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Everyone would agree that this bull run deviates from the norms as the trends that fail are different from what most people expect. The least likely narratives have generated the best-performing cryptocurrencies and the next cryptos to explode.
Surprisingly, new crypto sectors like the memecoins, AI, and RAW have spun more high-value cryptocurrencies than many established narratives. As the bull run approaches its peak, traders and investors are advised to shorn sentiment and take practical risk management measures.
Next Cryptocurrency To Explode
Regarding risk management, portfolio diversification is one of the best ways to ensure the future. Investors and traders must identify new crypto projects with short-term and long-term prospects to achieve this. Thankfully, crypto presale offerings often have excellent upcoming projects that investors can consider. Today’s post includes a presale token that investors can look into for ROI opportunities.
1. Chainlink (LINK)
The 13th crypto by market size currently prints impressive numbers. As Bitcoin climbs above its ATH value of $70k, many altcoins, including Chainlink, also ride the wave. The price of LINK is up by over 7% today, and its trading volume is up by over 200%. With that, about 10% of LINK is moving through the market at the time of writing.
The sudden price surge is due to growing use cases, collaborations, and innovation. The more recent instance is the use of Chainlink technology to establish trust in artificial intelligence algorithms. The platform’s foray into the AI world allows it to leverage the growing interest in the sector.
As the token approaches its all-time high value, investors should monitor its trend. There is a high likelihood that LINK will become the next cryptocurrency to explode, particularly if it successfully breaks its $52 ceiling. The recent whale action observed within the network is the catalyst to push it that far. Recent on-chain data shows that over 800,000 LINK were moved from binance into whale wallets.
"Blockchain can be used to track exactly what data an algorithm was trained on, when, by whom, as well as what other steps were taken to vet and verify that data."
Powered by Chainlink, the verifiable web can bring security rails and transparency to #AI.https://t.co/EcScrdFBg3
— Chainlink (@chainlink) March 8, 2024
The decision to remove the tokens from the market into custody indicates growing confidence in the token. It also signals a growing bullish sentiment. Apart from the whale activities, signals from several indicators applied to its chart show its potential for more upsides. Its MACD reading returned 0.643 on the daily timeframe.
The value indicates that investors are willing to buy the token at the current price. Hence, it may result in a further uptrend. On the other hand, it may go through a momentary pullback, as indicated by the rising RSI value.
2. Dechat (DECHAT)
Dechat is one of the cryptocurrencies to watch this season. The token recently debuted on the market, and it’s since garnered a nearly 100% price increase. Interestingly, its price actions are exclusive of listing on major CEX platforms. Today, the token’s price is up by nearly 70%, and its trading volume reached a whopping 350% increase in the last 24 hours.
The growing interest in the project shows the maturity of Blockchain-based communication technology. Dechat is a web3 communications protocol according to its whitepaper. The platform aims to foster decentralized interaction among web3 users.
Even though there are several other projects in the space, Dechat claims it is working on differentiating its services through artificial intelligence tech. Integrating AI into the
It claims the initiative allows it to unlock a new narrative in the crypto economy called AISocialFi. The move would allow the platform to derive value from two thriving narratives in the market: the AI trend and the SocialFi narrative.
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— Dechat (@dechat_io) March 1, 2024
While blockchain-based communication is still ahead of its time, Dechat’s early arrival in the space allows it to benefit from the first-mover advantage. With the proof of concept and growing adoption, the DECHAT token might become one of the next cryptocurrencies to explode.
At the time of writing, it reached $3.3 and continues to ride the bull market to more highs. Investors should watch the token’s performance and add it to their watchlist. However, taking precautions when approaching the token is best, as the chance of major pullback is quite high.
3. Sponge V2 (SPONGE)
Sponge V2 is one of the latest arrivals in the memecoin category. But the token has quickly made a name for itself as a crypto to watch. Within a few weeks of listing, it has earned the status of one of the fastest-growing memories in this bull market.
Similarly, since transitioning into the V2 iteration, the project has continued to command growing interest among degen investors. Its price has recorded a surge of over 250%. The chance to acquire the token is still open, as the price is currently undergoing a momentary pullback.
Moreover, the team has also initiated the inflationary process to help drive the price back to the moon. At the time of writing, over $28,972,563 worth of SPONGE is staked on the platform, which signifies the community’s confidence in the asset.
Get that $SPONGE and absorb all the damp🧽🌊🧽#SpongeV2 #MemeCoin #1000xGem pic.twitter.com/OoxtRz6rpR
— $SPONGE (@spongeoneth) March 9, 2024
The move to scoop up the dump is ongoing as there’s a growing call for dip purchases within the community. In the coming days, SPONGE will likely return to its uptrend. Hence, it is resuming its position as the upcoming cryptocurrency to explode.
4. Band Protocol (BAND)
Will BAND break above the $2.7 resistance? BAND only has to cross this price to kick off its rally. The resistance is the only difference between the current price and a 100% price increase. In the last 24 hours, there’s been an increase of over 5% in the token’s price, which indicates the growing bullish sentiment.
However, the potential of the BAND token is truncated by the growing competition in the crypto oracle sector. Band protocol provides cross-chain data to blockchain-bassed platforms and access to real-world data. With its tech, apps can communicate with on-chain and off-chain sources.
The need for interoperability services like Band Protocols will increase in the coming months due to growing investment in infrastructure-related projects. Hence, investors should expect the increase in the price of the BAND protocol to outgrow the current bull market.
Nevertheless, regarding the bull market, BAND is one of the cryptocurrencies to watch, particularly for short-term ROI. The token’s price is clearing its path to a breakout, and its trading volume is signaling a growing interest. Furthermore, the RSI reading from its chart is fairly neutral, which indicates that the token still has enough room to run.
1/🗞️ BAND's February 2024 Monthly Update is here!
👉 Now Available On: @OasisProtocol’s Sapphire, @Blast_L2’s Sepolia (Testnet), @AuraNetworkHQ, @Vine_Money, @synthr_defi
👉 $BAND partners: https://t.co/MAsM0mQuxa
🧵 More updates down in the thread👇
.#bandprotocol pic.twitter.com/D9lxfg1Pnm— Band Protocol (@BandProtocol) March 8, 2024
According to most metrics, investors can expect token gains to increase in the coming weeks. Still, sadly, that might come after an initial pullback because some oscillators reveal the incoming bearish sentiment. However, the increasing activities and growing use cases within the network might help forestall the dump.
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