Next Cryptocurrency to Explode Saturday 8 July - Thug Life, ApeCoin, Avalanche

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The recently released jobs data in the US left stocks flat on Friday. Traders were left shocked at the unexpected reports, hence, the market ended the week lower than it began. The US Federal Reserve has yet to find a lasting solution to the escalating inflation rate. The Feds are expected to raise rates this month and the next after waiting out last month.

The result of the stock market slide was felt in the crypto market almost immediately. The crypto market is currently up by 0.20% according to CoinMarketCap. Data on CoinMarketCap also reveals an impressive outing of the crypto market today. Investors seem to be actively seeking alternative investments. They are also favoring new crypto projects too.

Whether the crypto market will sustain investors’ attention for the long term depend on a number of factors. First, investors must have sufficient confidence in the market for them to hold assets for the long term rather than dump them at the slightest shaking. Increased market activities will also increase their appetite for risky assets once the value of individual tokens is bolstered.

The larger global financial market will keep watching events in the world’s largest economy to see how it influences other markets. The rising costs of energy and food items are also putting economies across the Eurozone under pressure. These factors influence investors’ appetite in various ways for the crypto market.

The Next Cryptocurrency To Explode

1. Thug Life (THUG)

Amid the great win of regular crypto assets irrespective of their category, projects going through their presale phase are also doing amazingly well. Since AiDoge rounded up before its scheduled time, a few other projects picked up the pace right it. Memecoin projects especially.

Thug Life is currently under our radar. The project has raised close to $700,000 while selling at $0.0007.

The hype set around this particular asset is quite different. It is tagged the “memecoin of the baller.” It embraces and promotes the hip-hop “thug life” as exemplified by music stars in that genre of music.

The project is making fun of missed opportunities to invest in some memecoin projects early enough. These include projects like Pepe. It urges the crypto community to take up the attitude of a gangster to face the situation.

While the presale launched recently, the fund it has raised points to the popularity it has so far gained. This project has a hard cap of $2 million. This means that it will not drag on for long like some others. Investors willing to put up a gangster look may want to jump on the Thug Life train right now.

2. Bone ShibaSwap (BONE)

ShibaSwap’s BONE made it to the top of the gainers’ list today because of the incredible innovations going on around it. Investors are looking on ahead with relative excitement.

Shiba Inu’s development lead, Shytoshi Kusama, announced on Friday that the Shibarium mainnet will be released in August. According to him, it will be released alongside the Worldpaper. This sent Shibarium’s gas token price jumping by 25% over the last 24 hours. The gas token, BONE, and the native token, SHIB, have together broken through key resistant levels since then and they are bracing for rallies.

While announcing, Kusama noted that the expected Shibarium L2 protocol might be launched during the Blockchain Futurist Conference scheduled to hold next month in Toronto. The excitement of SHIB holders could be felt everywhere on social media. They have been asking the question “wen Shibarium”? On nearly every Twitter post related to Shiba Inu.

Note that the Shibarium project has been in the development stage for many months. The first fruit of the development team’s effort was seen in the launch of the Puppynet testnet.

As of this moment, the Puppynet testnet has crossed 25 million transactions. Having such a transaction increase on Shibarium shows that there is an increased demand for the network. The direct effect is that it boosts the price of SHIB and BONE over the long term.

Once the Shibarium has been launched, Shiba Inu’s ecosystem will become more decentralized. The community will then take over the process of making decisions and directing the ecosystem. Investors who like to be part of this future and have not bought BONE yet may want to do so now.

3. Avalanche (AVAX)

Avalanche began to do exceptionally well while heading into the weekend. It is one of the top cryptocurrencies that has seen its price hit the roof in the last 24 hours. According to CoinMarketCap, the asset has risen by more than 8% today alone and trading at $13.73. It is now demonstrating incredible strength against Bitcoin and Ethereum. The asset’s current price is close to its daily high level of $13.77. The market now expects the price to rise beyond the daily high and beat it by a considerable percentage before the weekend comes to an end.

AVAX has now broken beyond the major resistance it was held under at $13.69. The market will be watching closely if it will sustain itself at its current price level for a long time. It had already fallen below its resistance level for a brief moment before it rose again. But technical information is pointing to signs that the token is now in a bullish zone, maybe for a short time.

AVAX’s 9-day exponential moving average was observed to cross with bullish strength over its 20-day exponential moving average in the last 24 hours. If this bullish momentum is sustained for long, then the $13.69 resistance line may be turned into support within the next 48 hours. If there is more buying pressure, then we may see the token rise to $15.35 in about a week.

However, if AVAX fails to sustain itself above $13.73 for a long time, the next few days may see it getting at risk. We may see it falling back to the 9-day exponential moving average line. If this trajectory continues, AVAX could hit $12.93.

Sustaining the gains made requires the effort of traders and investors as expected. Investors who would like to be a part of this should join the train.

4. ApeCoin (APE)

ApeCoin is one of the market’s favorites this year and it is making an impressionable mark. The asset, APE, is currently up by 7.08% in the market and is selling at $2.01. The next cryptocurrency to explode is giving signs that it might hit $5 at some point this year.

After a slight trip downhill in the last 48 hours, the rally ApeCoin saw within 24 hours got the market stunned and confident at the same time. Investor confidence is consequently at another level.

As an ERC-20 utility and governance token, ApeCoin plays an important role in the APE community. ApeCoin started to gain a lot of attention when NFTs gained momentum and dominated the crypto space.

For it not to float around and be at the mercy of inconsistent market factors, ApeCoin developers implemented strategies that will improve the utility of the token. Such strategies include giving third-party developers the ability to integrate its usage into their games, services, and any other project they may be working on. Furthermore, they came up with a fund within the ecosystem that will support any project that uses the coin.

These implemented initiatives contribute greatly to the rise of ApeCoin to prominence. They also align the token to the increasing demands for NFTs and other ecosystems associated with them. The ApeCoin development team has positioned it as an important part of the larger crypto market by building partnerships and coming up with needed resources.