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Many altcoins are trying to make a comeback as they record significant gains. Meanwhile, Bitcoin (BTC) crashed to $54,000 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. Pendle (PENDLE)
Upbit, South Korea’s largest cryptocurrency exchange, started the day with altcoin announcements. Upbit announced that it would list a new altcoin, Pendle (PENDLE), on KRW and BTC trading pairs. Following the news, PENDLE’s price increased by 30%. As of press time, Pendle had risen by 45.13% to $2.89.
Pendle Coin has garnered attention in the crypto community for its innovative approach to yield trading. The platform allows investors to separate ownership of future yield from the principal investment, offering greater flexibility and potential profit opportunities. This unique feature positions Pendle Coin as a notable project in the crypto space. Analysts predict significant growth for Pendle, driven by its novel yield trading mechanism.
Ultra short-term fixed yield maturity:
🔹 12% Fixed APY for weETHs (you get more weETHs by maturity)
🔹22 days till maturity https://t.co/UXm3S7AA0U— Pendle (@pendle_fi) August 6, 2024
However, the Pendle price prolonged its consolidation as the broader market witnessed a surge in supply pressure after Bitcoin reverted from $70,000 last Monday. The renewed selling pressure is pressing the Pendle coin against multi-month support with the potential for a bearish breakdown. Nonetheless, recent accumulations from prominent institutions signal a potential for reversal.
Moreover, Pendle Coin’s ability to separate ownership of future yield from the principal investment has made it a hot topic. This unique feature allows investors to trade their yield independently, offering more flexibility and potential profit opportunities.
2. AIOZ Network (AIOZ)
AIOZ Network is a decentralized platform for Web3 AI, storage, and streaming. It aims to create a faster, secure, and decentralized future. By leveraging a global network of decentralized infrastructure providers (DePINs), AIOZ rewards users for sharing computational resources. These resources store, transcode, and stream digital media content and power decentralized AI computation.
Currently, AIOZ Network’s price is between $0.478 and $0.60. It faces resistance at $0.65 and has support at $0.41. Over the past 24 hours, AIOZ jumped over 23.5%, and it’s up more than threefold over the past six months. The coin’s price movement shows an even battle between bulls and bears.
This week, @AIOZNetwork, represented by @imcryptosherry, held a joint #AMA with @rss3_ and @openinfo_ to discuss the topic “Why DePIN for Web3 AI?”
This tweet provides a recap of of everything discussed during this #AMA, just in case you missed out.👇
INTRODUCTION AND WELCOME… https://t.co/nnNUW6Inil
— AIOZ Network (@AIOZNetwork) August 2, 2024
Moreover, the daily chart shows a declining parallel channel pattern, with the price near the upper boundary—the $0.69 level acts as a major resistance zone. Furthermore, the Relative Strength Index (RSI) is neutral at around 51. If AIOZ breaks resistance at $0.65, it could rise another 10% towards the next hurdle at $0.77. On the downside, falling below $0.41 may bring it down 15% to the next support at $0.28.
Additionally, Sei Network is partnering with AIOZ Network to enhance decentralized infrastructure solutions. This collaboration aims to provide builders in the Sei ecosystem access to infrastructure-as-a-service options. These options include AIOZ W3S (S3-compatible storage), AIOZ W3IPFS (Web3 IPFS pinning service), AIOZ W3AI (AI-as-a-service), and AIOZ W3Stream.
3. Shiba Shootout (SHIBASHOOT)
Shiba Shootout is a unique meme coin project that brings its community to a Wild West-inspired digital frontier. Firstly, it offers an immersive experience that combines creativity, competition, and camaraderie, going beyond a typical cryptocurrency investment.
Moreover, the project has several innovative features designed to engage its community. The Posse Rewards referral program encourages users to grow the community by offering bonus tokens for successful invitations. Additionally, Campfire Stories sessions provide a platform for members to share their crypto experiences, with the most entertaining stories earning token rewards.
Shiba Shootout also emphasizes community governance through its Token Governance Roundups. These regular events allow token holders to vote on key project decisions, similar to a democratic process in a Wild West town. This approach ensures the community has a strong voice in shaping the project’s future.
Furthermore, the Lucky Lasso Lottery system allows participants to purchase lottery tickets using Shiba Shootout tokens, with a portion of the proceeds dedicated to charitable causes. This feature combines the thrill of potential winnings with a commitment to social responsibility.
Introducing #CactusStaking! 🌟🌵
Stake your #ShibaShootout tokens on a digital cactus and watch your rewards grow! 🚀🌸 pic.twitter.com/Z8OXUJSb5D
— shibashootout (@shibashootout) August 6, 2024
Additionally, Cactus Staking provides a visually engaging way for users to grow their token holdings. By staking their tokens on a digital cactus plant, users can watch their rewards accumulate over time. This playful representation of staking adds a unique twist to a common cryptocurrency practice.
Shiba Shootout is currently in its presale phase, having raised $881,767.54 from a $1,631,230 target. The token currently trades at $0.0198, indicating growing interest from early investors. While partnerships are planned for the next phase, the project focuses on building a strong foundation and community. Considering everything, we can expect SHIBASHOOT to be an upcoming crypto to explode.
Visit the Shiba Shootout Presale
4. Ondo (ONDO)
Ondo Finance (ONDO) is an innovative project that connects decentralized finance (DeFi) with traditional finance. Firstly, ONDO aims to create a hybrid financial ecosystem where users can easily access and manage crypto and traditional financial assets. This integration offers great flexibility and security, making Ondo Finance a key player in the future of global finance.
Despite a significant drop in Bitcoin and Ethereum, ONDO trades between $0.54 and $0.94, showing growth potential. Moreover, the current dip offers a buying opportunity as ONDO is close to its support level of $0.39. If ONDO breaks past its nearest resistance at $1.19, it could gain up to 100%.
The ONDO token provides real-world utility by enabling users to participate in governance, stake for rewards, and access exclusive financial products. Additionally, its platform facilitates secure and transparent financial transactions, reducing the risk and complexity associated with traditional monetary systems.
In the past 24 hours, the Ondo price has surged 37.47%. However, it has plunged 27.65% within the past week and 26.45% over the past 30 days, showing mixed sentiment for this altcoin. The current RSI and MACD suggest it’s oversold, indicating potential upward momentum soon. In the past six months, ONDO has risen by over 150%, showing its capacity for rapid growth.
Although the short-term outlook looks bearish, this could be the time to spot a bullish reversal as the market recovers. If the market regains momentum, the ONDO price will test its resistance level of $0.98. Conversely, if the bears overpower the bulls, the Ondo crypto will plunge toward its low of $0.44.
5. Bittensor (TAO)
In the past 24 hours, Bittensor’s TAO has surged 34.70%, making it one of the day’s top performers. Last month, DCG Vice President Evan Malanga congratulated Masa, a decentralized AI network, on Twitter for successfully launching their Bittensor subnet on the testnet.
This achievement is expected to attract over 1.5 million users to Masa and introduce the subnet’s first dual-token incentive structure. This development has positively impacted Bittensor’s native token, TAO, which rose by 34.70% in the last 24 hours to $252.62. Over the past week, TAO was affected by the general market bearishness and fell by 22.17%.
Masa’s dual-token incentive structure on the Bittensor network is notable. This innovative approach aims to reward users and contributors more effectively, promoting greater participation and engagement within the network.
Big security upgrades and successful integration of Ledger support in dev-net.
Major efforts underway to claw back a substantial amount of TAO from exchanges post-attack.
This and more in our latest Community Q&A: https://t.co/nbhPmK5tFb pic.twitter.com/yZoLlozU6t
— Openτensor Foundaτion (@opentensor) July 27, 2024
In the past month, Bittensor’s price increased by 11.06%. This rise contrasts with its trend over the past week, where it experienced a loss, dropping from over $260 to its current price. The coin’s all-time high stands at $757.60.
Additionally, the coin’s market cap has increased by over 31.16% in the past day. The overall circulating supply of the coin has grown by 0.52% to over 7.18 million, about 34.20% of its maximum supply of 21 million. TAO now ranks #39 in market cap, valued at $1.79 billion.
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