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Many altcoins are trying to make a comeback as they record significant gains. Meanwhile, Bitcoin (BTC) has surpassed $60,000 and is still hoping to find support for its next big move. Investors need to stay alert during this consolidation phase as it could be a chance to catch a ride on a rising trend.
Prices of these various assets are climbing, even before the market takes off entirely. That is why today’s article is dedicated to identifying the next cryptocurrencies to explode and inform investors and traders about each token.
Next Cryptocurrency To Explode
Smart investors are moving to capitalize on the boom in the altcoin market and taking positions in upcoming tokens like the Shiba Shootout. The project features a unique Wild West design, combining this popular period from American history with the crypto frontier. This post covers the details of its presale.
1. TRON (TRX)
TRX has recently caught the eye of investors, especially those focused on meme coins, thanks to the activity on the SunPump platform. Like Solana’s PumpFun, SunPump allows users to create and launch meme coins on the Tron network.
This development has driven TRON’s network revenue upward, pushing the TRX price to $0.17 on Sunday, a 25% gain over the week. According to IntoTheBlock analytics, the large transaction volume for TRON has been increasing, recently hitting $1.05 xs. This trend suggests growing interest from institutional investors or high-net-worth individuals, often a precursor to price rallies.
The SunPump platform has also seen a significant surge in user activity, leading to an unexpected energy shortage. In response, founder Justin Sun announced that he informed the Super Representatives, who proposed an “energy limit increase.” This would reduce energy costs and transaction fees on the network.
Did you know TRX, the native utility token on the #TRON Network, gives users voting power and enables free transactions? 🔎
By holding TRX, users can participate in governance and earn bandwidth or energy to transact for free. 🌐 https://t.co/vAwn10ag5U
— TRON DAO (@trondao) August 25, 2024
Sun believes this update will address key challenges by boosting transactions for stakers, lowering gas fees, and increasing overall network activity. Proposal No. 92, now in effect, raises the energy cap to 120 billion, allowing for more transactions, lower gas fees, and heightened network activity. TRX could rally above the $3 level if the bullish momentum continues.
2. Xodex (XODEX)
XODEX is an advanced omni-chain decentralized exchange (DEX) for spot and perpetual futures trading. It connects with multiple networks, making it easier for traders and liquidity providers across various major chains. XODEX is also working on launching the first DEX for spot trading on Kaspa and Kasplex for KRC-20 tokens.
Today, XODEX is priced at $0.0002847, reflecting an 18.02% increase in the last 24 hours. The trading volume has also surged by 88.40%, contributing to a bullish week with over 15% growth. The current market sentiment for XODEX is bullish, and the Fear & Greed Index shows a score of 55 (Greed), indicating increased token transactions and growing optimism for an uptrend.
🚨 Big News! We’re joining forces with @zetablockchain to bring #Kaspa to their groundbreaking platform – the world’s only production-ready chain abstraction network! ⚡
With #XODEX spearheading the technical development, this game-changing integration will supercharge our EVM… pic.twitter.com/nVMTryYakr
— XODEX (@XODEXnetwork) August 26, 2024
XODEX has strong potential for future growth. If the EOS project partners with other networks, XODEX’s price could surpass $0.001 by 2024. If the bullish trend in the crypto market continues, the average price of XODEX could reach around $0.005 by 2025. However, if the market turns bearish, the price could drop to a minimum of $0.00009 in 2024
3. Shiba Shootout (SHIBASHOOT)
Shiba Shootout ($SHIBASHOOT) is on fire, with its presale already raising $1 million and showing no signs of slowing down. This new meme coin project has gained serious momentum in just over a month, and more funds are expected to roll in as the presale continues. Additionally, the mobile game Shiba Sharpshooter has already seen over 1,000 downloads on the Google Play Store, with a Web3 app launching soon.
The project’s success can be attributed to its Wild West theme and the beloved Shiba Inu, a favorite in the crypto community. Priced at $0.02, the native token $SHIBASHOOT will increase in less than a week as the project gears up for its next funding phase.
Shiba Shootout is bringing excitement back to the meme coin space. The project creates a digital community called Shiba Gulch, where Shiba Inu fans and meme enthusiasts can gather. Shiba Gulch will be a hub for sharing and competing in meme-offs, aiming to bring fun back to meme coins.
It's OFFICAL!!
"Posse Rewards" have been implemented on our website!!!Connect your wallet and share your unique code to earn a HUGE 5% on "all" your referrals purchases!! 💰 💰 💰 💸 💸 💸 https://t.co/Fxf9PWP0gz#cashback #referrals #cryptocurrency pic.twitter.com/Vn1yLJcKbn
— shibashootout (@shibashootout) August 20, 2024
Shiba Shootout also emphasizes community involvement through its Token Governance Roundups, allowing token holders to vote on important project decisions. This democratic approach gives the community a strong voice in shaping the project’s future.
If you want to get involved in the game’s development and join in on the sharpshooting Doge action, now is the time to secure $SHIBASHOOT at its current price!
4. FLOKI (FLOKI)
Floki (FLOKI), a meme cryptocurrency, has experienced a significant price increase in the past week, surging by over 33%. The recent market recovery has fueled this bullish momentum, pushing FLOKI’s price to $0.0001522 with a gain of more than 3% today. Floki’s upward trend is closely tied to the broader cryptocurrency market surge like other meme coins. As Bitcoin continues to rally, FLOKI seems poised for further gains, potentially doubling its value amid the ongoing momentum.
According to Coinglass, increased trading volume and open interest support the current bullish trend in FLOKI derivatives. The data shows a 0.39% rise in volume, reaching $268.59 million, while open interest has surged by over 3% to $14.22 million.
These metrics reflect growing confidence and activity in the market as traders remain engaged with FLOKI derivatives. The increased options volume and open interest strengthen the bullish sentiment, indicating that investors are positioning themselves for more upward movement.
FLOKI TRADING BOT HITS VOLUME AND USER ATH
Floki Trading Bot just crossed $11.6 million trading volume and 10,600+ users — an ATH. This is an impressive user and adoption growth as the bot now trades an average daily volume of $2.5 million.
This is coming just as we announced… pic.twitter.com/CARSOaNPGu
— FLOKI (@RealFlokiInu) August 26, 2024
An announcement by Binance on August 20 about the upcoming Simon’s Cat (CAT) meme coin airdrop seems to have boosted FLOKI’s value. Since early August, the Floki Inu community has eagerly anticipated the Simon’s Cat airdrop. This excitement has translated into a bullish performance for the token, which has risen by 33.18% in the last seven days, reversing the bearish momentum that had persisted since early June.
5. Flux (FLUX)
Flux has gained 15% in value over the last 24 hours, drawing significant attention. This rapid rise has sparked increased investor interest. The rally has generated excitement in the markets, with analysts predicting a larger increase in the future. Flux’s fully diluted market value is around $243.7 million, and its volume-to-market value ratio is 42.05%. This high percentage indicates strong liquidity.
Flux is a proof-of-work cryptocurrency that powers the Flux ecosystem. This ecosystem is designed to support the development and use of Web3, the decentralized internet of the future. FLUX is used for transactions, staking, and rewarding Masternode operators within this ecosystem.
⏰ Time's running out! #Giveaway
Our competition ends on August 31. Don’t miss your chance—deploy @foldingathome on #FluxCloud or #FluxEdge to qualify! https://t.co/jo1GUw0BjK
— Flux-Web3 Cloud (@RunOnFlux) August 26, 2024
Flux recently bounced from a significant support level on the weekly chart. Since September 2023, the $0.4 support level has held firm. Flux has tested this support four times, and the latest bounce suggests a continued rise. Moreover, the RSI indicator forming a double bottom pattern in the oversold region signals a potential upward movement.
Analysts have set potential price targets for Flux at $0.96, $1.05, $1.20, $1.44, and $1.65. The current support level is $0.82; if it holds, the price could reach a new peak. If Flux maintains its momentum, it could hit a target price of $3.0397, marking a 354% increase.
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