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Next Cryptocurrency to Explode Saturday 2 September – Sonik Coin, SafePal, Flare

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CyberConnect CYBER
CyberConnect CYBER

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The global market capitalization currently stands at $1.04 trillion on Saturday. It shows a minor decline of 0.64% within the last 24 hours. A further dip from Friday’s records. Over the same period, the total trading volume of the crypto market dropped to $33.96 billion, marking a decrease of 10.63%. This decrease is paralleled by a total decentralized finance volume of $2 billion, accounting for 5.88% of the overall 24-hour crypto market volume. 

Importantly, stablecoins maintain a significant presence, with a total volume of $32.4 billion. It represents a substantial 95.41% of the entire 24-hour crypto market volume. Regarding market dominance, Bitcoin currently holds a share of 48.27%. The lead coin decreases by 0.09% throughout the day.

Meanwhile, US stock indexes closed with a mixed performance on Friday. A rebound in benchmark Treasury yields accompanied them. This shift followed a US jobs report indicating a rise in unemployment, which solidified expectations that the Federal Reserve will continue with its current interest rates during its September meeting.

The three major indexes initially made gains throughout the trading session but later lost momentum as investors analyzed the jobs data, especially with the long US holiday weekend approaching.

Ultimately, the S&P 500 and the Dow concluded the day with modest gains, while the tech-heavy Nasdaq essentially ended the session unchanged. Despite the day’s mixed performance, all three indexes recorded weekly gains.

Next Cryptocurrency to Explode

Continuing the Federal Reserve’s rate cycle is quite paralyzing for market players. However, some hope that it will be a September to remember in other regards.

1. Sonik Coin (SONIK)

Sonik Coin emerges as a top memecoin pick and the next cryptocurrency to explode. For those acquainted with the project, this comes as no surprise. It’s centered around the beloved animated character “Sonic the Hedgehog,” offering an attractive investment opportunity, particularly for early backers due to its modest market capitalization. 

Currently, the coin is in its presale phase with a relatively conservative target of just over $2 million. Sonik Coin is scheduled to launch on leading cryptocurrency exchanges this month. Given the momentum seen in its presale, it appears poised to ride the memecoin trend. Investors participating in the presale stand to gain significant upside potential thanks to its low initial cost and hard cap.

Sonik Coin’s Sonic the Hedgehog theme resonates broadly with kids and adults, particularly in Asian markets known for their substantial memecoin investor base. Following the launch of Sonik, one can anticipate the emergence of imitators, further cementing the original’s dominance.

However, Sonik Coin’s appeal extends beyond its theme. An intriguing feature of the project is its stake-to-earn utility, designed to reduce initial selling pressure and improve its long-term viability. By staking Sonik Coins, investors can deposit them into a Sonik staking smart contract, and they will earn rewards over four years. This serves as a hedge against market volatility and ensures a consistent stream of passive income over the long run.

Sonik wants to become the fastest cryptocurrency to reach a $100 million market capitalization. Integrating the stake-to-earn feature represents a crucial step toward achieving this goal by reducing the circulating supply. Impressively, 40% of Sonik’s total supply is allocated for community staking rewards.

Sonik Coin seeks to differentiate itself from fleeting meme coin sensations by demonstrating long-term sustainability. A thorough analysis of its website, white paper, and roadmap indicates its potential to reach a substantial market capitalization of approximately $500 million in the years ahead.

The combination of a low initial market capitalization resulting from a conservative presale target provides early Sonik Coin investors with ample room for significant returns.

Visit Sonik Coin.

2. CyberConnect (CYBER)

CyberConnect (CYBER) has experienced a huge surge in price over the past week. It surpassed even top-10 cryptocurrencies like Bitcoin and Ethereum. It takes the pose of the next cryptocurrency to explode. However, a closer examination of this uptick suggests that it may result from Korean traders. They are particularly known for engaging in pump-and-dump schemes.

Over the last week, the price of the CyberConnect token has surged by over 200%, and it has gained almost 230% compared to Bitcoin. Interestingly, the token’s value varies across different exchanges. On Binance, it’s approximately $9.7, while on CoinMarketCap, it’s $10.56. However, on Upbit, a South Korean cryptocurrency exchange known for its significant trading volume, the token is trading at nearly $15.0 against the US Dollar at the time of writing.

CYBER price chart

This surge in price aligns with a substantial open interest of up to $200.69 million, indicating the extensive CYBER contracts that remain open. However, as the price surged, approximately $4.6 million in short positions were liquidated, triggered by the automatic closure of traders’ stop losses. In contrast, only $806,510 worth of long positions were liquidated, a total liquidation of nearly $5.5 million.

Despite the attractive long candlestick observed on September 1, with CYBER trading at $0.00115076 against BTC, there is a looming possibility of a significant drop. This cautious outlook is based on the likelihood that Korean traders may be the driving force behind this uptrend, known for their involvement in such market movements.

3. Flare (FLR)

The Flare coin made a notable entrance in early 2023, sparking considerable attention. However, its journey since then has been marked by challenges. On August 18, it reached an all-time low, and although there has been some recovery, it remains far from its initial debut levels.

Nevertheless, efforts are underway to transform Flare into a Proof-of-Stake blockchain to enhance its speed, cost-effectiveness, and environmental sustainability.

It’s important to remember that price predictions, especially for a potentially volatile asset like cryptocurrency, often prove inaccurate. Additionally, traders should be aware that many long-term crypto price forecasts are generated using algorithms, making them subject to change.

FLR price chart

CoinCodex provided a short-term Flare price prediction, indicating a potential drop to $0.01267 by September 3 and a climb to approximately $0.015 by September 28. Their technical analysis leaned heavily bearish, with 22 indicators sending discouraging signals, while only two appeared bullish.

DigitalCoinPrice projected that Flare would reach $0.0265 within the current year, whereas suggested it might trade at $0.018. Bitnation’s Flare price forecast anticipated a value of $0.0204 in 2023.

Bitnation extended its projection, estimating FLR to trade at $0.0478 in 2025. DigitalCoinPrice closely followed, proposing that the coin could reach $0.0476 during the same period. envisioned FLR trading at $0.035 in two years.

The coin rose by 3.56% in the early hours of Saturday despite the market turmoil and cemented its place as the next cryptocurrency to explode.

4. SafePal (SFP)

Over the past 24 hours, SFP has experienced a 2.96% surge against the US Dollar, bringing its current trading price to $0.55. It has also seen an 8.1% increase against BTC and a 5% rise against BNB. The token achieved a trading volume of $9.48 million during this period.

The previous week has been marked by volatility for SFP. It commenced the week at approximately $0.50, and as the broader crypto market faced a decline on Tuesday, SFP followed suit, briefly dropping to $0.432 before surging by over 23%. In 2023 thus far, the token has risen by about 37%, fluctuating between $0.35 and $0.60 throughout the year.

SFP price chart

Upon its launch during the last bull market in February 2021, the SFP token initially traded at $1.34. Consequently, while SFP has also witnessed a 46.3% increase over the past year, it remains 87.3% below its all-time high (ATH) of $4.19, reached in February 2021. Notably, the lowest point SFP touched was in June 2022 at $0.269.

SFP is the native token within the extensive non-custodial crypto wallet suite SafePal. This token has a total supply of 500 million, with 369 million circulating.

Of the total supply, 20% is allocated to the SafePal Foundation, a non-profit entity responsible for network governance. The founding team retains 20%, while an additional 15% is set aside for airdrops. Another 15% is earmarked for developing and marketing the company’s product, with 5% dedicated to fostering the growth of SafePal’s ecosystem. Of this allocation, 10% was made available in a public sale, while the remaining 15% was distributed through private funding rounds.

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