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The overall crypto market outlook signals an incoming strong Base chain wave. Assets in the network may see a dramatic price surge in the coming quarter. Some of these tokens already post trends that position them as the next cryptocurrencies to explode.
Coinbase’s ownership of the Base chain gives the network the fuel it needs to sustain its growing rally. At the time of writing, the social mention of the chain has increased dramatically. Besides, traders, influencers, and investors are moving to capitalize on the opportunity.
Next Cryptocurrency To Explode
Meanwhile, while the market waits for the Base wave to take effect, newly launched projects remain the top money spinners in the crypto market. SPONGE is one such project that has recorded over a 1000% price increase since its launch this quarter. The details of its price movement are also covered in the post.
1. Aerodrome Finance (AERO)
AERO is quickly becoming Base Chain’s favorite token. The project’s price has increased by over 900% since the announcement of the Coinbase stake in late February. In the last 24 hours, the asset’s price has increased by over 30%, with a 300% increase in trading volume. The growing visibility of the token gives it the hedge it needs to outperform many tokens in the market today.
Moreover, the growing popularity of the BASE chain is partly responsible for the increase in the value of the AERO token. As the hype around the BASE chain continues, it will likely influence the value of the AERO token. Ultimately, AERO will likely retain its place near the top of the crypto gainers list.
Apart from the Base chain hype, the performance of the AERO token in the coming months would likely be influenced by its growing TVL value. According to the post on its official Twitter handle, the value of its TVL is gradually moving closer to the $1 billion mark. The overall investor appeal of its growing TVL will act as the catalyst for the next leg of its uptrend. Thus, it is best to take note of the AERO trend to see how it unfolds in the coming months.
Aerodrome has reached a new record high of over ~$355M in TVL which delivered ~$194M volume last epoch.
Aerodrome now accounts for ~44% of @base's TVL which will be integrated with our new Slipstream AMM in the coming weeks. pic.twitter.com/vyDZvEoE2w
— Aerodrome (@aerodromefi) March 22, 2024
Also, it’s essential to note that AERO has yet to appear on major CEX platforms besides Coinbase, and the arrival of the token on CEXes is another catalyst to watch out for. Upon arrival on major exchanges, the token price would likely swing into a parabolic trend.
2. Sponge V2
SPONGE has maintained a consolidation trend for over five days now, with the price swinging between a 5% increase and a decrease. The overall uncertainties in the crypto market largely fuel the sideways trend. However, the sideways consolidation moves are not native to the SPONGE token, as many assets in the memecoin category also posted similar price action.
Buy $SPONGE or stay poor 🧽💦 pic.twitter.com/ELUaNzxS8H
— $SPONGE (@spongeoneth) March 22, 2024
As the new week commences, there are signals of an impending uptrend in the crypto market, and many meme cryptos are already on an upward trajectory. At the time of writing, the SPONGE chart reveals a momentary spike in the price of SPONGE. The price increase is also complemented by a surge in the trading volume of the asset, which indicates that the market is making a decision.
SPONGE will finally settle for a direction as the crypto market returns to its bullish rally. Nevertheless, bullish indicators show investors buy the token at a dipping price. Hence, it might not be long before the trend moves toward the bulls.
3. Fantom (FTM)
Fantom’s decision to reduce the impact of the 2023 exploit of Multichain Foundation on its holders is finally paying off. With the current price actions of the FTM token, investor confidence returns to the asset, especially as it breaks above the $0.91 resistance. As of the time of writing, the price of FTM is slightly over $1.1, which brings its gains in the last 30 days to about 169%.
However, FTM would likely maintain its meteoric rise in the coming quarter days as it sees even more upsides. The upcoming mainnet launch of its Sonic upgrade has positioned the FTM token as a cryptocurrency to watch. Many believe the mainnet launch would likely usher the token’s price to the $2 range.
According to an update on its official Twitter handle, the Sonic mainnet launch is expected in late March or early April. Thus, investors watching FTM should keep a closer eye on its price action as it might become the next cryptocurrency to explode.
Some SONIC testnet highlights discussed by @MasonCorval and @DraculaPresley on the latest #GMSONIC. Breakneck speed and finality with institutional grade TPS. #Fantom @FantomFDN @theFantomgoat pic.twitter.com/HnFz4ZnNA0
— Fantom Talk (@FantomTalk) March 20, 2024
Nevertheless, Data from its technical analysis shows that the token is trading near its overbought zone, which means it might soon face a momentary pullback before moving into its next leg up.
Overall, If FTM breaks above the resistance levels at the $1.2 – $1.3 price range, there are hardly any obstructions on its way to its ATH value. Conversely, the investors might wait for the coming pullback before deciding on the asset.
4. Dogecoin (DOGE)
The price of DOGE has increased by over 41% since the announcement of its use in Tesla payment options. DOGE’s surging price has pushed it to the number 8 cryptocurrency by market cap.
Interestingly, the gains of DOGE are far from over, as the token printed over a 5% price increase in the early hours of today. The gains result from the impending Coinbase international launch of DOGE futures. The date for the launch is set for April 1, and there is a high chance that the arrival of its future on Coinbase will result in a massive rally for the token.
In addition to the Coinbase futures listing of April, the 20th of April is another critical date on the Dogecoin calendar. The day is set apart for the Doge Day, which is earmarked to remind the crypto community of the fun angle to the memecoin sector. When deciding on the coins to look into in the second quarter, DOGE should make investors’ list of must-watch tokens. Generally, the visibility it’ll receive from the upcoming events positions it for an explosive gain.
Above all, the event would trigger a new wave of interest in the asset as memecoin is known to respond positively to such an event. Ultimately, investors who get in early would likely reap an impressive ROI.
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