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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 has finally gone back above $67K after touching 63K late last month. Meanwhile, Ethereum (ETH) is currently striving to stabilize above $2,600.
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. Dogecoin (DOGE)
One altcoin gaining attention during this bull run is Dogecoin (DOGE), the popular memecoin. Known for its rise in popularity due to Elon Musk’s support, some analysts predict that DOGE could reach a new all-time high in this bull cycle. One analyst even suggests that a price of $10 for DOGE is possible, though this is seen as a long-term target that may take a few years to achieve.
Currently, DOGE is trading at $0.1252, with an 8.21% increase in the past 24 hours. Additionally, its trading volume has surged by 97.71%, showing increased investor interest. The upcoming U.S. elections are also likely fueling this activity.
Hey @elonmusk is that a Shiba Inur taxi? pic.twitter.com/ihfktgc4ds
— Dogecoin (@dogecoin) October 11, 2024
Dogecoin’s fundamentals appear strong, supported by large transactions and steady gains. Over the past week, DOGE has risen by 14.66% and broken through key technical resistance levels, including a breakout in its Relative Strength Index (RSI).
Analysts have also noted that DOGE recently broke out of a double-bottom pattern and found support at $0.112. Since it closed above $0.118, the price could rise by another 20%, potentially reaching $0.135. The RSI indicating that DOGE is in an oversold region could signal an upcoming recovery.
2. Scroll (SCR)
Yesterday, Scroll’s SCR token saw a 10% surge in price after announcing its new partnership with Cysic Network. This collaboration focuses on improving transaction efficiency and security on the Ethereum blockchain by using Cysic’s advanced zero-knowledge (ZK) computing technology.
Thanks to the integration of Cysic’s GPU servers, the time required for ZK proofs has been drastically reduced from hours to just minutes. This upgrade is expected to greatly enhance both the speed and security of transactions on the Scroll network.
Currently, Scroll (SCR) is trading at $1.36, reflecting a 9.39% increase. Its market capitalization has grown to $257.67 million, with a trading volume of $10.05 million, up by 19.51%. Of the 1 billion SCR tokens, 190 million are already in circulation.
However, Scroll has faced some backlash recently since distributing its SCR governance tokens through Binance Launchpool. Many users felt the platform was prioritizing a centralized exchange over its community. In response, Scroll’s co-founder Ye Zhang explained that the partnership with Binance was part of a broader strategy for growth. While acknowledging the criticism, he emphasized that this move was essential for the project’s future development.
🔍 Behind the Scenes: How Scroll Enabled Open Source VRF be Deployable on All EVMs
A fully open-source Verifiable Random Function (VRF) is now deployable on ALL EVM chains. This tool was made possible through Scroll's backing of the @AnyrandVRF team.
Take a look of how it all… https://t.co/bWln54taCS
— Scroll (@Scroll_ZKP) October 15, 2024
Despite concerns about centralization, some supporters believe the Binance listing could help Scroll expand more quickly, especially in new markets. Binance provides easier ways for users to interact with the Scroll network, which may improve user accessibility. On the other hand, critics argue that partnering with a centralized exchange contradicts the core values of decentralization that many in the crypto community support.
3. Pepe Unchained (PEPU)
Investors looking for new opportunities may want to consider Pepe Unchained (PEPU), a layer-2 derivative of the popular PEPE meme coin. In its presale, PEPU has already raised over $19.8 million, showing strong interest from the market.
Another massive milestone hit!
Builders ready? We've got something exciting coming!😉 pic.twitter.com/yD516Iys3G
— Pepe Unchained (@pepe_unchained) October 14, 2024
What sets Pepe Unchained apart is that it offers real utility, unlike many other meme coins. Similar to major projects like Ethereum and Solana, PEPU uses its native layer-2 network to improve scalability. This allows it to process transactions faster and with lower fees compared to networks like Ethereum, Solana, and TON. Initially, the popular meme coin PEPE will benefit from this technology, but Pepe Unchained aims to extend these improvements to the entire meme coin sector, making transactions more efficient for all.
According to YouTuber Clay Bro, who has over 130k subscribers, PEPU is already being compared to PEPE, the third-largest meme coin with a market capitalization of $4.3 billion. Pepe Unchained has also launched a developer grant program called “Frens with Benefits” to attract talent and encourage decentralized app (dApp) development on the Pepe Chain.
Investors can also stake their PEPU tokens for an annual return of 111%. So far, over 1.4 billion PEPE tokens have been staked. The presale price for $PEPU is $0.00999, and tokens can be purchased using $ETH, $USDT, $BNB, or a bank card. However, buyers need to act quickly, as a price increase is expected in less than 15 hours.
4. Kucoin Token (KCS)
KuCoin Token (KCS) is the native cryptocurrency of the KuCoin exchange, which was launched in 2017. It was created to offer users benefits like reduced trading fees and a share of the exchange’s profits. Initially built as an ERC-20 token on the Ethereum network, KuCoin plans to gradually reduce the total supply of KCS from 200 million to 100 million by buying back and burning tokens.
Currently, KCS is priced at $8.72, with approximately 120.4 million tokens in circulation, giving it a market value of around $1.05 billion. Since hitting its lowest point in 2019, KCS has grown significantly, rising by over 2,278%. KuCoin is working to increase the token’s utility by integrating it into new features and services on the platform.
Looking ahead, KCS will become the native asset for KuCoin’s decentralized financial services and the governance token for the KuCoin community as the platform develops its decentralized trading solution. KuCoin has made it a priority to “Empower KCS,” aiming to make it a key product in the ecosystem, which will provide even more benefits for its holders.
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💰 Don’t miss out on exclusive rewards from our monthly trading events on #KuCoin.
🚀 Don't miss out and register today
— KuCoin (@kucoincom) October 16, 2024
With solid fundamentals and a strong community backing it, KCS shows potential for future growth. If KuCoin partners with other networks, the token could surpass $15 in value. If the current bullish trend in the crypto market continues, KCS could average around $10.19 by 2024.
5. Celo (CELO)
Celo is a decentralized platform designed to support crypto indices and actively managed funds operating on the Solana blockchain. It uses the Celo Engine to offer a range of services, including on-chain funds, indices, and multi-token liquidity pools. Additionally, it enables liquidity routing between indices and decentralized exchange (DEX) aggregators, making it a versatile tool in the DeFi space.
Celo also provides public APIs, allowing other DeFi projects to integrate its products easily. Fund managers can create and manage funds made up of multiple tokens, which can be reweighted, rebalanced, or filtered based on custom rules. Users can also set up their own actively managed funds or indices and trade funds created by others.
Recently, Celo performed well in the market, reaching a 24-hour high of $0.8736 after dipping to a low of $0.7661. At the time of writing, it is priced at $0.8097, reflecting a 2.82% gain. This rise in value suggests increased buying interest and a positive shift in market sentiment.
Celo is currently trading 54.72% above its 200-day simple moving average (SMA) of $0.524995, and it has recorded 21 green days in the last 30, showing a 70% positive trend. Technical indicators point to a favorable outlook as of October 16, 2024.
Welcome to the Celo ecosystem, @BRLAdigital! 🙌
Their Brazilian Real-pegged stablecoin, BRLA, is now live, further expanding the network's robust ecosystem as the 10th native stablecoin deployed on Celo 🇧🇷
🧵 Keep reading to learn more about BRLA's solutions & their impact ↓ pic.twitter.com/ryuUewimW9
— Celo 🦇 🌳 (@Celo) October 15, 2024
In addition, Celo recently launched BRLA, a stablecoin pegged to the Brazilian real. This marks the 10th native stablecoin on the Celo chain, highlighting its commitment to providing accessible financial tools through blockchain technology, particularly for underserved communities in Brazil and beyond.
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