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Although cryptocurrency prices have been falling for a while, the overall feeling in the market remains positive. Recently, Bitcoin (BTC) has risen to $60,000, and Ethereum (ETH) is striving to stabilize above $2,400, providing some relief to investors.
However, identifying the next cryptocurrencies to explode is challenging as most funds are attracted to pumping assets. Today’s article explores the performance of cryptocurrencies that have dominated the gainers list in the last 24 hours. The objective is to identify coins with some potential and inform investors and traders about each token.
Next Cryptocurrency To Explode
Today’s article discusses the performance of potentially explosive cryptos that investors should add to their watchlist. It also includes a special mention of Memebet Token. This new Telegram-based betting platform allows users to bet using meme coins for the first time, generating excitement among crypto enthusiasts. The details of its presale and the performance of the top-performing cryptos today are shared below.
1. Conflux (CFX)
Conflux Network (CFX) is a fast layer one blockchain that uses proof-of-work and proof-of-stake. Based in China, it follows local regulations and has earned the nickname “Chinese Ethereum.”
Currently, Conflux is showing a positive market trend. It is trading at $0.1358 after a 1.14% rise in the last 24 hours. Over the past month, the coin has seen 16 days of price growth, reflecting strong market confidence. Its liquidity, in relation to its market cap, shows steady interest from investors.
Moreover, experts predict a significant rise in Conflux’s price. A long-term forecast suggests a 227.70% increase by October 2024, potentially reaching $0.419568. In the short term, predictions for next week indicate the price will range between $0.128034 and $0.17533.
Recently, Conflux announced a partnership with Alibaba Cloud, a major Chinese tech company. This partnership aims to bring advanced Web3 solutions to businesses in Hong Kong, promoting the next wave of blockchain technology in the region. Conflux also teamed up with Cloucidian to support further innovation in Hong Kong’s tech space.
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— Conflux Network Official (@Conflux_Network) September 11, 2024
Experts forecast a possible 36.94% increase by mid-September if Conflux meets its upper target. With these partnerships and its growth potential, Conflux could strengthen its position in the blockchain industry, especially in Hong Kong’s evolving tech landscape.
2. Baby Doge Coin (BABYDOGE)
Despite the recent bearish market, Baby Doge Coin (BABYDOGE) saw a strong rally, jumping by 14.17% in the past day and over 80% in the last 48 hours. BABYDOGE is riding the wave of hype around meme tokens and decentralized finance (DeFi).
Launched on the BNB Chain, Baby Doge Coin started as a fun project to promote animal adoption. Over time, it has grown into a full ecosystem that includes a decentralized exchange (BabyDogeSwap), AI-powered meme generation, and NFTs. Its community-driven focus has led to donations of over $1.5 million to animal shelters, and it holds the world record for the most pet food donated in 24 hours.
According to CoinMarketCap, Baby Doge Coin is currently valued at $0.081909 and has a market cap of $290 million. Its trading volume surged by 178.43%, reaching $204.64 million, making it the 27th highest in trading volume. With a volume-to-market cap ratio of 0.8856, BABYDOGE shows strong liquidity, making it a popular choice among traders.
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Over the last month, BABYDOGE has risen by 84.61%; in the past year, it is up by 82.23%. Since the beginning of the year, the token has quadrupled in value. The project also offers a platform for users to launch tokens instantly and has an upcoming YOLO feature, generating fresh excitement. This could help BABYDOGE sustain its upward momentum in the short term.
3. Membet Token (MEMEBET)
Memebet Casino ($MEMEBET) is gaining attention with its unique Telegram-based betting platform, raising over $225,000 in its early stages. This platform’s use of meme coins for betting sets this platform apart, which has sparked excitement among crypto fans. It offers high-stakes options, a global sportsbook featuring leagues like the EPL and NBA, and various crypto-based games. This focus on crypto enthusiasts, or “degens,” has boosted its popularity. A recent $50,000 whale purchase has increased confidence since its launch on Tuesday.
The $MEMEBET token started its ICO at $0.025, with early investors able to claim their tokens immediately. As the project moves into its second round of funding, the price will rise slightly to $0.0251 in the next 24 hours. This offers early investors a chance to buy at a lower price before demand grows with the full casino launch. The $MEMEBET token plays a key role in the casino’s ecosystem, offering players a distinct gaming experience.
While meme coins like Dogecoin ($DOGE), Pepe ($PEPE), Shiba Inu ($SHIB), and Floki ($FLOKI) are accepted for wagers, $MEMEBET stays the central token, enhancing the overall experience. Investors interested in the token presale should act quickly. Besides its investment potential, contributors can win a share of 400 million $MEMEBET tokens reserved for airdrops.
4. UNUS SED LEO (LEO)
UNUS SED LEO is a utility token created for the iFinex ecosystem, primarily used on the Bitfinex exchange. It operates on two blockchains, with 64% of its supply on Ethereum and 36% on EOS. This dual-chain structure provides flexibility and security, making it appealing to different users.
LEO holders benefit from reduced trading fees on Bitfinex, with the discount based on the amount of LEO they hold. Besides lower trading fees, users also enjoy reduced funding fees and rewards through the Bitfinex referral program.
One standout feature of LEO is its buyback and burn system. iFinex, the parent company of Bitfinex, uses 27% of its revenue to repurchase LEO tokens. As one of the top exchange-issued tokens, LEO competes with similar tokens from Binance, OKEx, and Crypto.com.
Currently, LEO is trading at $5.74, with a 0.64% increase in the last 24 hours and a 3.95% rise over the past week. However, liquidity is low, with a volume-to-market-cap ratio of 0.0003. Its 14-day RSI is 41.04, showing a neutral trend that might lead to sideways movement.
LEO has had 15 green days in the past month, showing positive momentum. It is also trading 54.33% above its 200-day simple moving average of $3.85. Over the past year, LEO’s value has risen by 55.39%, outperforming 52% of the top 100 crypto assets.
5. Rollbit Coin (RLB)
Rollbit Coin has become the leading cryptocurrency in the GambleFi sector, boasting a market capitalization close to $250 million. However, some experts argue that Rollbit Coin (RLB) is still undervalued, even after its price increased by 61% last month. For example, Rollbit has the lowest Price-to-Sales (P/S) ratio at 0.65, according to data from GL Capital.
In comparison, Aave has a P/S ratio of 6.67, and Pendle’s stands at an impressive 26.94. This shows that Rollbit Coin’s market cap is significantly lower than that of its competitors, even though it generates high revenue.
Moreover, Rollbit Casino’s revenue is expected to rise with the NFL season just starting and the NBA season approaching. Additionally, the EPL and MLB seasons are already in full swing. Rollbit is also partnered with Southampton F.C., a popular Premier League team. Furthermore, Rollbit has a strong deflationary system, burning 10% of casino revenue, 30% of Futures revenue, and 20% of sports betting revenue. This deflationary feature further strengthens the argument that RLB is currently undervalued.
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In addition, Rollbit Coin is not yet listed on a major centralized exchange (CEX), but experts believe this will change soon. As a result, many are predicting a bullish outlook for RLB in the coming weeks. GL Capital estimates that Rollbit Coin’s market capitalization could grow to $2.1 billion during the next bull run, positioning it as one of the best cryptocurrencies to invest in right now.
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