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The overall crypto market trends signal the memecoin season’s return. Many of the assets in the category might become the next cryptocurrencies to explode. While the bull runs in current at full speed, memecoins like PEPE, DOGE, FLOKI, etc., are printing dramatic gains. Surprisingly, many of these assets have posted over 100% price increases in the last seven days.
Despite growing interest in memecoins and DePIN tokens, the driver of the current bull run remains Bitcoin. It’s clear that Bitcoin sets the pace of the market, and owning a significant amount of BTC could offset whatever downside incurred on mistimed investment.
Next Cryptocurrency To Explode
Thus, the team behind the Bitcoin Minetrix has hatched a strategy that will likely revolutionize Bitcoin Mining forever. The project leverages cloud computing as a means of democratizing mining activities. The updates below include the details of these projects and the performance of its ongoing presale.
1. Uniswap (UNI)
Is Uniswap worth its price right now? Uniswap gained attention in the crypto market recently after experiencing a price surge of over 70%. The price increase resulted from the announcement on its official Twitter handle lately.
Since the announcement, UNI has continued on an uptrend, pushing its price to $12. Currently, there are speculations that UNI is one of the next cryptocurrencies to explode. Today, it recorded an increase of over 5% in price, and its trading volume increased by 28%.
What’s more interesting is that the token trades close to a resistance at $13. A break above the price means that UNI might head for the $15 – $16 range. Given its current momentum, investors can expect to see UNI attain the price before the end of the quarter.
Despite the promising trends of UNI, there is a need to approach the token with grave caution. UNI is trading at the crest of its RSI, 81 at the time of writing. It means that the token is overvalued and might record a pullback.
Introducing the Uniswap Extension 🦄
The first wallet to live in your browser’s sidebar.
No more pop-ups. No more transaction windows.
Waitlist opens today 👇 pic.twitter.com/yNNgiju5zj
— Uniswap Labs 🦄 (@Uniswap) February 27, 2024
Besides its chart trends, another factor that might trigger a protracted rally of the UNI token is the upcoming Uniswap Extension, which the team hopes would become the first wallet to live in the browser’s sidebar. The wallet release will likely trigger a fresh round of rallies for the Uniswap token. Investors should research the token to see how it fits into their strategies.
However, the bullish signal remains relatively strong, with its price trailing below its moving averages daily and weekly.
2. FLOKI (FLOKI)
FLOKI is trailing PEPE’s performance with over 70% price increase in the last 24 hours. It kicked into a massive rally today, pushing its market cap deeper into the 1 billion dollar range. In addition, it recorded a dramatic surge in trading volume, printing an 800% increase at the time of writing.
The token’s exceptional performance has moved it to the top position on LunarCrush, outperforming many other cryptos by a wide margin. Social transactions have recorded a remarkable surge, with over 159% increase reported in the last month. The trend might continue unabated as the memecoin season takes off.
Moreover, investors should watch the FLOKI trend this quarter, as a recent event might cause it to become the next 1000x crypto. A post on its official Twitter handle described that the Floki DAO has voted on a token burn that might remove over $24 million worth of tokens from circulation.
$FLOKI has moved up to the top trending asset on LunarCrush, powered by memeseason. Social interactions are up +159.2% over the last month and have accelerated to new highs.
👇View all social metrics.https://t.co/yjcN8saqP0 @RealFlokiInu pic.twitter.com/mikgCKZl2E
— LunarCrush (@LunarCrush) March 2, 2024
They’ve reported that over 190,918,585,431.84 $FLOKI tokens will be burnt. With that, investors can expect a consistent spike in the token’s price in the coming days.
Another eventful update is that FLOKI TVL recently surpassed $400 million, which signifies a significant milestone for the community. Ultimately, FLOKI would maintain its place as a token to watch in this bull market as it continues its uptrend.
3. Bitcoin Minetrix (BTCMTX)
Bitcoin halving is only a few days away, and the coin’s value will likely reach over $90k in this bull run. Hence, investors who take a position now will likely earn significant ROI when BTC attains a new ATH.
Bitcoin Minetrix allows crypto investors to own BTC by joining its cloud-based bitcoin mining initiative. With the project, the team hopes to democratize the mining process, allowing everyday investors to mine Bitcoin without investing huge funds into infrastructures.
Currently, the project’s native token, BTCMTX, is on presale and offered at a discounted price of $0.0138. With the growing concerns about the energy consumption of the current Bitcoin mining process. More democratized systems like Bitcoin Minetrix would have a competitive edge. Meaning that the value of the underlying token increases what is growing demand.
🚨 US judge halts government effort to monitor #Crypto mining energy use amid concerns over environmental impact.
How can the #Cryptocurrency industry work towards minimizing its environmental footprint while continuing to innovate?#BitcoinMinetrix also proudly reveals another… pic.twitter.com/rMmyPaQnPw
— Bitcoinminetrix (@bitcoinminetrix) March 1, 2024
At press time, BTCMTX presale has reached over $11.6 million and will soon reach its next milestone. Investors who join the project now have the chance of gaining significant ROI upon listing. Its presale page offers more detailed guides on how to participate.
Visit the Bitcoin Minetrix Presale
4. Axelar (AXL)
AXL has recorded over 118% increase in price in the last 30 days, peaking at about $2.57 before a sudden drop to its current price. Investors should keep an eye on the token as the increasing price action on its chart indicates that the token is primed for a dramatic uptrend.
The sudden price rise comes from Binance announcing support for AXL spot trading. The pairs reported include AXL/BTC, AXL/USDT, AXL/FDUSD, and AXL/TRY. The announcement was made yesterday, Friday, March 1, and the withdrawal is scheduled for today, Saturday, March 2, at 11:30 (UTC). The news caused a spike in the price of Axelar and positioned it as one of the next cryptos to explode.
Furthermore, data from AXL technical analysis shows that the current pullback might be short-lived as its moving averages remain solidly below its current price. Moreover, the AXL MACD reading remains bullish at 0.1872.
The increasing adoption of blockchain technology is changing the world as we know it. The arrival of institutional investors in the crypto market has caused a dramatic disruption. The need for interoperability is now on the rise, and assets offering such services are recording massive increases in price.
🦾 🌊 Transact across @Filecoin in axlUSDC + axlETH easily, via @Uniswap and @SushiSwap 🌊 🦾 pic.twitter.com/7SQE5XYP0A
— Axelar Network (@axelarnetwork) March 1, 2024
However, investors should watch out for Axelar token reales, which is coming up in about 24 days. The event will release 25.81 AXL tokens into the market. The release constitutes over 2.27% of the total supply of the token. Also, it is valued at $50.54 million, about 4.43% of the market cap. The release might result in a downward pressure on the value of AXL.
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