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The overall crypto market trends signal the return of the memecoin season. Many of the assets in the category might become the next cryptocurrencies to explode. While the bull runs in current at full speed, memecoins like PEPE, BONK, FLOKI, etc., are printing dramatic gains.
Despite growing interest in memecoins and DePIN tokens, Bitcoin remains the driver of the current bull run. Bitcoin sets the pace of the market, and owning a significant amount of BTC could offset any downside incurred on mistimed investment.
Next Cryptocurrency To Explode Tuesday
Attention in the crypto market in the coming month will go toward the mining sector and making the most of the post-Bitcoin halving market. Hence, investors can capitalize on the moment and take a position in upcoming tokens like the 5th Scape. The project aims to revolutionize user interactions with virtual environments by blending innovation with entertainment. This post covers the details of its presale.
1. Hedera (HBAR)
HBAR, Hedera Hashgraph’s cryptocurrency, saw a massive 100% increase of $0.18. BlackRock, a major financial company, announced on April 13 that it would use Hedera Blockchain to tokenize its money market fund. This news boosted HBAR’s price, surpassing previous highs in April.
Archax (the HBAR Foundation) and Ownera (a digital assets platform, collaborated to achieve this milestone, similar to Abrdn’s tokenization of its MMFs on the Hedera blockchain last year. abrdn is the UK’s largest wealth manager, adding significance to this move in the crypto world.
This development spurred a surge in HBAR trading volumes, reaching $2.3 billion, a 5440% increase. It’s the first time in two years that HBAR surpassed $0.15. If the bullish trend continues, the rally may reach all-time highs.
The Relative Strength Index (RSI) supports the bullish outlook, suggesting growing momentum for HBAR.
https://twitter.com/HBAR_foundation/status/1782759384742813951
After reaching $0.1817, HBAR may aim for psychological levels like $0.2000 or $0.3000 if the bullish trend persists. However, this depends on HBAR bulls refraining from profit-taking.
HBAR’s price is currently bullish, with the MACD line above the MACD Signal line on the 4-hour chart. Traders should monitor the RSI indicator, particularly for a narrowing gap between the RSI and its Simple Moving Average (SMA) line.
2. Bonk (BONK)
Bonk emerged during the meme coin frenzy, propelled by community efforts and online buzz. Although its rise was rapid, Bonk’s reliance on viral trends exposes it to significant price swings. This emphasis on popularity rather than technology or usefulness raises concerns for its long-term stability, especially in a market where fundamentals matter more than hype post-halving.
Bonk saw a remarkable 30% increase in a single day, drawing attention from experienced cryptocurrency traders. Its sharp ascent was particularly striking in a market known for its unpredictability. Currently, BONK boasts a market capitalization of $1.76B and is priced at $0.00002664.
BONK has grabbed investors’ attention with a total volume of about $580 million. As soon as it got listed on Revolut, its value shot up roughly 30%. Coinmarketcap noticed a nearly 30% rise in Bonk’s trading volume within 24 hours, making it more visible in the market.
This sudden demand for Bonk has also attracted investors to Solana’s ecosystem. Experts predict this could lead to a price increase of about 22.80% to reach $174.48, potentially positioning Solana as one of the leading cryptocurrencies.
BONK had a blast sponsoring @CryptoFightWeek’s #CFN4
Awesome 📸 here of the main event with @blknoiz06 & @barneytheboi by @JNSilva_#LetsBONK ❗️❗️❗️ pic.twitter.com/C5rnTNAtpT
— BONK!!! (@bonk_inu) April 20, 2024
According to one analyst, Bonk is moving towards the upper limit of a descending channel. We expect Bonk to break through this resistance and move towards its previous highs.
3. 5th Scape (5SCAPE)
The launch of 5th Scape, an innovative online VR gaming platform, aims to revolutionize user interactions with virtual environments by blending innovation with entertainment. The latest data on virtual reality (VR) gaming indicates a solid upward trend, showing promising opportunities for investors. Projections suggest that revenues in the VR industry will soar to unprecedented levels. With the innovations 5th Scape will bring, it has to be one of the next cryptos to explode.
Projections show that the rising desire for immersive experiences and advancements in VR technology will drive this growth. Consequently, analysts and experts expect the user base to exceed 6,887 million by 2030. This growth will result in a significant increase of 104.9%.
The design of 5SCAPE Coin helps users access premium VR content and improve gaming experiences. This unique digital currency allows special features in games and connects users in the platform community, showing potential growth in VR.
🌟 Unlock new dimensions with 5th Scape! Dive into adrenaline-pumping battles, precision archery, and high-speed racing—all within the limitless virtual realm. Holding 5SCAPE tokens unlocks exclusive benefits like free games, discounts, and seamless in-world transactions.
The… pic.twitter.com/LNO30KXRPW— 5th Scape (@5th_scape) April 20, 2024
During the ongoing Presale Stage 5, 5th Scape has raised $5,458,549, showing investors are interested. The coin’s listing price is $0.00327, potentially increasing by 365.12%. Investors can take advantage of the current price before it rises further.
4. Ondo (ONDO)
Ondo (ONDO) is currently trading at a range of $0.64 to $1.03. In the last week, it went down by about 9.81%, but it’s still up by 10.08% for the month. Over six months, its price shot up by an impressive 2614.20%. Now, it is stabilizing after such big gains. Indicators like the RSI at around 48.67 suggest neutral momentum, and the Stochastic shows the coin might be oversold.
Ondo’s future price could go up or down. Right now, it’s closer to the support level at $0.09 than the resistance at $1.24. That means there might be room for it to grow. However, if downward pressure continues, the support could be tested at $0.47 again.
On the bright side, if it breaks $1.24, it could surge toward $1.62. With all these factors, ONDO’s path might be bumpy as the market adjusts to its recent growth.
Ondo Points earned throughout the last week are now visible in the dashboard! How many points do you have? 🔢🏆
Total Participating Addresses: 80298
New Addresses This Week: 5161
Address With Highest Percentage Points Growth: 46375.0% (1855 points)➡️ https://t.co/Zpl0PkJWic pic.twitter.com/HNAuGoGWr9
— Ondo Foundation (@OndoFoundation) April 23, 2024
ONDO token holders play a crucial role in shaping the future of the Ondo DAO, which aims to make institutional-grade finance accessible to more people. They have specific rights related to Flux Finance, which the Ondo DAO currently governs.
5. Mumu the Bull (MUMU)
The price of Mumu the Bull has surged by 28.70% within the last day, reaching $0.00001312 at the time of writing. This rise follows a significant downtrend, with token holders expressing satisfaction with the turnaround, believing the correction presented a ‘buy the dip’ opportunity.
Despite the increase, the altcoin is encountering resistance due to a descending trendline, which has limited its potential gains since mid-March. However, it finds strong support at $0.000004761. The current outlook indicates a falling wedge pattern, suggesting a potential breakout as the pattern fills up.
A falling wedge pattern is identified by decreasing highs and lows, forming a wedge. This signals a possible downtrend reversal as the price consolidates within a narrowing range before breaking upward.
MUMU’s price is approaching the end of a falling wedge pattern, indicating a likely bullish breakout soon, supported by various positive technical indicators. The Relative Strength Index (RSI) shows increasing momentum with higher highs.
The Awesome Oscillator (AO) and Moving Average Convergence Divergence (MACD) display green histogram bars in positive territories, further confirming the bullish trend.
If the price breaks above the descending trendline, the next significant level to watch would be $0.00001442, followed by targets at $0.00002112 or potentially higher at $0.00002762. In a highly bullish scenario, the price may surpass the psychological barrier of $0.00003000.
The likely scenario for the next few hours or days involves consolidation within the triangle pattern before a possible breakout following a final retest of the $0.000004761 support level. But despite some volatility, we believe Mumu the Bull is one of the next cryptocurrencies to explode.
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