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Cryptocurrency prices have been fluctuating for a while, and the overall feeling in the market is bearish. Bitcoin (BTC) has surged past $60K, while Ethereum (ETH) is still striving to stabilize at $2,500.
However, identifying the next cryptocurrencies to explode might take some work 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 Pepe Unchained, a new Pepe-themed meme coin launched on its Ethereum Layer 2 blockchain. Within minutes, it attracted over $150,000 in investments. The details of its presale and the performance of the top-performing cryptos today are shared below.
1. Near Protocol (NEAR)
NEAR Protocol (NEAR) is designed to offer a user-friendly and developer-friendly platform for building decentralized applications. Currently priced at $4.45, NEAR has seen a rise of 11.96% in the past 24 hours and boasts a market cap of $5.03 billion, ranking it #19 by market capitalization.
With a strong focus on scalability and ease of use, NEAR is gaining popularity among developers who seek alternatives to more congested networks. As the demand for decentralized applications grows, NEAR could experience steady growth, setting it apart from high-growth tokens that often see rapid, short-term spikes.
NEAR Protocol’s unique sharding technology and low transaction fees solve some of the biggest challenges in blockchain today. This innovative approach makes NEAR a strong contender for growth as more sectors adopt the technology.
Compared to Ethereum, NEAR is a faster, more scalable option with lower transaction fees. Sharding plays a key role in this. It can be compared to a busy supermarket with only one cashier open, causing long lines. Adding more cashiers removes the line, like sharding reduces network congestion, making NEAR a more efficient alternative.
2. Popcat (SOL) (POPCAT)
Popcat (SOL) (POPCAT) is a playful cryptocurrency inspired by the popular Popcat meme. It embraces a community-driven approach. It is built on the Solana (SOL) blockchain, which gained momentum in 2024 thanks to its meme coin generator and the Pump.fun marketplace, Popcat benefits from fast, low-cost transactions. This makes it attractive to the crypto community, especially with the growing trend in meme coins.
Currently, Popcat (SOL) is priced at $0.9045. If the current trend continues, it could reach $1.3 and $2.83 resistance levels. However, if the trend reverses, the price may drop to support levels of $0.67 and $0.47. With a positive market sentiment, 2024 could be a favorable year for Popcat (SOL), with a bullish price prediction of $1.96.
Sign up on https://t.co/blBZVCxs9a and trade at least $1000 worth of $POPCAT on Futures to win up to 100 USDT.
First 100 qualified also receive an additional 50 USDT airdrop!
Period: Sept 3rd 12PM UTC – Sept 15th 12PM UTC
(Prizes will be distributed latest by Sept 25th) pic.twitter.com/fbbaSnjZII
— $POPCAT (@POPCATSOLANA) September 3, 2024
As Bitcoin crossed $60K, Popcat (SOL) also gained momentum, securing a position among the top 100 tokens by market capitalization. Currently valued at $886 million, the token saw a slight dip from its all-time high of nearly $1 billion. Over the past month, its price fluctuated between $0.49 and $0.75, showing volatility. Despite this, the token has surged 40x since its launch in February.
Popcat (SOL) could reach $2 if market sentiment and momentum remain strong. With future upgrades to the project, it might surpass its all-time high of $0.9976. However, if market sentiment turns negative, the bearish prediction for 2024 is $0.22.
3. Pepe Unchained (PEPU)
Pepe Unchained ($PEPU) is making waves, raising over $13.8 million in fundraising efforts. The recent influx of capital has brought the project close to its $14 million goal. As Pepe Unchained celebrates its three-month anniversary, it is poised for success, potentially following in the footsteps of $NEIRO after its ICO. If $PEPU gets listed on Binance’s spot market, its current price of $0.0098 could be a bargain for investors looking for a big return.
Meme coins have made a major impact in 2024, reaching a market cap of over $60 billion at one point. While often lacking utility, new tokens like Pepe Unchained, with its blockchain, are leading the next wave of meme coins. Being a Pepe-themed token, $PEPU carries a unique appeal. Contessoto, the SlumDOGE Millionaire on X, believes that $PEPU can take advantage of the Pepe narrative into 2025.
We're making rapid progress on the $PEPU token raise and Layer 2 Mainnet launch!
The Pepe Unchained developers have built something special, and we can’t wait to roll it out to the public. pic.twitter.com/NMDQ1ZRnmN
— Pepe Unchained (@pepe_unchained) September 18, 2024
The presale success of Pepe Unchained is largely due to its rapidly growing community. Since launching its ICO in June, it has gained around 15,400 daily followers on X, edging closer to the 45,000 followers of its predecessor, Pepe ($PEPE).
Pepe Unchained also offers its own Layer 2 solution on Ethereum, which reduces gas fees and provides transaction speeds up to 100 times faster. This feature opens the door for new tokens infused with Pepe’s signature meme charm. However, for those interested in investing, the price of $PEPU is set to increase to $0.00981 in less than two days as the next funding round begins.
Visit the Pepe Unchained Presale
4. Taiko (TAIKO)
Taiko is a decentralized Layer 2 solution built on roll-up technology designed to improve Ethereum’s scalability and lower transaction fees. It focuses on optimizing transaction processes, making it a key player in advancing DeFi. Taiko has made great strides in decentralization and economic efficiency, strengthening its market position.
On September 5, Taiko unlocked 12 million TAIKO tokens, representing 19% of its circulating supply. These tokens will be distributed to participants in the Trailblazer program, which could affect market dynamics. The token unlock is one of the largest in value and supply inflation, with Taiko aiming to achieve transaction speeds similar to Base while maintaining its high-profile presence.
Despite being around for only 90 days, Taiko has built a strong on-chain and social media presence. The platform is also a significant user of blobs on Ethereum, paying high fees for additional block space. The recent token unlock added tokens from the Trailblazer airdrop, incentivizing community participation in June and July. This airdrop increased the TAIKO token supply by 15.8%, rewarding wallets that engaged with the protocol through daily tasks like bridging.
🎉 Exciting news, Taikonauts! Season 2 of Trailblazers is here!
Running from Sept 17 to Dec 16, 2024, with 6 million Taiko tokens up for grabs. Here's what's new…
— Taiko 🥁 (@taikoxyz) September 17, 2024
Taiko may face price pressure, as only about 7.63% of its total supply is currently in circulation. Since the peak of the airdrop campaign in June, TAIKO’s price has dropped by around 50%, now trading at $1.49. However, the token has seen a 17.57% increase in the past 24 hours, alongside a 221.68% rise in daily trading volume.
5. Saga (SAGA)
Saga (SAGA) has seen a significant price surge of 24.10%, now trading at $2.44. Its market capitalization has also climbed to $249 million, marking a strong 24% rise in just 24 hours. The key driver behind Saga’s success is its innovative Liquidity Integration Layer (LIL), which addresses liquidity fragmentation in the blockchain space. Liquidity has become scattered with the rise of multiple chains, Layer 2 solutions, and rollups, leading to complexity and a poor user experience. Saga aims to simplify this by tackling these issues head-on.
Saga’s Layer 1 protocol offers infinite horizontal scalability through “chainlets.” While developers can easily request chainlets, this scalability often causes liquidity to become fragmented. However, LIL solves this problem by providing automatic composability. This allows seamless connections between chainlets, giving instant access to tokens, services, and applications within the Saga ecosystem and beyond.
Saga’s Economic Model: We’re introducing a highly profitable system that works in web2 and applying it to web3. This is the future of crypto revenue, ready for the masses.
— Saga ⛋ (@Sagaxyz__) September 18, 2024
Saga’s recent price increase follows a recovery from its August lows, forming a double-bottom pattern. This suggests a potential bullish reversal if the price moves beyond the pattern’s neckline. Using Fibonacci retracement from the recent high of $2.55 to the low of $1.94, the critical reversal zone is identified around the $2.2 mark. If the bulls push the price past the $2.4 level, it could signal the end of the correction phase and the start of a new bullish trend.
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