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Investors are constantly looking for the next cryptocurrency to explode. The crypto market’s dynamic nature presents an environment where certain digital assets have the potential to experience explosive growth. This growth captures the attention of traders and investors. This article will explore tokens with the potential for large returns. In addition, it will investigate the factors driving the rise of these specific cryptocurrencies poised for significant breakthroughs.
Next Cryptocurrency To Explode
Multiple spot Bitcoin exchange-traded funds (ETFs) have been listed, with Grayscale making headlines by converting its $27 billion Bitcoin trust into an ETF. Alongside Grayscale, other notable entries into the market include BlackRock’s iShares Bitcoin Trust.
The commencement of pre-market trading for these ETFs has witnessed substantial gains, suggesting a positive sentiment surrounding these newly regulated investment vehicles. This development is anticipated to draw in considerable investment, signaling the initiation of a new bullish trend for Bitcoin.
1. Telos (TLOS)
Telos has exhibited an upward trend over the last 7 days, reflecting more than 33.60% gain. This positive momentum is accompanied by an increase in trading volume by $3.17 million, adding pressure to its current price and suggesting a potential for further growth.
Telos’s recent performance reveals a commendable 122% price increase over the past year, positioning it above 67% of the top 100 tokens in the market. The current circulating supply is 270.12 million TLOS out of a maximum supply of 420.00 million TLOS.
In the last 30 days, Telos has experienced 16 positive trading days, constituting 53% of the observed period. In addition, the project boasts high liquidity, as reflected in its market capitalization. The Telos price prediction sentiment leans towards bullish, aligning with an Extreme Greed reading of 76 on the Fear & Greed Index.
Furthermore, Telos is trading above its 200-day simple moving average, indicating a favorable market position. However, despite the positive indicators, investors must note that Telos is currently down -83% from its all-time high.
Collectively, these indicators suggest a positive market outlook for Telos. Investors should add Telos to their watchlist as the next crypto to explode.
2. DAO Maker (DAO)
DAO token has experienced an intraday rally of 1.88% increase in price, accompanied by a 39.84% decrease in trading volume. Despite this recent fluctuation, the token has displayed a consistent positive trend over the last 30 days.
Furthermore, the token has witnessed 15 green days within the last month, giving it 50% of the time in a bullish trend. This suggests a certain degree of market stability. Moreover, the project exhibits high liquidity, substantiated by its market cap.
In the context of a broader timeline, the token has demonstrated a substantial 48% price increase over the past year. While this performance reflects a commendable growth trajectory, it is important to note that the token is currently trading at an 86% decrease from its all-time high.
The token’s 14-day Relative Strength Index (RSI) sits at 51.76, suggesting a neutral stance and a potential sideways trading pattern. Concurrently, the Fear & Greed Index is 76, indicating an extreme greed sentiment within the market. DAO has outperformed 61% of the top 100 crypto assets relative to other cryptocurrencies over the past year.
3. Shiba Inu (SHIB)
Shiba Inu’s price has increased by 6.84%, coinciding with recent developments announced by the project’s lead developer of Shiba Inu on X. The developer has unveiled plans to introduce a specialized Top-Level Domain (TLD) for the Shiba Inu (SHIB) ecosystem. Collaborating with internet domain player D3, the project aims to facilitate using domain names featuring the .shib extension.
This initiative intends to enable Shiba Inu token users to utilize a .shib domain across various online platforms, including websites, blogs, stores, etc. The potential impact on the circulating supply of INJ is also highlighted as a hoped-for outcome.
Is this enough to make Shiba Inu the next cryptocurrency to explode? The current sentiment in Shiba Inu price predictions is described as neutral. However, SHIB’s Fear & Greed Index, standing at 76 (Extreme Greed), reflects a cautious optimism in the market.
🔥 Is it getting hot in here? Oh wait, it's just us burning some $Shib In just about a month, we've incinerated nearly 200 ETH worth.
TX details in the first comment below. pic.twitter.com/YVEzb7SEPJ
— Shib (@Shibtoken) January 9, 2024
Several metrics present a comprehensive overview of Shiba Inu’s performance. The token is noted for trading above the 200-day simple moving average, boasting 17 green days out of the last 30 (57%). Its high liquidity, as determined by market capitalization, is emphasized.
Comparative performance metrics indicate that Shiba Inu has been outperformed by 73% of the top 100 crypto assets over the past year. Shiba Inu holds the fifth position in the Ethereum (ERC20) Tokens sector and is ranked second in the Meme Coins sector.
4. Meme Kombat (MK)
Functioning as a platform for predictive betting on outcomes involving various meme coins, Meme Kombat has seen a surge in popularity. The $MK token, currently in its next stage, has generated $6,636,219.27 out of the total $8,000,000.00 sold at $0.279 per token.
Meme Kombat has recently gained attention due to its distinctive gaming features. Moreover, a significant investment of $83,000 from major investors has added attention to the project.
The introduction of the live betting system is a feature that enables stakers to bet and earn the Annual Percentage Yield (APY). The staking mechanism is designed innovatively, utilizing both on-chain and off-chain transactions to minimize user fees. Users can choose between staking and deploying tokens for battles within the integrated gaming system.
MK bears similarities to $PEPE as it operates on the Ethereum blockchain. Having successfully raised over $5 million in its Initial Coin Offering (ICO) and reaching the 50% milestone, it offers interested investors the opportunity to stake $MK and earn a competitive APY of 184%.
$6.6 million has been passed💫$MK is moving quickly and we are working hard to create a captivating gaming experience👾 pic.twitter.com/JQh2OBWoRU
— Meme Kombat (@Meme_Kombat) January 11, 2024
With 76% of the total coin supply already sold and staked, Meme Kombat anticipates 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. This allocation strategy aims to foster a sustainable ecosystem for Meme Kombat.
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