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Every day, the cryptocurrency market experiences changes and developments that shape investment choices. Last month, the cryptocurrency market experienced heightened volatility as several tokens experienced price fluctuations. But things are already starting to look up for smart investors.
The crypto market is observing a noteworthy increase in trading signals, leading investors to actively search for the next promising token. However, being able to spot the next cryptocurrency to explode amidst this abundance requires a thorough understanding of the market dynamics. Today’s article identifies coins with some potential and informs investors and traders about each token.
Next Cryptocurrency To Explode
Today’s review highlights promising cryptocurrencies that investors should keep an eye on. Among these is a new project called FreeDum Fighters. FreeDum Fighters is a satirical token that combines crypto with political drama. Currently, in stage 1 of its presale, the project has already laid out a clear roadmap. Investors looking for something fresh should consider adding FreeDum Fighters to their watchlist.
1. Dogecoin (DOGE)
Dogecoin recently rebounded from a key support level at $0.14, marked as the “red level” by analyst Rekt Capital. Previously a resistance point, this area has now become a strong support base, aiding DOGE’s quick upward move. Analysts suggest that holding above $0.14 is crucial for sustaining DOGE’s bullish momentum, paving the way for a potential extended rally.
Shortly after confirming this support, DOGE rose to around $0.16, gaining 16% in just a few hours. This rapid increase reflects a positive shift in trader sentiment, with many eyeing higher levels as long as DOGE holds above this crucial support. This trend may also indicate buyer accumulation following a solid rally for DOGE.
The hourly charts show some bearish signs for Dogecoin, with RSI and MACD indicators trending down. However, steady accumulation and potential capital rotation from DOGE could still support its upward movement.
DOGE is now nearing the $0.16460 resistance level. According to analyst Rekt Capital, a breakout and consolidation above this point could boost its bullish outlook. This level, marked as a “blue line,” presents an immediate challenge for DOGE in the near term.
If DOGE successfully breaks past this level, it could set up its next upward target. However, if it doesn’t, a short consolidation or pullback might follow, giving DOGE a chance to build momentum for another push. An ambitious target at $0.20745, noted on the chart as the “upper black line,” represents a key technical and psychological barrier, aligning with the $0.20 mark.
2. Sui (SUI)
SUI is a Layer 1 blockchain focused on fast, private, and secure digital asset ownership. Recently, it has shown strong performance in the recovering crypto market. In the last 24 hours, SUI’s price jumped by 17.54%, and over the past month, it rose around 17.56%, pushing its market cap to over $5.49 billion as of October 29.
Sui Network also addressed an issue with staking rewards, planning to resolve on October 27 at 20:30 Turkey Standard Time, during epoch 564. The problem was caused by an error during an epoch transition on October 24, which delayed staking rewards for epochs 560 to 563. Following this issue, SUI’s price dropped by 6.80% to around $1.70 but recovered partially to $1.99, with trading volume increasing by 92.60% to $1.16 billion, showing user interest remains strong.
Experts believe that today’s resolution will help rebuild user confidence and could support SUI’s price recovery. Sui Network advised users not to unstake tokens before the new epoch to avoid losing accumulated rewards for the affected periods.
🚨BREAKING: Deposits and withdrawals of $USDC on Sui is live on @Coinbase!
🌐Seamless transactions
💥Ultra-low fees
⚡Blazing-fast speeds📨Users can now send USDC to their Sui wallets directly from Coinbase, providing a seamless experience onboarding into the Sui ecosystem. https://t.co/MwBdKtRLkG
— Sui (@SuiNetwork) October 24, 2024
Meanwhile, Transak, a global payment provider, saw transaction volumes within Sui Wallet grow by 300% month-over-month in September, with strong demand continuing into October. This growth highlights the rising interest in Transak’s transaction solutions alongside the expanding SUI ecosystem.
3. FreeDum Fighters (DUM)
FreeDum Fighters ($DUM) has raised over $300,000 as interest in political meme coins surges before Election Day. In just over a week since its campaign launch, this playful project has attracted fans from both sides of the political spectrum, tapping into the intense rivalry of the U.S. presidential race.
FreeDum Fighters lets users vote for a “world leader” with a humorous twist: MAGATRON, a mechanized version of Donald Trump, or Kamacop 9000, representing Kamala Harris. Crypto enthusiasts can join in by purchasing $DUM tokens, now priced at $0.000055 during the current round. Time is tight, though; the next round opens in under four hours, raising the token price by 36.36% to $0.000075.
With political crypto tokens rising, candidates’ stances on crypto policies are key to voters. Trump, called the “crypto president,” is ahead by 2% in a recent Wall Street Journal poll. However, Harris has gained ground, backed by Ripple co-founder Chris Larsen, who donated $10 million in XRP to her campaign. Ripple CEO Brad Garlinghouse, while neutral, praised her as forward-thinking and pro-technology.
Bitcoin looking great, and so is PolitiFi 🦾 Trump might actually make us all millionaires 👀 pic.twitter.com/pikUo3lqqa
— FreeDum Fighters (@Freedum_Fighter) October 29, 2024
Voting involves staking $DUM tokens in pools for each candidate. MAGATRON currently offers a strong 326.83% APY, while Kamacop 9000’s pool shows a remarkable 1,378% APY. Despite this, 75% of presale investors support MAGATRON. Kamacop fans can level up by joining debates on social media, where those staking their tokens can earn more $DUM for making strong cases for their candidate.
Visit the FreeDum Fighters Presale
4. Mog Coin (MOG)
Mog Coin (MOG) has seen some ups and downs this past month but remains mostly bullish. Currently, MOG is priced at $0.000001942, reflecting a 9.95% rise in the last 24 hours. Along with this increase, its market cap has grown to $758.50 million, and trading volume has jumped 36.24%, reaching $33.92 million. The total supply stands at 390.57 trillion tokens, with a maximum of 420.69 trillion, indicating strong recent demand.
In the past week, MOG’s price dipped slightly by 2.42%, yet its daily and monthly trends stayed positive. Social media posts suggest that several celebrities and crypto influencers have invested in MOG, boosting its popularity. However, with a market cap of $759 million, some wonder if it’s too late to buy in.
A big factor in MOG’s success is its strong social media presence, which keeps the community engaged. For those seeking affordable tokens with growth potential, Mog Coin offers an interesting option. Its resilience during market corrections has strengthened investor confidence.
The future is bright and moggish 🫵😹 pic.twitter.com/ReC2IBwRi1
— MOG COIN (@MogCoinEth) October 27, 2024
While some analysts believe MOG could hit a $4 billion valuation within six weeks, others are more cautious. They note that meme coins often surge to $1 billion but slow as whales shift to new coins. Investors might consider waiting for a price dip before entering.
5. Shiba Inu (SHIB)
Shiba Inu currently holds a market cap of $10 billion, prompting investors to wonder if it could return to past highs of $20 billion or even $40 billion in the next bull market. While excitement around other meme coins is rising, Shiba Inu has seen less action and volatility. This may be due to its larger market cap and higher liquidity, which tend to reduce sudden price movements.
Today, on October 29th, Shiba Inu is priced at $0.00001857, with a 24-hour trading volume of $620.43 million and a market cap of $10.94 billion. Over the past day, its price has climbed by 7.57%. After reaching an all-time high during the last bull market in February, Shiba Inu has since corrected by more than 75%. However, it has recently shown signs of forming a higher low, sparking hopes that it might break through key resistance levels around $0.000021 to sustain its upward momentum.
The sentiment around Shiba Inu currently feels like a waiting game, with many investors remaining cautious. While this phase may seem uneventful, it provides a good opportunity for strategic accumulation before the next rally.
NFT bridge is now live on Shibarium! 🎉 Easily deposit and withdraw your NFTs. Check out our thread for a step-by-step guide. #Shibarium https://t.co/cIFvr2555l
— Shib (@Shibtoken) October 28, 2024
In the meantime, Shiba Inu’s developers continue to enhance the ecosystem, focusing on performance and user experience. Recently, they introduced ShibaSwap 2.0, an upgrade to their previous version of the platform.
With ShibaSwap 2.0, users can now claim rewards without removing their liquidity, and liquidity providers can set price ranges to boost capital efficiency and optimize returns. Another major feature, Multi-Hop Swaps, allows for multi-pair trading, enabling more complex transactions for users.
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