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With investors expecting an upward trend, picking the “next cryptocurrency to explode” offers a chance to make significant returns. Considering this, several market dynamics and factors must be considered before making the best picks. On that note, this article compiled such information, aiding investors in defining the next explosive entrant in the market.
Next Cryptocurrency To Explode
Klaytn is eyeing a merger with a Japanese blockchain company. This development has triggered increased demand for KLAY. Meanwhile, Mantle has experienced a positive trajectory due to a recent announcement to support LayerBank. Furthermore, Dogecoin’s price seems correlated with announcing future financial technology innovations, placing the token as the next cryptocurrency to explode.
1. Klaytn (KLAY)
Klaytn is eyeing a substantial merger with Finschia, a prominent public blockchain player in Japan. The Klaytn Foundation and Finschia Foundation have collaboratively submitted a governance proposal aiming to launch a new mainnet.
This strategic integration involves sharing technologies, services, and business networks between the foundations. Furthermore, the primary objective of this merger is to leverage Klaytn’s DeFi and gaming services alongside Finschia’s foothold in the NFT. Users stand to benefit from enhanced interoperability between the two chains, fostering a more extensive presence across key Asian markets.
Importantly, the proposed chain will be compatible with Ethereum (EVM) and Cosmos (CosmWasm). This development has triggered increased demand for KLAY, leading to an intraday increase of 2.74%. However, notwithstanding the current bearish sentiment in Klaytn’s price prediction, the Fear & Greed Index indicates a positive market sentiment.
We weren’t joking when we said 2024 is going to be wild – we’ve just submitted a governance proposal to merge the #Klaytn and @finschia blockchains to create Asia’s largest Web3 ecosystem! Details below 🧵https://t.co/rNsqxxjBsj pic.twitter.com/mvJHPGdYof
— Klaytn (@klaytn_official) January 16, 2024
KLAY exhibits high liquidity based on its market capitalization and actively trades on Binance. It’s worth noting that Klatyn’s yearly supply inflation rate is 15.31%, resulting in the creation of 462.51 million KLAY last year. Klaytn’s proposed merger with Finschia underscores its strategic vision to combine strengths and capitalize on synergies. This token has the potential to perform well.
2. Manta Network (MANTA)
Manta Network has demonstrated a 10.09% increase in price, currently boasting a market cap of 636.33 million dollars. This positive trajectory is attributed to a recent pivotal announcement made on X. The platform has taken a strategic step by making its inaugural investment to support LayerBank, focusing on fostering community presence in Korea.
This collaboration is anticipated to unlock avenues for strategic growth and provide access to expert resources. It also aims to offer advisory support for expansion initiatives. However, investors need to note that Manta Network has been outperformed by 64% of the top 100 crypto assets over the past year. Furthermore, Manta Network has secured a Top 3 status in Ethereum L2.
As part of our commitment to supporting and growing the local community presence in 🇰🇷 Korea, we are excited to announce our first investment to support @LayerBankFi, the largest DeFi project on @MantaNetwork by TVL. https://t.co/fnzgQWWpQe
— Manta Network (🔱,🔱) #MantaRenewParadigm (@MantaNetwork) January 19, 2024
Since the main net launch 100 days ago, the platform has processed over 8M on-chain transactions and 529,000 wallet addresses. Currently positioned at #26 in the Layer 2 sector, MANTA exhibits a clear use case, positioning it as a contender for sustained success in the cryptocurrency market.
3. Meme Kombat (MK)
Meme Kombat has gained significant traction as its $MK token enters the next phase. Meme Kombat is a platform for predictive betting and has generated $7,279,617.26 out of its $8,000,000.00 goal. Each token is currently valued at $0.279.
The live betting system is a notable feature, allowing users to bet and earn Annual Percentage Yield (APY) simultaneously. The innovative staking mechanism employs both on-chain and off-chain transactions to minimize user fees. Users can opt for staking or deploying tokens for battles within the integrated gaming system.
Investors are drawn to Meme Kombat due to its unique gaming features and the potential for passive income through staking. The project is under increased scrutiny, with $83,000 injected into the $MK token.
A few big buys came into the presale over the last day💥
Let's keep pushing to $8 million🚀 pic.twitter.com/4N6I2M6VCw
— Meme Kombat (@Meme_Kombat) January 21, 2024
Furthermore, the project has raised over $5 million in its Initial Coin Offering (ICO), reaching the 50% milestone. In addition, Meme Kombat offers a competitive APY of 184% for prompt stakers.
Moreover, 76% of the total coin supply has been sold and staked. As a result, Meme Kombat is positioned to experience reduced selling pressure on exchanges compared to newly listed tokens. The token supply is capped at 120,000,000, with 50% allocated for the ICO. The remainder is distributed for staking, battle rewards, community incentives, and decentralized exchange liquidity, aiming to establish a sustainable ecosystem for Meme Kombat.
4. Dogecoin (DOGE)
Dogecoin recently experienced gains, reaching an 8.14% increase in 24 hours. This surge has moved Dogecoin into a bullish trajectory, positioning it as a frontrunner in the emerging meme coin trend. The uptick in Dogecoin’s price seems to be correlated with an announcement from X, hinting at future financial technology innovations.
Furthermore, these innovations focus on developing user-friendly and secure payment solutions to enhance transaction efficiency and streamline processes. Dogecoin’s price experienced a rise to $0.090 before stabilizing at $0.08580. As a result, the overall market volume for this meme coin has grown by nearly 8%, reaching around $12 billion.
Moreover, It also contributed to a substantial 245% surge in Dogecoin’s trading volume, surpassing $1.1 billion. In addition, sentiment towards Dogecoin’s price prediction is bullish, with the Fear & Greed Index indicating a level of 56 (Greed). Furthermore, Dogecoin ranks 2nd in the Proof-of-Work Coins sector and 1st in the Meme Coins sector.
However, investors should exercise caution, considering that the token has outperformed 73% of the top 100 crypto assets. Additionally, it has only seen 13 green days in the last 30 days, highlighting inconsistency in the market. Nevertheless, with recent developments, Dogecoin has the potential to emerge as the next crypto with the possibility for significant growth.
In other Crypto news, Bitcoin has gained attention following the approval of new spot Bitcoin ETFs. This development has further elevated Bitcoin’s popularity in the market. However, MicroStrategy has secured its position as the leading publicly traded company with a substantial Bitcoin holding of 189,150 coins.
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