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The overall feeling in the market is surprisingly negative, and cryptocurrency prices have been fluctuating for a while, including Bitcoin (BTC). BTC is struggling to stay above $60K after touching 63K late last month. Meanwhile, Ethereum (ETH) is currently striving to stabilize at $2,400.
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 Pepe Unchained, a new Pepe-themed meme coin launched on its Ethereum Layer 2 blockchain. Within minutes, it attracted over $150,000 in investments. The details of its presale and the performance of the top-performing cryptos today are shared below.
1. Pyth Network (PYTH)
Pyth Network (PYTH) is showing signs of a positive turnaround, bouncing back from a key support level of $5. A breakout pattern suggests the possibility of a rally backed by a local trendline. The RSI is also rising from the middle range, signaling increasing momentum. If this recovery continues, the next target is the 200-day EMA. According to Fibonacci levels, the price might reach $0.50, with a potential spike to $0.67 depending on market conditions.
Recently, Pyth Network has achieved the highest Total Transaction Value (TTV) within the Oracle sector, showing its strong performance. The network has also launched its EIGEN/USD price feed, now accessible across more than 75 blockchains. The $EIGEN token, which is tied to the @eigenlayer protocol on Ethereum, plays a key role in enabling restaking within the network.
Built by DeFi natives, for DeFi natives.@Uniswap has selected Pyth Network to bring real-time data to their new blockchain, Unichain.
Find out what it means for developers, degens, and all of DeFi ⬇️ pic.twitter.com/TNqmX2D6PJ
— Pyth Network 🔮 (@PythNetwork) October 10, 2024
At the moment, Pyth’s neutral momentum, seen in the RSI and Stochastic indicators, suggests the coin is preparing for its next move. If it gains momentum, PYTH could rise by 35% to reach $0.40, signaling a potential recovery for strategic investors.
Pyth Network is a vital player in decentralized finance (DeFi), providing real-time market data to blockchain platforms. This data is critical for running smart contracts and DeFi applications smoothly. Its decentralized Oracle system, which delivers data directly from financial institutions and exchanges, stands out. With updates every 300-400 milliseconds, Pyth ensures that financial operations remain efficient without delays.
2. Sei (SEI)
Sei (SEI) is currently trading between $0.38 and $0.50, sitting close to its support level at $0.32 after a recent 3.5% rise in the past week. Over the last month, SEI has seen a strong 49.61% increase, showing good growth potential. The next resistance levels to watch are $0.56 and $0.69. If SEI breaks through these, it could lead to significant gains, potentially pushing the price 38% higher than its current range.
SEI has been building momentum for 287 days, and the altcoin is now showing signs of a potential breakout. It has secured a position above the 0.236 Fibonacci level, which is a key support point. Investors are eager to see if SEI can break out of its long accumulation phase and make a strong move upward.
The fact that SEI has stabilized above the 0.236 Fibonacci retracement level is a good sign that investors are holding steady. If SEI can break this level, stronger upward movement may follow. SEI is also forming a bullish flag pattern, often a signal for an upcoming breakout. If SEI clears its current resistance, it could trigger the next major rally.
🔴 @infygamestech – Celebrating the migration to Sei with a Community Reward Campaign.https://t.co/WIZE7XHQed
— Sei 🔴💨 (@SeiNetwork) October 10, 2024
While nothing is certain, SEI looks ready for a bigger move. The completed Adam & Eve pattern, combined with the bullish flag, shows growing strength. If SEI breaks out of its accumulation zone, we might see the price surge. However, investors should keep an eye on the market for confirmation of this upward move beyond the current accumulation zone.
3. Pepe Unchained (PEPU)
Pepe Unchained (PEPU) stands out from other meme coins by offering more than just community hype. Unlike its predecessors, PEPU provides real utility, similar to major blockchain projects like Ethereum and Solana. With its native layer-2 network, Pepe Unchained aims to bring scalability to the growing meme coin market.
By handling transaction processing for meme coins, Pepe Unchained can offer faster speeds and lower fees compared to networks like Ethereum, Solana, and the TON chain. The first token to benefit from this will be the popular meme coin, PEPE. After that, Pepe Unchained plans to extend its technology to the entire meme coin sector, improving efficiency for all.
So far, Pepe Unchained has raised over $18.5 million through its ongoing presale. This includes several large purchases from crypto whales, with the largest being a $50,000 buy, followed by two more purchases of $16,000 and $15,000. With its growing utility and appeal to meme coin investors, many analysts are optimistic about PEPU’s future.
And with that, Pepe Unchained reaches $18.5M raised.
The community is STRONG. The tech is STRONG. And we're gaining new ground everyday. 💪 pic.twitter.com/kEzq8lVIge
— Pepe Unchained (@pepe_unchained) October 10, 2024
For those looking to invest early, PEPU is available for $0.00995 on Pepe Unchained’s website. It can be purchased using ETH, USDT, BNB, or a bank card. However, prices are set to increase soon, with the next hike happening in less than 5 hours. Investors who want to lock in the best rate should act before prices go up as the ICO progresses.
Visit the Pepe Unchained Presale
4. XRP (XRP)
XRP (XRP) has shown slight bullish movement over the past 24 hours, rising to $0.536. This increase comes from its underbought status on yearly timeframes and renewed interest from large investors. XRP’s 24-hour trading volume has surged past 1.3 billion, signaling a potential breakout. This could mark the beginning of an upward trend, possibly pushing the price closer to $1.
Looking at the long-term charts, XRP is following a bullish trend, moving within an ascending parallel channel. Over the past week, the price has risen by 2.10%. The weekly on-balance volume also shows a bullish divergence, indicating strong control from the bulls. With this momentum, XRP is expected to continue its upward movement and reach the average levels within the channel in the coming weeks.
Despite concerns surrounding the Mt. Gox reimbursement, XRP’s price has climbed by nearly 1.7%. The overall crypto market capitalization has risen by 24.50% since July 5, but XRP’s rebound has been notably stronger.
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Although XRP’s current price is 83.81% below its all-time high of $3.31, analysts remain positive about its future. The Bollinger Bands for XRP are tighter than those of Bitcoin and Ethereum, which suggests a potentially significant price move. One analyst, using Gann’s theory and Fibonacci retracement levels, predicts that XRP could reach $250 by 2028. He believes that if assets like Bitcoin and Tesla can hit similar Fibonacci extensions, XRP could achieve this ambitious target as well.
5. Solar (SXP)
SXP is the cryptocurrency behind The Solar Network, a decentralized layer-1 blockchain, and it’s gaining attention as it expands its utility. With SXP branching into new sectors like the metaverse, many are optimistic about its future. This growing sector is expected to thrive in the coming year, which could push the price of SXP as high as $0.45.
However, if there’s a financial crisis or new regulatory hurdles, the price could drop to $0.15. In a more balanced scenario, with steady competition, SXP might settle around $0.30. If partnerships and platform growth continue and more investors focus on SXP, the price could climb even higher, potentially reaching $0.61.
Last month, Solar (SXP) saw a sharp increase in activity. On Upbit, trading volume surged by 150.84%, jumping from an average of $40,000 to $101,000 in just an hour. This spike shows strong demand, especially in the South Korean market, likely due to speculative buying. In contrast, Binance saw a 19.55% drop in volume, from $99,000 to $80,000, highlighting different market reactions between regions.
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