Next Cryptocurrency to Explode Sunday 8 October - Monero, IOTA, Meme Kombat

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To commemorate its 20th anniversary, Starbucks has introduced a non-fungible token (NFT) version of its beloved pumpkin spice latte. This NFT collection has four varieties representing different drink orders. It is priced at $20 and is available as an open edition from October 5 to October 9.

Starbucks Odyssey, the company’s Web3 platform, aims to entice collectors by offering an incentive to acquire all four NFT stamps. The company has previously ventured into the NFT market with impressive success.

However, recent data highlights that most NFT collections possess no market value, emphasizing the speculative nature of this market. With the official artwork reveal scheduled for October 10, Starbucks’ latest NFT venture seeks to leverage the digital asset trend.

Next Cryptocurrency to Explode

The global cryptocurrency market still bears the scars of a bearish year characterized by the dramatic collapse of prominent players, including FTX. This collapse has impacted cryptocurrency prices and venture capital investment, which have yet to regain their peak levels from 2021.

One significant event contributing to this decline was the meltdown of the FTX exchange. Hence triggering a sharp drop in Bitcoin’s value, returning it to levels last seen in 2020. Although Bitcoin and other tokens have recovered considerably, the overall state of the sector is yet to reach its 2021 levels. However, healthy trading activities suggest room for the next cryptocurrency to explode.

1. Monero (XMR)

In recent trading sessions, Monero’s price has been bullish, surpassing critical moving averages such as the 20-day, 50-day, and 100-day Exponential Moving Averages (EMAs). These movements suggest a growing positive sentiment among traders, presuming it to be the next cryptocurrency to explode. Based on this positive sentiment, Monero could trigger a substantial rally if it successfully breaches the pivotal 200-day EMA.

Over the past few weeks, Monero has repeatedly tested the support zone around the $138 mark. Each time it has touched this level, it has found support and experienced a rebound. This resilience implies investors are regaining their confidence and targeting the $160 price level for forthcoming trading sessions.

Monero’s price currently stands at $154.12, reflecting a minor intraday gain of 1.17%. From a technical analysis standpoint, Monero’s indicators corroborate the bullish trend. Key indicators such as the Moving Average Convergence Divergence (MACD), Relative Strength Index (RSI), and EMAs all convey positive signals, implying the potential continuation of the uptrend. Moreover, the 1-day time frame price action reflects a bullish sentiment among investors and traders.

RINO would like to announce that we are making enterprise #monero non-custodial wallet service free to use. Check out exciting features like shared wallets, incoming tx email notifications, 2FA, and much, much more https://t.co/S5gzICrpoq

— RINO Wallet (@RINOwallet) October 4, 2023

Monero’s recent price movements suggest a possible shift toward a bullish trend. While it has encountered resistance at the $150 level, it has consistently found support near $140. The breach of the critical 200-day EMA implies a somewhat bearish outlook. However, technical indicators and price action signal a bullish perspective in the immediate future.

2. IOTA (IOTA)

IOTA recently introduced the highly anticipated Stardust Update, a significant development to enhance the network’s capabilities. This update had been in the works for a year, with extensive testing conducted on the Shimmer testnet to ensure robustness and security.

Notable features of the Stardust Update include native support for Non-Fungible Tokens (NFTs) on IOTA’s Layer 1 Tangle, allowing for feeless minting and transactions. Users are now required to place a storage deposit to hold NFTs in their wallets.

Moreover, the update allows NFTs to own other NFTs, digital identities, or tokens, adding utility to the platform. Custom tokens can also be easily created on the Layer 1 Tangle, similar to NFTs, requiring only a storage deposit.

Another significant enhancement in the update is State Commitment anchoring, which enables the integration of Layer 2 into Layer 1. This positions IOTA as a foundational layer in a multi-layer environment. In addition, the update introduces programmability to the Unspent Transaction Output (UTXO), including features like Expiration Unlock Conditions, enhancing transaction control.

[ICYMI] Before the IOTA 2.0 protocol update is introduced as a network, we want to give everyone a chance to explore the protocol in detail & understand the future of #IOTA.
Digital autonomy for everyone starts right here👇@CoinMarketCap https://t.co/nRASltaOii

— IOTA (@iota) October 7, 2023

The Stardust Update aims to elevate IOTA’s versatility, security, and overall user experience, representing a significant step toward innovation and decentralization. IOTA’s price dropped considerably, reaching a low of $0.15. However, it has shown signs of recovery. With a 2.25% over the past week, it is worth considering as the next cryptocurrency to explode.

3. Axie Infinity (AXS)

Axie Infinity is a blockchain-based game that revolves around the trading and battling of creatures known as Axies. The project takes inspiration from popular games such as Pokémon and Tamagotchi, allowing players to collect and trade these token-based creatures.

Axie Infinity merges cryptocurrencies with gaming, introducing blockchain technology in a captivating and interactive way through utilizing NFTs. Within this game, players can earn AXS or LVP tokens by engaging in battles with their digital pets, which resemble creatures like Digimon or Pokemon. Moreover, players can raise and breed these digital pets, known as Axies, and partake in battles within a gamified universe created by the platform.

In recent weeks, there has been a significant surge in buying volume for Axie Infinity’s token, resulting in price increases. However, buyers’ lack of sustained momentum raises suspicions that speculators may be active, casting doubt over the upward tick.

Xia is the newest starter axie to join the arena, but being an old war buddy of Olek and Paladin, he’s slain more than his fair share of chimera! ⚔️ pic.twitter.com/VUovME155p

— Axie Infinity (@AxieInfinity) October 8, 2023

As of the latest data, Axie Infinity is trading at $4.47, reflecting an intraday decline of -0.37%. Additionally, the 24-hour volume-to-market cap ratio stands at 2.82%. While there is a slight drop in its price, the recent surge in buying volume positions it as the next cryptocurrency to explode.

4. Meme Kombat (MK)

Meme Kombat, currently in its presale phase, has garnered noteworthy attention within gaming and cryptocurrency communities. As detailed in its whitepaper, the project presents itself as a gaming platform that combines memes and competitive battles. Thus harnessing Ethereum’s decentralized technology to offer a distinct gaming experience.

Time for some friendly competition 👊#MemeKombat doing a best meme contest & giveaway

🥇Top prize 600 USDT
🥈2nd place 300 USDT
🥉3rd place 100 USDT

Feel like joining in on the action? Check next post for details on how to participate 👇

— Meme Kombat (@Meme_Kombat) October 6, 2023

Within the Meme Kombat ecosystem, players engage in battles featuring characters represented by popular internet memes. These characters are brought to life using artificial intelligence, which relies on the project’s core currency, $MK.

Meme Kombat’s platform is designed with various features, including active betting and passive staking. Furthermore, it provides users with multiple avenues to earn rewards from their gaming interests. Combatants can stake and wager tokens on battle outcomes, introducing a play-to-earn dynamic and opportunities for yield farming.

During the presale phase, buyers can stake their tokens with an attractive APY of 112%. As a result, players can earn rewards before the release of battle features.

The project’s high APY and play-to-earn utility have garnered attention in the crypto news media and Web3. With coverage on platforms like Cointelegraph and CryptoPotato, the project has already raised approximately $60,000.

$MK boasts a capped maximum supply of 12,000,000 tokens, with allocations of 50% to the presale. In addition, 30% is allocated to staking and battle rewards, 10% to community rewards, and another 10% to locked DEX liquidity.

The Meme Kombat presale has set a soft cap target of $1 million and a hard cap of $10 million, placing it on our list of next cryptocurrencies to explode.

Visit Meme Kombat.