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Investors hope for a rate cut and are being put to the test again. Finding the next cryptocurrencies to explode may become more challenging following the release of the U.S. CPI. The document shows an overall increase of 0.4% in March on a seasonally adjusted basis.
According to the U.S. Bureau of Labor Statistics report, there’s been an increase of about 3.5% in the all-items index over the last 12 months. This data hints at an increasing inflation rate. Consequently, investors fear the financial market may receive less funds inflow to sustain the bull market. There’s been a reflection of the trend in the intraday price actions of cryptocurrencies.
Next Cryptocurrency To Explode
On the other hand, presale cryptos are posting impressive numbers that investors can’t afford to ignore. Slothana, for example, is one of the projects showing remarkable potential for rapid price increases. It recently crossed the $10 million milestone in its presale funding, and this post captures the essential details of its performance. It also captures information that investors need to know about the project.
1. Theta Fuel (TFUEL)
Theta has performed impressively in this bull market, increasing by over 200% since the final quarter of last year. While the Theta Fuel token, TFUEL, is markedly different from the native cryptocurrency of the Theta network, it benefits from the growing influence of the platform.
TFUEL is used mainly for transactions within the network. It functions within an intelligent contract economy, including fees and NFTs. The growing use cases of the Theta Network have dramatically increased the demand for the TFUEL token. Hence, the token has witnessed a significant surge in value. Moreover, market data reveals that TFUEL may outperform several tokens if the market returns to a full-scale bull market.
At the time of writing, the token is in a reversal trend, with over 15% price dump. The TFUEL price downward action is not isolated, as several other cryptocurrencies in the market are posting losses. On the other hand, TFUEL RSI14 has given a neutral reading of 59. It means the Bulls still have a chance of regaining the upper hand.
EdgeCloud v1 release is coming May 1, with an EC-powered GenAI showcase! Check the release blog to see how EdgeCloud will revolutionize cloud + edge computing w/ the best price-to-performance GPU power for any AI, video, 3D rendering or gaming task.https://t.co/T0FN4yP0CH
— Theta Network (@Theta_Network) April 8, 2024
The arrival of EdgeCloud in the Theta ecosystem is another pivotal initiative to look out for. According to the post on the network’s official Twitter handle, the innovation would unlock and provide access to artificial intelligence to developers and users in the network. Hence, TFUEL, one of the platform’s most used tokens, would benefit from the windfall. Above all, investors should include the token on the watch list to capitalize on its growing value.
2. DeXe (DEXE)
DeXe protocol token, DEXE, might be one of the next cryptocurrencies to explode. The token has amassed over 53% price increase in the seven days, and it posted over 10% price increase today along with over 108% increase in trading volume. The token’s price action comes from the growing visibility it recently gained across the market.
Firstly, its exchange listing, particularly on Binance, gave it the initial upward momentum. The price pump resulted in multiple increases in value. However, a recent announcement by DWF labs posted on the DeXe official Twitter handle has generated a fresh round of visibility for the token.
Technical analysis of DeXe shows that crypto could maintain its uptrend for a more extended period. ADI reading returns a value of 71, indicating a strong trend. Similarly, DeXe RSI14 gives a value below the 70 mark on the daily time frame, a trend suggesting that the token is not overbought.
DeXe Protocol DAO has approved the on-chain proposal for a liquidity partnership with @DWFLabs.
Recently, DWF Labs initiated a sequence of off-chain and on-chain proposals that was finally approved by the community and executed on-chain.
— DeXe Protocol (@DexeNetwork) April 9, 2024
Hence, the bulls can fend off the momentary pullback of the token. Similarly, the moving average of the token indicates that the bulls have the upper hand and might be able to sustain it for the time being. Overall, investors should keep an eye on the token’s price action as its market data shows an impressive uptrend ahead.
3. Slothana (SLOTH)
Slothana recently raised over $10 million in 14 days, making it one of the fastest to reach that milestone on the Solana chain. Moreover, the Slothana team and its growing community have achieved that edge against the recent congestion on the chain.
Generally, the performance of Slothana presale demonstrates the community’s resolve to push the project to success. Thus, degen investors who wish to capitalize on this should consider getting in early.
A recent post on the project’s official Twitter handle hints at exchange listing. The SLOTH token would soon appear on exchanges, and those who have committed time, resources, and effort to the project would benefit from the initial value gain that would.
🚀 Get ready to blast off with Slothana! 🌿 We're gearing up for launch and this is your last chance to grab your $SLOTH 🌕 Don't miss out on the action as we prepare to announce our official launch date. Watch this space. #slothana #memecoin
— Slothana (@SlothanaCoin) April 8, 2024
At press time, the SLOTH is valued at 10,000 SLOTH tokens to 1 SOL. The details of how investors can participate in the presale and other essential information are provided on the presale page. Likewise, the project’s official Twitter handle equally offers further details.
4. MX TOKEN (MX)
MX Token price today is up by 11%, despite the widespread dump across the crypto market. Its trading volume is also up by over 80% intraday, making it one of the best-performing tokens today. At 11.05%, MX’s trading volume to market cap ratio shows growing investors’ attention toward crypto.
Even though MX is trending against the odds in the market, it’s not this week. MX has amassed over 23% price increase in the last seven days as its price climbed from $4.4 – $5.8. At the time of writing, MX is valued at $5.53 after a momentary pullback.
Generally, a pullback is expected at the current price range as the RSI Value of the asset is currently in the oversold range. The value of the short-term moving averages on the daily time frame is also trending closer to its current price. Thus, the pullback is the market response to the trend.
Nevertheless, the MX token possesses immense potential due to its role as the native cryptocurrency of the MEXC exchange. Recent geopolitical issues encountered by Binance have created avenues for contenders like MEXC. The exchange has seen a dramatic surge in the number of cryptocurrency listings. With the growing relevance of MEXC in shaping the future of crypto, the MX token is positioned for dramatic price increases over time.
MEXC Will Conduct Futures System Upgrade, During Which Futures Trading Can Be Conducted as Normal (April 14)
🔗Details:https://t.co/vdc9YqXxua pic.twitter.com/Vhl3EBVTLC
— MEXC (@MEXC_Official) April 10, 2024
Moreover, the platform is upgrading its future trading services. Upgrades provide fresh uptrend momentum to cryptocurrencies, which implies that MX might have an additional leg up later in the week.
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