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Many altcoins are trying to make a comeback as they record significant gains. Bitcoin (BTC) is still struggling to return to $60,000, hoping to find support for its next big move. Investors need to stay alert during this consolidation phase as it could be a chance to catch a ride on a rising trend.
Prices of these various assets are climbing, even before the market takes off entirely. That is why today’s article is dedicated to identifying the next cryptocurrencies to explode and inform investors and traders about each token.
Next Cryptocurrency To Explode
Smart investors are moving to capitalize on the boom in the altcoin market and taking positions in upcoming tokens like the Shiba Shootout. The project features a unique Wild West design, combining this popular period from American history with the crypto frontier. This post covers the details of its presale.
1. Internet Computer (ICP)
The Internet Computer aims to transform the Internet by establishing a blockchain-based network capable of running smart contracts at web speed. This project seeks to decentralize web infrastructure and create new applications, potentially attracting significant interest and investment in the future.
The Internet Computer blockchain uses advanced cryptography to introduce the concept of a “World Computer” blockchain. This technology enables the development of various online systems and services without needing traditional IT infrastructure, such as cloud computing, aiming for complete end-to-end decentralization.
Currently, ICP is trading at $8.11, showing a 14.23% increase in intraday trading. This performance is favorable compared to its initial token sale price. The token also demonstrates high liquidity relative to its market capitalization.
In other news, ICP has recently partnered with the United Nations Development Programme (UNDP) and the DFINITY Foundation to improve financial access for Micro, Small, and Medium Enterprises (MSMEs) worldwide through the Universal Trusted Credentials (UTC) initiative. This collaboration aims to enhance domestic financing access for MSMEs and facilitate trade financing across participating countries by fostering cross-border trust in data.
The latest #InternetComputer News and Updates are out
🇧🇪 #ICP at @EthCC
💻 Partnership with @UNDPtech
🏟️ @pointzeroforum Innovation Tour
🇺🇸 Sign up for Chain Fusion Day NashvilleMore 🖇️ https://t.co/CT5qpSRsLI pic.twitter.com/NBRS29mbgE
— DFINITY (@dfinity) July 12, 2024
Meanwhile, CME Group, the leading derivatives marketplace, and CF Benchmarks, a top provider of cryptocurrency benchmark indices, support the institutional adoption of cryptocurrencies. They are launching new reference rates and real-time indices for Ripple’s XRP and Internet Computer (ICP).
These benchmarks, set to launch on July 29, will be calculated and published daily by CF Benchmarks. Although not tradable as futures contracts, they are designed to improve price transparency and cryptocurrency discovery.
2. Ronin (RON)
Ronin Network, an Ethereum-based sidechain, has experienced significant growth. Its native token, RON, is now one of the top gainers among major cryptocurrencies. RON is trading at approximately $2.14, an increase of about 11.68% in the last 24 hours and 27.43% in the previous week.
The highest price RON has ever reached was $4.46 on March 26, 2024. Its lowest price was $0.00004011 on March 13, 2020. Since reaching its peak, the lowest price recorded was $1.54779, while the highest was $2.16.
RON’s price increase can be linked to its recent integration with Coins.PH, a regulated Filipino crypto exchange that has added PHPC liquidity to the Ronin blockchain. This is significant because the Philippines is a key market for Axie and Ronin users.
This integration allows for rapid and low-cost transactions in Philippine Peso, enhancing Ronin’s practicality for daily financial activities. Users can now make peer-to-peer transfers, merchant payments, remittances, and business transactions more efficiently, which increases Ronin’s utility and attractiveness.
Regarding network advancements, Ronin Network has announced the migration of the MMORPG game The Forgotten Runiverse. This game features a large world with gameplay, community-driven narrative development, NFT collections, a multimedia ecosystem, and goods. The game’s Twitter account has nearly 59,000 followers, indicating its growing popularity.
Considering Ronin’s recent developments and performance, the outlook for its price in July is cautiously optimistic but tempered by various factors. Over the past year, RON has shown exceptional growth, with its price increasing by 209.32%. It has outperformed 79% of the top 100 crypto assets and surpassed Bitcoin and Ethereum in performance. Currently, RON is trading above its 200-day simple moving average and near its cycle high, benefiting from high liquidity due to its substantial market cap.
3. Shiba Shootout (SHIBASHOOT)
Shiba Shootout ($SHIBASHOOT) is making significant progress, surpassing $640,000 in its presale. This Wild West-themed meme coin goes beyond a simple shoot-’em-up concept. It is creating a community-driven frontier with meme-making duels, poker tournaments with a crypto twist, and exciting virtual treasure hunts. Additionally, it features a play-to-earn (P2E) game now available on Google Play and the Apple App Store, where players can earn $SHIBASHOOT tokens.
Investors hoping this meme coin will be the next Shiba Inu can still buy more tokens in its ongoing presale. At just $0.0195 per token, $SHIBASHOOT is expected to increase in less than 24 hours. So, don’t hesitate! Grab your crypto wallet and purchase $SHIBASHOOT before other investors do.
Shiba Inu-themed tokens dominated the meme coin craze in 2024. Despite the market downturn lasting over a month, Shiba Shootout has continued to raise funds for its thrilling, community-driven ecosystem.
In Shiba Gulch, players come together for challenges, share laughs over memes, and look forward to epic meme battles. Central to all this excitement is the $SHIBASHOOT token, which offers various ways to earn and use it. With $SHIBASHOOT, users can enter the “Lucky Lasso Lottery” for a chance to win big crypto prizes or participate in important project decisions through “Token Governance Roundups.”
Beyond the game’s launch, tokens can also be earned by joining “Campfire Stories” sessions, where sharing compelling crypto tales can reward users with more $SHIBASHOOT tokens. Inviting new members to grow one’s “posse” can earn bonus tokens. Shiba Shootout emphasizes community spirit, where members interact, compete, and enjoy themselves in a uniquely friendly atmosphere.
Visit the Shia Shootout Presale
4. Axelar (AXL)
At the time of writing, AXL is trading at $0.7239, an increase of over 19.70% in the last 24 hours. Despite recent fluctuations, the altcoin has gained about $0.192 over the past week. Additionally, AXL has shown a positive trend, with a 38.97% increase in value.
The XRPL EVM Sidechain launch aims to expand the XRP Ledger (XRPL) use cases and interoperability. The Axelar Bridge is central to this project, serving as the main link between the XRPL mainnet and the EVM Sidechain. This bridge allows the transfer of native and gas token-wrapped XRP (eXRP) across networks.
Furthermore, Axelar has shown significant potential recently, offering a promising investment opportunity. Over the past year, AXL has surged by 92.21%, adding an average of $0.61 to its value. This rapid growth suggests the coin could be a valuable asset if its upward trend continues.
For blockchains to chat is trivial.
To verify each message, at scale, with the strongest security + liveness known to humanity? This is the way.
1,000,000 chains 🟠 🦾https://t.co/BRPfrMQV0j
— Axelar Network (@axelarnetwork) July 10, 2024
By 2025, the Axelar network is expected to achieve significant adoption and development, leading to a notable increase in the Axelar token price. An optimistic scenario projects the average cost of Axelar at around $8.5 in 2025, with the highest price reaching $10. This rise is expected due to a favorable regulatory environment and the growing acceptance of blockchain technologies.
5. Arweave (AR)
AR has been struggling near its critical support zone of $20 in recent months. Since March, it has repeatedly tried to break through the $48-50 supply zone, but sellers have held firm. Similarly, sellers have also tried to push past the $20 demand zone. These fluctuations have kept the token in a narrow range for several months.
Despite these challenges, AR is now above important moving averages, indicating buyers are gaining momentum to maintain the 20-day EMA level. In the past 24 hours, AR’s price surged by 13.66%, reaching $24.63. Over the past week, it increased by 9.23%, showing a bullish trend.
#Arweave is now showing its colors.
It's not only media storage, or any other kind of storage – it's permanent the hard drive for @aoTheComputer, a decentralized super computer.
More info below.
— Only Arweave (@onlyarweave) July 12, 2024
Amid overall market bearishness, AR has moved upwards in a narrow range, suggesting increased investor interest. A significant move could follow if AR breaks out of the $20-50 zone in either direction.
Historically, AR has found support around the $20 mark and rebounded. Investors anticipated this and started accumulating the token. The AR/BTC pair is at 0.00000421 BTC, and the market cap stands at $1.44 billion. Analysts remain neutral but suggest that AR may continue to recover.
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