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The altcoin market is fluctuating, but some coins try to bounce back. Investors need to stay alert during this consolidation phase, as it could be a chance to ride a rising trend.
Institutional investors are now paying more attention to interoperability and tokenizing real-world assets. Prices of these assets are climbing, even before the market takes off entirely. The objective is to identify the next cryptocurrencies to explode and inform investors and traders about each token.
Next Cryptocurrency To Explode
Attention in the crypto market in the coming month will go toward the altcoin and meme coin sectors and making the most of the altcoin market. Hence, investors can capitalize on the moment and take a position in upcoming tokens like The Meme Games. The Meme Games combines the trill of the Olympics with meme coins to give crypto enthusiasts a fun and competitive presale event. This post covers the details of its presale.
1. Immutable (IMX)
Immutable X is making a notable impact in the NFT space by solving key challenges on the Ethereum network. As the first layer-two scaling solution specifically for NFTs on Ethereum, it effectively addresses issues like limited scalability and high gas fees. This enables users to enjoy instant trading and handle large-scale transactions efficiently. With its zk-rollups technology, Immutable X processes transactions off-chain while maintaining security by storing proofs on Ethereum’s main chain.
Moreover, Immutable X offers an easy-to-use API abstraction layer, simplifying the process for developers to mint, trade, and transfer NFTs. This user-friendly approach is particularly appealing to gaming and content companies looking for seamless integration. The platform also provides a unified NFT wallet experience through its “Link” feature, which ensures secure support for third-party marketplaces. This feature lowers entry barriers for both content creators and developers.
Access Immutable and the entirety of our gaming ecosystem, through @squidrouter!
Squid is now live on Immutable Passport and Toolkit.
Immutable zkEVM is one of the fastest-growing chains in history and Squid now provides swap capabilities at the fingertips for all gamers.… pic.twitter.com/5P7KzUE3eq
— Immutable (@Immutable) August 26, 2024
Last week, ImmutableX (IMX) showed steady growth, with intraday gains of 7% until press time. Meanwhile, the 24-hour trading volume increased by 35%, reaching $46.397 million. Globally, Immutable was the 38th-largest cryptocurrency, with a market cap of $2.081 billion. Currently, 78.64% of the maximum supply is circulating, with a total supply of 2 billion tokens, resulting in a fully diluted valuation (FDV) of $2.645 billion.
As the largest gaming token in the crypto industry, with a $2 billion market cap, the IMX token has risen by 25.15% over the last seven days. It is currently trading at $1.46 despite a slight 0.76% dip in the last 24 hours. The daily chart for the IMX token reveals a falling wedge pattern, but the recent bullish trend suggests a positive breakout rally.
2. DOGS (DOGS)
The Dogs Community is an energetic, community-driven project built on the TON Blockchain. It aims to tap into Telegram’s large user base and meme culture. The project centers around a dog mascot created by Telegram’s founder and seeks to introduce millions to blockchain technology through tokenized stickers. This creates a fun, engaging ecosystem focused on community ownership and fair rewards.
Recently, over 10 million DOGS holders engaged in swaps and on-chain transactions. This surge in activity overwhelmed Telegram Wallet’s storage, causing temporary service issues. Telegram Wallet is working on fixes to restore full functionality.
Following an airdrop, DOGS initially traded around $0.0012, matching its pre-market price. However, the token saw a volatile start, dropping by about 32% to $0.001182 by the day’s end. The fully diluted valuation (FDV) was reported at $707 million, exceeding initial estimates of $550 million. These price fluctuations were expected, given the intense trading and technical challenges.
Despite the current bearish trend and technical issues, there is significant excitement around the DOGS token. Some analysts believe it could rebound once the market stabilizes.
3. The Meme Games (MGMES)
The Meme Games bring Olympic-style competition to meme coins, where popular internet memes like Dogecoin, Pepe, dogwifhat, Brett, and Turbo compete for crypto glory. Investors can buy $MGMES tokens and choose to back one of these five memes. The winning meme is randomly selected through blockchain technology, adding excitement and a chance element. If your meme wins, you earn a 25% bonus on your initial purchase.
Players can enter multiple times by purchasing more $MGMES tokens with no minimum buy-in. This strategy allows for more chances to win. The Meme Games are entertaining and potentially rewarding, with a staking protocol for $MGMES tokens. In addition to offering an annual yield of 529%, the platform has already seen over 19.1 million $MGMES tokens staked since launch, showing strong investor confidence. Participating in The Meme Games lets you win $MGMES tokens through racing and then stake them for additional passive income.
The project has attracted significant interest, raising nearly $399,748.6 so far. Early buyers can get $MGMES tokens at $0.00935 using $ETH, $USDT, $BNB, or a credit card, with prices set to rise in less than 72 hours.
The Meme Games token presale will end on September 8, coinciding with the end of the Paralympics. The token will be listed on decentralized exchanges (DEXs) on September 10, and many investors expect significant gains.
4. Akash Network (AKT)
Akash Network is making strides despite the current volatility in the cryptocurrency market. The network is focused on breaking down barriers and enhancing accessibility for both users and developers. A key development is the Quasarch Cloud Platform, which allows 1-click deployments on Akash Network. This feature removes the need for cryptocurrencies to interact with the platform, making it easier for users to access.
Additionally, Akash Network’s native token, AKT, has shown positive market performance. According to CoinMarketCap, AKT is priced at over $2.90, up 10.91% in the last 24 hours. This minor recovery suggests that AKT might be finding some resistance despite the broader market downturn.
Akash was featured in the latest report from @Grayscale, which highlights the leading protocols in the decentralized AI space. https://t.co/YCBYQMBvTs
— Akash Network (@akashnet_) August 26, 2024
From mid-2022 until recently, Akash Network was a market favorite, significantly rising from $0.20 in June 2022 to over $6 in March 2024. Although there has been a recent decline, the demand for powerful Nvidia chips like the H100 and A100—vital for AI applications and crypto protocols—remains strong. This demand supports Akash’s GPU marketplace, hinting that the recent price drop could be a buying opportunity.
Moreover, Akash Network is well-aligned with Nvidia’s business at the intersection of blockchain and the semiconductor industry. It offers distributed GPU rendering solutions on the blockchain. For instance, Akash Network’s website shows that one can rent Nvidia’s H100 GPU for less than $1 an hour, a highly affordable rate for a product that sells for over $30,000.
5. Helium (HNT)
Amid rising volatility, Helium’s (HNT) price defies the bearish trend with a 12% surge. A bullish engulfing candle suggests that Helium may be gearing up for a breakout to a new 52-week high this week. With a market cap of $1.14 billion, Helium ranks #59 in the crypto market, and its performance during the broader market recovery has set its sights on a potential $10 breakout this year.
The daily logarithmic chart of HNT reveals a falling channel breakout in the near term. Over the past 45 days, the altcoin has surged by 127% since July 12, reflecting a strong bullish trend. As this trend continues, the bulls might soon challenge the overhead resistance, potentially triggering a breakout rally. The upward movement in the daily RSI line further supports the possibility of this rally.
Helium is leading the surge among the top 100 cryptocurrencies, outperforming many other altcoins that are mostly in decline. The price of HNT jumped 14% to $7.17, and its market cap exceeded $1.6 billion. Following this price increase, HNT’s daily trading volume spiked by 160%, reaching $31 million.
The monthly Helium Network Community Call is happening this week, on Wednesday, August 28th, 2024, at 16:00 UTC in the Helium Discord.
Join the event here: https://t.co/8Xltmtpqa2.
This call is an incredible opportunity for developers, Hotspot owners, and all members of the… pic.twitter.com/SqGjfdnNYS
— Helium🎈 (@helium) August 26, 2024
This latest price jump comes just before a community call scheduled for August 28 at 16:00 UTC. This monthly event brings together developers, hotspot owners, and community members to discuss protocol governance and other issues related to the Helium ecosystem.
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