDoge, all while earning the native token, $PLAY.
Play-to-earn (P2E) coins have proven resilient against market downturns, and PlayDoge is positioned to do the same. By combining the charm of a meme coin with the benefits of P2E, PlayDoge is set to perform well in both bull and bear markets. If you’re interested in getting involved before it gains even more buzz, the $PLAY token is still available at its presale price of $0.00528. However, act quickly – the price is set to increase as the current presale stage ends in less than 24 hours.
4. Golem (GLM)
Golem (GLM) is a decentralized platform that enables users to buy and sell computational power for tasks such as artificial intelligence, CGI rendering, and cryptocurrency mining. This blockchain-based system offers a peer-to-peer market for computing resources, making cloud computing more affordable and user-controlled. By dividing tasks into smaller parts, Golem increases processing speed and lowers costs compared to traditional cloud services.
Recent updates show strong bullish momentum for Golem, with a 48.35% performance above the 200-day SMA, indicating its solid growth and market stability. Additionally, Golem experienced 15 green days out of the last 30, representing 50% of the time, and demonstrated low volatility, making it a relatively stable asset. Over the past year, Golem has grown by 54%, outperforming 54% of the top 100 crypto assets, underscoring its competitive edge.
🚀The Golem ecosystem keeps growing and we are happy to announce that @GamerHashCom is starting preliminary closed beta tests of the Golem AI Provider module in their App!
This integration marks another milestone in the growth of the Golem ecosystem. While Modelserve addresses… pic.twitter.com/NwNtBpuzxy
— Golem Network (@golemproject) August 5, 2024
Golem’s (GLM) price is expected to reach a low of $0.5 by 2025. The average price could be around $1, with a potential high of $1.5. This optimistic outlook is driven by favorable regulations, significant growth in the tech sector, and easing inflation rates. Moreover, the introduction of Ethereum ETFs might attract substantial investments into altcoins like GLM.
5. Sui (SUI)
The Sui token has grown remarkably, increasing by 93.21% over the past week. Today, Sui (SUI) tops the list of intraday gainers, rising by 15.18% to $1.06. This impressive rally is mainly due to two key developments: Grayscale’s launch of a new Sui fund and the transition of the Sui Name Service to a decentralized protocol.
Currently, SUI is trading at $1.06, with a 24-hour trading volume of $759.38 million and a live market cap of $2.75 billion. Additionally, SUI has seen a significant increase in Open Interest. Data from Coinglass shows that SUI’s Open Interest surged from $56.95 million on August 7 to $180.97 million by August 11, reflecting strong investor confidence in the token’s potential.
🙌 @StashedOfficial in the wild! We love to see it.
And even if you can't make it to Istanbul for #IBW2024, you can always #GetStashed in other ways 😏 https://t.co/8TMgzUyxlF
— Sui (@SuiNetwork) August 12, 2024
The rising trading volume suggests growing demand, as more investors are eager to buy the token, pushing its value higher. The Moving Average Convergence Divergence (MACD) indicator on SUI’s daily chart supports this trend, with the MACD line above the signal and zero lines indicating a bullish trend.
The initial target for SUI is $1.12, a level last seen on June 8. This target could be reached if demand for SUI continues to grow and the bullish trend holds. However, if investors decide to take profits after the recent surge, the altcoin’s value could drop to $0.46, as it did in November 2023.
Read More
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