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Cryptocurrency prices have been on the rise lately, and the overall feeling in the market is favorable. Recently, Bitcoin (BTC) has been hovering around $67K to $69K, and Ethereum (ETH) is striving to reach $4,000, creating mixed sentiments among investors.
However, identifying the next cryptocurrencies to explode might take some work as most funds are attracted to pumping assets. Today’s article explores the performance of cryptocurrencies that have dominated the gainers list in the last 24 hours. The objective is to identify coins with some potential and inform investors and traders about each token.
Next Cryptocurrency To Explode
Today’s article discusses the performance of potentially explosive cryptos that investors should add to their watchlist. It also includes a special mention of Base Dawgz, one of the newest meme coins that has launched on the Base Network. It features a distinctive multi-chain experience with smooth interoperability across various blockchains. The details of its presale and the performance of the top-performing cryptos today are shared below.
1. MANTRA (OM)
On June 10, the OM token, which belongs to the DeFi platform MANTRA, hit a record high of $1.09. This achievement comes as MANTRA expands its reach in the United Arab Emirates.
According to CoinMarketCap, OM rose 11.24% on the last day and was traded at $1.04 at press time. Its trading volume also increased by 62.25% to reach $142 million, and its market cap is $804 million, making it the 94th largest cryptocurrency.
MANTRA operates on a Layer 1 blockchain designed to follow real-world regulations. It offers a blockchain open for regulated applications aimed at institutions and developers. The OM token is crucial to MANTRA’s ecosystem, enabling users to engage in DeFi activities like lending, borrowing, and earning rewards. Moreover, OM holders can vote on proposals that shape the platform’s future.
Explore the Future of #RWA Tokenization & How MANTRA is Leading the Wave of Mass Adoption.
🎙️@jp_mullin888, CEO and Co-Founder of #MANTRA, is all set to dive into the potential of RWAs during an upcoming X Spaces session with @ScottMelker and @MarioNawfal.
Don't miss this… pic.twitter.com/qTRFoTAoOL
— MANTRA – Tokenizing RWAs (@MANTRA_Chain) June 10, 2024
Following MANTRA’s partnership announcement in the UAE, prices have significantly increased. MANTRA, a DeFi platform, signed a Memorandum of Understanding (MOU) with Zand, a digital bank based in the UAE. The aim is to establish clear guidelines for tokenizing real-world assets (RWAs) while complying with the Virtual Asset Regulatory Authority regulations of Dubai (VARA).
This collaboration intends to make the tokenization of real-world assets in the UAE more efficient, ensuring strict adherence to regulatory standards and measures to protect investors. In March, MANTRA also received $11 million in funding from a round led by Shorooq Partners to further develop real-world asset tokenization.
2. Base Dawgz (DAWGZ)
The $DAWGZ token benefits from the growing Base chain ecosystem. Even though Base is new, its meme coin market value is over $2 billion. Apart from its playful theme, Base Dawgz provides a share-to-earn function and intends to introduce staking rewards in the future, making $DAWGZ enjoyable and profitable for its users.
Although minted on Base, the token can be obtained, held, and exchanged on Ethereum, Solana, Binance Smart Chain, and Avalanche. Wormhole and Portal Bridge tech allow smooth cross-chain transfers and connections.
Base Dawgz introduces an exciting opportunity for investors who seek innovation. Investors can swiftly transfer capital across networks using Portal Bridge’s blockchain bridging system and Wormhole message-passing protocol.
In just under a week since its launch, the fresh multi-chain meme coin project Base Dawgz (DAWGZ) has raised almost $700K in its presale. This early success reflects the growing enthusiasm for DAWGZ due to its multi-chain features, staking rewards, and ‘Share-to-Earn’ concept.
https://twitter.com/BaseDawgz/status/1800120473721950386
Currently priced at $0.00479 per token, DAWGZ tokens can be purchased using BASE, ETH, BNB, AVAX, or SOL. The price is set to rise in less than 24 hours, so potential buyers should act promptly.
3. Turbo (TURBO)
Turbo Coin’s bullish trends are strong. It has increased more than 20% in the past day and a whopping 471.85% over the last month. Its year-to-date return is almost 2000%, making it a top choice for big gains.
Turbo Coin, a meme coin, came to life through a unique collaboration between Rhett “Dashwood” Mankind and GPT-4, an advanced AI model by OpenAI. With an initial budget of just $69, GPT-4 handled naming the project, selecting TurboToad as the mascot, crafting the logo, and coding the smart contract. This AI-driven process, along with Mankind’s creative input and the community’s support, has set Turbo Coin apart in the crowded meme coin market.
Since its creation, Turbo Coin has shown impressive growth. In just one day, TURBO jumped by 20.17% to $0.006189. Over the last year, its price skyrocketed by 5,121%, surpassing 97% of other top 100 crypto assets in market value. Currently, the coin is trading 3,581.39% above its 200-day simple moving average (SMA) of $0.000168, indicating strong market momentum.
🌍 $TURBO – United 🌍
Let's come together for our shared vision. As $TURBO holders, our unity is driving a global movement and transforming lives. 📈
Let's keep pushing our message. 🔄
#TurboToken #TurboRevolution pic.twitter.com/FjiWZ3f4rj
— Turbo 🐸 (@TurboToadToken) June 10, 2024
Turbo Coin’s 30-day volatility is 65%, making it a high-risk, high-reward investment option. This appeals to investors seeking substantial returns. Despite its speculative nature, the project has gained a loyal following, evident from its 17 profitable trading days in the past month, indicating sustained investor interest. Moreover, the coin boasts high liquidity, with a volume-to-market cap ratio of 0.5238, a market cap of $392.73M, and a 24-hour trading volume of $205.70M.
4. Mog Coin (MOG)
The prediction for Mog Coin’s price looks positive, although there could be a temporary decrease of 15-20% from the current prices. With a market capitalization of only $440 million, there might be more room for it to go up, considering the strong buying interest shown on the price chart.
Mog Coin supporters have good news. Besides the big gains Mog made last month, its price also broke through the resistance zone from the March rally. Although there was a slight drop in the price in the previous 24 hours, the overall prediction for Mog Coin remains optimistic.
Furthermore, consolidating might boost the bulls, but if Bitcoin falls below $67k, it could dampen market sentiment. MOG’s price has fluctuated between $0.000001164 and $0.00000154. Yet, if MOG fails to hold above $0.000001300, bears might gain control.
MOG cryptocurrency has experienced a significant surge in volume, leading to increased volatility and price instability at the supply level. However, sustained high demand could drive MOG’s price higher. The next target could be $0.000002000.
5. Celsius (CEL)
CEL, Celsius Network’s cryptocurrency, has been on a remarkable surge since May, attracting the attention of crypto investors. Riding on the wave of increased buying interest in the market alongside Bitcoin, CEL reached a peak of $1.66, its highest in 20 months. This surge began with a significant reversal pattern and was supported by a notable increase in futures open interest, signaling a promising recovery and potential for further growth.
The daily chart shows CEL experienced a noticeable sideways trend from March 2023 to April 2024. The lack of investor activity kept CEL’s recovery below $0.42, likely influenced by the Chapter 11 bankruptcy filed in the Southern District of New York bankruptcy court. However, on January 31, 2024, Celsius Network LLC announced its emergence from bankruptcy after completing transactions according to its confirmed reorganization plan.
With investors feeling more positive, the CEL token bounced back from its low of $0.114 in May. It surged by 1,360% to reach $1.67 by 6:25 AM EST.
During this upward trend, crypto buyers broke through the $0.42 resistance level, indicating a shift from the 20-month accumulation period. This rally also saw a significant increase in futures open interest, according to Coinglass data. Open interest jumped from $850.96K to $11.23 million, signaling intense trading activity and possibly more market leverage. This significant rise suggests traders are preparing for further price movements soon.
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