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Achieving good returns in a strong market involves monitoring the top cryptocurrencies and preparing Altcoins for growth. Yet, spotting the next prominent cryptocurrency can be challenging because many investors focus on already popular assets.
This article explores the performance of cryptocurrencies that have dominated the gainers list in the last 24 hours. The objective is to identify the next cryptocurrencies to explode and inform investors and traders about each token. Also included in the post is an overview of the market trend of crypto assets, which have the potential to post significant gains in the future.
Next Cryptocurrency To Explode
Today’s analysis details the performance of the cryptos that investors should add to their watchlist. It also includes a special mention of Sealana, a Solana meme coin that introduces features and widgets to accommodate different investor preferences. The details of its presale and the performance of the top-performing crypto today are shared below.
1. Chiliz (CHZ)
Chiliz’s price has jumped by 19% in the past 24 hours, reaching $0.1346 as of 7:18 p.m. EST. This surge is accompanied by a significant increase in trading volume, which has risen 747.30% to $408 million. After falling from $0.1668, the price is trending upward, establishing a solid support zone where buyers can regroup and recover losses.
A reversal at the $0.1043 level has sparked bullish sentiment, allowing buyers to initiate a steady rally. They aim to push the price towards the March 13 high of $0.1672. This recent spike is influenced by the announcement that Naver Pay, a widely used mobile payment service, is partnering with Chiliz to expand its global services with Web3 innovations.
The 50-day and 200-day simple moving averages (SMAs) are below the current price, indicating upward momentum. The Relative Strength Index (RSI) has been hovering around the 50 midline level but is now showing signs of rebounding, currently at 57. As momentum increases, the RSI might rise into the overbought zone, suggesting intense buying pressure.
At the same time, Chiliz price bulls seem prepared for a further upward move. With a robust support zone at $0.1043, the bulls could push the price to $0.1672 in the coming weeks.
2. OriginTrail (TRAC)
Three days ago, OriginTrail (TRAC) reached a significant milestone by surpassing the $1 mark, forming a rounding bottom pattern on its price chart. This pattern suggests increasing buying pressure for the DePIN token, highlighted by TRAC’s notable 18.50% gain over the past week.
Later the day, TRAC’s price dipped below $1, falling to 0.9024 within 24 hours. However, it has since rebounded by over 5%, and market sentiment remains optimistic. Currently, the OriginTrail price prediction sentiment is bullish, and the Fear & Greed Index stands at 75 (Greed).
OriginTrail creates a trusted knowledge infrastructure for AI, ensuring the accuracy of information and fighting misinformation. Its Decentralized Knowledge Graph allows for efficient search and AI-powered solutions. Moreover, the project’s dedication to open-source technical development fosters a collaborative environment.
The project collaborates with organizations such as the British Standards Institution and Walmart. The TRAC token, which drives the network, operates on Ethereum to secure the OriginTrail ecosystem. It is used for publishing and updating assets and as collateral on nodes.
📚@origin_trail and @gs1 data standards are crucial for ensuring information verifiability, enabling #AI to access reliable and trusted data for enhanced consumer interactions. Next week, @ema_lovsin will explore these topics at the @gs1 conference.
🔗https://t.co/eHIoqQe3M6 pic.twitter.com/JxHTv7cvhf
— OriginTrail (@origin_trail) May 24, 2024
TRAC’s performance metrics provide insights into its market behavior. Currently priced at $0.9767, it has grown significantly, increasing by 278% over the past year. It trades well above the 200-day SMA, 219.01% higher than $0.305785.
If the bulls break out of the current pattern, TRAC’s price could rise toward its upper resistance level of $1.310 soon. Conversely, if bearish sentiment dominates, the token might pull back, potentially dropping to the lower support level of $0.770.
3. Sealana (SEAL)
Sealana (SEAL) was introduced on the Solana Chain, using the popular seal meme. In the world of meme coins, success often depends on how well the meme is known and how large its community is. The seal meme, commonly seen on social media to symbolize laziness or inefficiency, has a large following. Due to its extensive use, Sealana is likely to do well.
Slothana, a meme coin based on the Solana blockchain with a sloth theme, has seen its value increase sevenfold and is now hitting new record highs. Early investors who bought in during the presale period have enjoyed significant profits. Experts believe Sealana might follow Slothana’s successful path.
Ready to $SEAL up like #Sealana? 🦭💥
Now, here's the way y'all do it!
Being Bullish on #Memecoins 💸#Hodling Strong 💪
Driving Lambos 🚗
Fast Food Diet 🍔🍟
Massive Gains 📈
Embracing the Second Amendment 🇺🇸
Sending $SOL 🚀🦭 pic.twitter.com/ozmKVFEggR— Sealana (@Sealana_Token) May 24, 2024
Sealana has performed well in its presale so far, raising over $2 million. This achievement indicates a promising future and will provide Sealana with a solid market capitalization before it becomes available on decentralized exchanges (DEXs).
The next goal for Sealana would be to secure a listing on centralized exchanges (CEXs). Historically, such listings have led to notable price increases, as demonstrated by Slothana’s price jump after its launch on HTX.
4. Kaspa (KAS)
Kaspa is a proof-of-work cryptocurrency that uses the GHOSTDAG protocol. Unlike traditional blockchains, GHOSTDAG allows multiple blocks created simultaneously to coexist and organizes them in consensus. This creates a blockDAG structure, enabling secure operations with high block rates and short confirmation times.
Kaspa aims to achieve up to 100 blocks per second. It also includes features such as DAG topology queries, block data pruning, and support for future layer two solutions.
🎉We are excited to announce the first stable #RustyKaspa (RK) node Release (version 0.14.1).
Read: https://t.co/G8cwHZ0deY
This is a significant milestone for the Kaspa network, as it marks the point where we shift to a new improved and optimized engine, which can now be built… pic.twitter.com/S5T1Nt53Qn— Kaspa (@KaspaCurrency) May 13, 2024
Leading crypto analysts are optimistic about Kaspa (KAS). Their positive outlook comes as market sentiment for cryptocurrencies improves. As mainstream adoption increases and regulatory clarity improves, many investors seek promising projects with strong fundamentals and innovative technologies.
Today, Kaspa (KAS) is priced at $0.142608, showing a 6.69% increase in the last 24 hours. This is significantly higher than its 200-day simple moving average (SMA) of $0.063593, marking a 124.07% rise. Kaspa has recently experienced a notable increase in value. Over the past year, its price has soared by more than 720%, with market capitalization growing from $410 million to $3.3 billion, as reported by CoinMarketCap.
In addition, a crypto analyst points out that Kaspa operates independently from the broader market, with unique adoption trends and regular 8-month cycles. These cycles are influenced by Kaspa’s rapid emissions, which reduce supply more quickly than Bitcoin’s 4-year cycles. With over 16 technical indicators showing positive signs, market experts are optimistic that Kaspa’s price could reach $0.16 by the second quarter of 2024.
5. Pepe (PEPE)
Pepe Coin’s price is rising again, reflecting a broader recovery in the meme coin market. It’s on a strong upward trend, with traders expecting further gains soon. At 8:10 am EST today, Pepe’s price reached a new all-time high of $0.00001616. Despite some selling pressure, the coin mainly stayed positive throughout the day.
This achievement has solidified Pepe Coin’s status in the global crypto community, attracting significant attention from traders and investors. A notable crypto trader recently deposited 491 billion PEPE tokens onto Binance, suggesting an intent to profit from the ongoing price surge. This action also indicates a belief that Pepe Coin is still undervalued despite its recent peak.
Over the past week, Pepe has gained more than 50%, and its value has increased by over 100% in the last month. This impressive performance has made Pepe Coin a popular choice among market participants, highlighting its strong bullish momentum since March and its consistent achievement of new highs.
However, data from Coinglass shows mixed investor sentiment towards PEPE. Open interest (OI) increased by 21.58%, indicating growing interest, but derivatives volume fell by 41.05%, suggesting cautious trading.
The Relative Strength Index (RSI) remains high at 74, indicating that PEPE Coin is overbought. This elevated RSI has led to discussions among traders about the potential for a price correction soon, as market sentiment hints at a possible PEPE value adjustment. Despite these indicators, PEPE Coin continues to draw attention for its strong performance and ongoing volatility.
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