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Many altcoins are trying to make a comeback as they record significant gains. Meanwhile, Bitcoin (BTC) has returned to $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. Wormhole (W)
Wormhole (W) is currently trading between $0.23 and $0.4. Over the past week, its price has increased by 10.38%, with a 10.67% rise in the past 24 hours. Despite a noticeable dip last month, the price prediction for Wormhole remains bullish. The coin is trading 0.94% below its recent cycle high but is still 44.50% above the low. Additionally, it has shown low volatility, at 19% over the past 30 days.
Wormhole’s market cap is $611.68 billion, and its 24-hour trading volume is $38.38 million, marking a significant 72.05% increase. This surge in trading volume suggests growing investor confidence in Wormhole’s ongoing developments.
Wormhole is well-regarded for its interoperability platform that supports multichain applications and bridges. It provides access to liquidity and users across over 30 major blockchain networks. This functionality covers various areas, including DeFi, NFTs, and governance, making Wormhole a vital component of decentralized ecosystems.
The Wormhole network is trusted by major players such as Circle and Uniswap. So far, the platform has facilitated over $40 billion in transactions through more than 1 billion cross-chain messages.
The Wormhole Roadmap pic.twitter.com/IdwdQUPFQb
— Wormhole (@wormhole) August 14, 2024
Currently, Wormhole is trading below its 50-day simple moving average (SMA). Despite this, market sentiment around Wormhole remains positive. Technical analysis shows that while the coin is trading below the crucial support level of $0.55, the trading chart hints at a potential rebound. With the anticipated bull run, Wormhole’s price could reach $1.
2. Artificial Superintelligence Alliance (FET)
Artificial Superintelligence Alliance (FET) is priced at $0.9, reflecting an 8% increase over the past seven days. Investors are seeing profits supported by positive on-chain data. Notably, the Daily Trading Volume to Profit and Loss ratio has reached its highest level since July 27, at 2.4. Additionally, there has been a significant rise in the number of large holders, or whales, of FET Coin.
Data from Santiment shows that the number of addresses holding between 10,000 and 10 million FET tokens has grown by 16% in just seven days. This group now controls over 37% of the 2.52 billion token supply. The recent drop in Bitcoin’s price has impacted FET’s current value, which is also below its 20-day moving average. For Bitcoin to confirm the continuation of its short-term uptrend, it must close above $63,000. At the time of writing, Bitcoin was trading at $60,940, with many altcoins seeing gains of 5% or more.
FET Coin could benefit from this positive trend. However, if the market turns bearish, FET might retest the $0.7 level, last seen during the drop on August 5. Conversely, reclaiming the $1 threshold could accelerate its rally toward $1.35.
🤖 Discover @Fetch_ai : The Future of Decentralized AI https://t.co/vOkcUDB8G9 is revolutionizing the AI landscape with its decentralized machine learning platform, powered by a distributed ledger ecosystem. It enables secure global sharing, connections, and transactions… pic.twitter.com/BD2mFRWg47
— New to The Street (@NewToTheStreet) August 14, 2024
Fetch.ai (FET) teamed up with Ocean Protocol and SingularityNET to form the Artificial Superintelligence Alliance (ASI), a project valued at $7.5 billion. FET alone holds a market value of $2.2 billion. In the last 24 hours, FET has risen by 9.30% and has surged by 332.68% over the past year, now trading at $0.9. With the nearest resistance at $1.0663 and support at $0.5763, FET has the potential for a strong rally if it breaks through these levels.
3. Shiba Shootout (SHIBASHOOT)
Shiba Shootout is a meme coin project that takes its community to a Wild West-themed digital world. It offers more than just a typical cryptocurrency investment. By blending creativity, competition, and community spirit, it provides an engaging experience.
The project has several innovative features designed to keep its community actively involved. For instance, the Posse Rewards referral program encourages users to grow 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 focuses on 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.
🚀 Want to earn big for free? 🎮 Check out #ShibaShootout, the new #crypto game with huge rewards!
Check out the full video here: https://t.co/356s4q37Eo pic.twitter.com/qKC9EwAoWN
— shibashootout (@shibashootout) August 19, 2024
Furthermore, the Lucky Lasso Lottery system allows participants to purchase lottery tickets using Shiba Shootout tokens, with some of the proceeds supporting charitable causes. This feature adds the excitement of potential winnings while also promoting social responsibility. Moreover, Cactus Staking offers a fun 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.
Currently, Shiba Shootout is in its presale phase, having raised $987,564.51 of its $1,699,291 target. The token is trading at $0.0199, but interested investors must hurry to secure it at its current price as it will increase in less than three days. While the project plans partnerships for its next phase, the primary focus remains building a strong foundation and a vibrant community.
Visit the Shiba Shootout Presale Now
4. Syscoin (SYS)
Syscoin (SYS) experienced a significant surge of over 60% after Binance introduced the SYS/USDT perpetual contract. When new trading pairs are added to major platforms like Binance, the price of supported cryptocurrencies is often increased. Syscoin’s price responded strongly to this announcement, jumping by more than 60% within 24 hours. At the time of writing, SYS was trading at nearly $0.16, marking its highest level since early June, according to CoinMarketCap.
This price surge also boosted Syscoin’s market cap, which exceeded $121 million at the time of writing. The trading volume supported this sharp increase, rising by 220.39% to surpass $273 million. Moreover, the Moving Average Convergence Divergence (MACD) indicator consistently shows a green histogram, reflecting growing buying pressure in the crypto market.
📈 $SYS is now available for futures trading across three major exchanges: @Binance, @MEXC_Official, & @Gate_io!
🎚️ Customers with access to these exchanges can now make prediction-based trades on #Syscoin with up to 50x leverage.
— Syscoin (@syscoin) August 19, 2024
Additionally, the Simple Moving Average (SMA) indicator has formed a positive curve, suggesting that SYS’s price could continue to rise. If the market gains more momentum, Syscoin’s price might aim for its upper resistance level of $0.1630 in the coming weeks. However, if bearish forces take over, the altcoin could retest its crucial support level of $0.0670.
5. Sun Token (SUN)
The current price of SUN stands at $0.01209, showing a significant 19.69% increase in the last 24 hours. The market cap has also risen by 20.22%, reaching $120,757,724. The 24-hour trading volume has also surged by 158.20%, totaling $53,880,306. Moreover, SUN is trading 47.95% above its 200-day simple moving average (SMA) of $0.008192.
Despite a Fear & Greed Index of 30, indicating a level of fear, the sentiment around SUN remains bullish. The recent increase in price and trading volume suggests growing optimism and a potential uptrend for the token.
SUN.io, TRON’s first one-stop platform, supports stablecoin swaps, token mining, and self-governance. The new SUN token offers holders various rights, such as voting, governance, value capture, and staking rewards.
With strong fundamentals and a supportive crypto community, SUN shows potential for significant growth. If the project secures collaborations with other networks, its price could exceed $0.1 by 2024. If the current bullish trend in the crypto market continues, the average cost of SUN tokens could reach $1 by 2025. However, if the market turns bearish, the price might drop to a minimum of $0.008 in 2024.
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