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Many altcoins are trying to make a comeback as they record significant gains. Meanwhile, Bitcoin (BTC) has fallen below $60,000 and is still hoping to find support for its next big move. Investors need to stay alert during this consolidation phase as it could be a chance to catch a ride on a rising trend.
Prices of these various assets are climbing, even before the market takes off entirely. That is why today’s article is dedicated to identifying the next cryptocurrencies to explode and inform investors and traders about each token.
Next Cryptocurrency To Explode
Smart investors are moving to capitalize on the boom in the altcoin market and taking positions in upcoming tokens like the Shiba Shootout. The project features a unique Wild West design, combining this popular period from American history with the crypto frontier. This post covers the details of its presale.
1. SafePal (SFP)
SafePal has recently rolled out significant updates to enhance its platform, including integrating with MultiversX (EGLD). This allows users to securely manage and trade EGLD through SafePal’s browser extension, mobile app, and hardware wallets. Additionally, a new collaboration with Kryptos simplifies cryptocurrency tax calculations and portfolio management. It supports over 2,000 DeFi protocols and more than 100 exchanges and wallets. These updates highlight SafePal’s commitment to improving user experience and security while addressing the complexities of crypto tax reporting.
Launched in 2018, SafePal transforms how users protect and grow digital assets with innovative wallet solutions. The platform offers both hardware and software wallets, all managed through the SafePal App. Notably, SafePal was the first hardware wallet to receive investment from Binance, further establishing its credibility.
Stay up to date with the latest Crypto News provided by our partners @SoSoValueCrypto pic.twitter.com/EWof2us5Ry
— SafePal – Crypto Wallet (@iSafePal) August 12, 2024
SafePal supports various popular cryptocurrencies and tokens on Ethereum, Binance Smart Chain, and TRON blockchains. The platform’s native token, SFP, plays a central role in its ecosystem by offering discounts, incentivizing users, and enabling governance through proposals and votes on new features.
SFP is priced at $0.8019, reflecting a 3.80% increase in the last 24 hours. The token shows high liquidity, with a volume-to-market cap ratio of 0.0568. A 14-day RSI of 56.59 suggests a neutral market stance, possibly leading to sideways movement. Over the past month, SFP experienced 15 bullish days, with a 30-day volatility of just 2.60%. Additionally, trading 37.62% above its 200-day SMA of $0.583112, SafePal has appreciated 75% over the past year, outpacing 67% of the top 100 crypto assets.
2. Saga (SAGA)
Saga (SAGA) experienced a price surge of 20% today, reaching $1.61. SAGA’s total market capitalization is $160 million at the time of writing. This increase follows an announcement made by the Saga team on August 12 through X, where they introduced the Liquidity Integration Layer (LIL). This innovative solution aims to address the issue of liquidity fragmentation in the blockchain space. The team pointed out that the rise of various chains, L2s, and rollups has led to this fragmentation, which has created complexity and a poor user experience. Saga aims to change that.
Saga’s L1 protocol provides infinite horizontal scalability through chainlets. However, the team clarified that this scalability no longer leads to liquidity fragmentation. Developers can easily request chainlets, but the decentralized nature of these chainlets has traditionally resulted in fragmented liquidity. LIL offers an integrated architecture that introduces automatic composability to Saga’s ecosystem. This connects chainlets seamlessly, providing instant access to tokens, services, and applications within and beyond the ecosystem.
Today we are introducing Saga's Liquidity Integration Layer (LIL) – a groundbreaking solution to tackle liquidity fragmentation in the blockchain space. Here's what you need to know: 🧵👇https://t.co/hH22YXcrc6 pic.twitter.com/A62ikbIAQv
— Saga ⛋ (@Sagaxyz__) August 12, 2024
Saga’s price increase followed a recovery from its monthly lows, forming a double-bottom pattern. This pattern suggests the possibility of a bullish reversal if the price moves above the pattern’s neckline.
By applying the Fibonacci retracement from the recent swing high of $1.82 to the swing low of $0.86, the golden zone was identified around the $1.44 level. The golden zone in Fibonacci analysis is often considered critical for potential reversals. If the bulls push the price above this $1.44 level, it could signal the end of the correction phase and the beginning of a new bullish trend.
3. Shiba Shootout (SHIBASHOOT)
Shiba Shootout is a meme coin project that transports its community to a Wild West-themed digital world. It offers more than just a typical cryptocurrency investment. Firstly, it provides an engaging experience that blends creativity, competition, and community spirit.
Moreover, the project includes several innovative features to keep its community actively involved. For example, the Posse Rewards referral program motivates users to expand the community by offering bonus tokens for successful invitations. The Campfire Stories sessions also allow members to share their crypto adventures, with the most entertaining stories earning token rewards.
Shiba Shootout also emphasizes community governance through its Token Governance Roundups, where token holders can vote on important project decisions. This democratic approach gives the community a significant role in shaping the project’s future.
Furthermore, the Lucky Lasso Lottery system enables participants to purchase lottery tickets using Shiba Shootout tokens, with some of the proceeds supporting charitable causes. This feature combines the excitement of potential winnings with a commitment to social responsibility.
🎉🌟 Try the Lucky Lasso Lottery! 🎰
Use #Shiba Showdown tokens to win prizes & support causes! 🤠💰 Lock tokens in Savings Saddlebags to earn rewards! 🏆💼 pic.twitter.com/W8BGAT7df5
— shibashootout (@shibashootout) August 13, 2024
Additionally, Cactus Staking offers a visually appealing way for users to grow their token holdings. By staking their tokens on a digital cactus plant, users can watch their rewards grow over time, adding a playful twist to the usual staking process.
Shiba Shootout is currently in its presale phase and has raised $935,191.71 of its $1,699,291 target. The token is trading at $0.0199, reflecting increasing interest from early investors. While partnerships are planned for the next phase, the project remains focused on building a strong foundation and community.
4. Gravity (G)
Coinbase recently announced its plan to list Gravity (G), an Ethereum-based token, drawing significant attention from investors. The listing will begin on August 13, 2024, provided liquidity conditions are met. This announcement has already impacted market trends and boosted the price of Gravity.
After the news, Gravity’s price jumped from $0.37 to over $0.04294, marking a 12.48% increase within 24 hours. Gravity’s market capitalization also rose to $310 million, while its 24-hour trading volume surged by 226.26%, reaching $87.39 million. Investors are watching these developments closely as the listing date nears.
Coinbase also announced a major transition involving Galxe (GAL) tokens, which will convert to Gravity (G). This transition will occur on the Ethereum network, but users must manage the process themselves. Starting July 9, 2024, an official GAL token transition portal will be available to users and will remain open for at least one year.
Earn an extra boost when you participate in the G staking program.
Users who stake G unlock a boost percentage, a multiplier that amplifies the rewards you can potentially earn on platform activities.
— Gravity (@GravityChain) August 12, 2024
For investors, adding G to Coinbase’s roadmap presents new opportunities. It offers a chance to get involved early with a promising asset, potentially leading to significant rewards as the token gains traction. However, it also carries risks, especially given the Experimental label that may be applied.
5. VGX Token (VGX)
In the last 24 hours, VGX has seen a 6.39% increase, now trading at $0.03736. After months of decline, VGX broke its bearish trendline and entered a consolidation phase in late July. The bulls have found support from the 50-day SMA, which has helped maintain the price within this consolidation stage. This momentum has allowed the price to approach the 200-day SMA. A break above this level could signal a bull rally for VGX.
The relative strength index (RSI) for VGX is currently bullish, sitting at 79, above the overbought region. This suggests strong bullish momentum. The RSI could continue to rise, indicating even more strength in the market. Additionally, the awesome oscillator shows green bars trading at 0.032 above the neutral mark, giving buyers the confidence to enter the market without significant risk.
"The VGX Foundation and Cardano-based project Clay Nation, have entered into a partnership integrating the $VGX token into Clay Nation through a grant that offers VGX rewards for Clay Nation’s dedicated community."
We'd like to go into a bit more detail in regards to our… pic.twitter.com/WVNsfMMoTU
— VGX Foundation (@VGXFoundation) August 10, 2024
Chart analysis indicates that if VGX breaks out above the falling wedge and receives continued support from the 50-day SMA, its price could surge to $0.58. However, the 200-day Simple Moving Average presents a potential hurdle, with a support level of $0.085. Meanwhile, VGX’s market cap has grown by 7.48%, reaching $12,821,369, while the 24-hour trading volume increased by 36.41%, hitting $20,250,552.
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