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It’s hard to spot when the next cryptocurrencies explode. All crypto sectors are in a sporadic rally in a bull market. However, with the right indicator, investors can identify crypto coins with a promising outlook. Some of the narratives that are gradually making waves in the market this quarter are the DePIN and AI tales.
Assets in the are printing remarkable performance. Taking cues from the performance of Fetch.ai, Ronin, and Chiliz might give out the prospect of the crypto markets in the coming months.
Next Cryptocurrency To Explode
In addition, upcoming cryptocurrencies like Scotty the AI are also gaining traction due to the speed at which they cover their presale milestones. An overview of their presale journey and the prospect of the token is covered below.
1. Render (RNDR)
Render made headlines in the first quarter of last year when rumors of its partnership with Apple Inc. broke out. The news assumed Render’s decentralized GPU network would be used in the VR headsets.
However, the hopes of the crypto community were dashed when the VR headsets arrived on the market with little indication that Render Network technology was used. Nevertheless, Render’s presence at one of Apple’s events preceding the release of the gears gives the platform the credibility and visibility it needs. The event put the project in the limelight, helping to reinforce investor interest in the asset.
Today, RNDR reaps the benefit of the partnership as the token’s value has increased by nearly 600% YTD. Interestingly, the price maintains an uptrend as it posted a price increase of over 5% today. The gains keep pouring in despite the recent $15 million dump by Kinetic Capital.
However, the dump had little effect on the token’s over $2 billion market cap, and the expanding impact of the crypto AI sector puts RNDR on the list of the tokens with a high potential of becoming the next cryptocurrencies to explode.
2. Ronin (RON)
Crypto GameFi enthusiasts paid little attention to the Ronin network until recently. It is an EVM with scaling capabilities that allow it to host millions of users daily. At the time of writing, the platform had handled billions of dollars in NEFT transactions, and its potential was gaining attention in the industry. Its restaking initiative took the project to a new height.
RON, the platform’s cryptocurrency, has seen over 600% increase in value in the last 90 days. While the token is currently witnessing a pullback, there are signals of a potential rally ahead.
The RON chart reveals several upsides, indicating investors can still capitalize on the potential uptrend. The current downtrend might be an opportunity to buy the dip as its recent RSI value moved from overbought to neutral in less than 24 hours.
Introducing $RON | $RONIN Restaking!
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📜 : https://t.co/o9IFDpBv6i pic.twitter.com/pRQbZum2K5
— Ronin (@Ronin_Network) February 21, 2024
Moreover, the short-term and long-term moving averages remain significantly below their current market value, indicating bullish momentum. RON is arguably one of the next cryptocurrencies to explode, given its resistance against the bear pressure.
Nevertheless, RON holders, particularly recent investors, should brace for a sideways trend as it approaches the critical resistance at its $3.58 price. Breaking above the range may put the token in a new ATH, which is more likely as the overall crypto outlook remains favorable.
2. Chiliz (CHZ)
As crypto use cases increase, assets like projects like Chiliz would enjoy the windfall. It is happening as the bull market takes effect. More sports fans bring their passion to crypto as they turn to the CHZ token to express their interest. Since the general crypto uptrend kicked off in October of the previous year, CHZ has recorded a price increase of over 150%.
In the last 24 hours, the token printed over a 10% increase, which sent it to the top of the gainers list today before swinging into a reversal. CHZ is gradually approaching its resistance at $0.12 – $0.15. Braking above this range means the token might rally as high as $0.3 or above.
Really thrilled by this announcement in Korea, one of the biggest crypto & blockchain market. First time you'll see a sports league becoming a blockchain-validator and building chain-based products. https://t.co/t06IsnoX4n pic.twitter.com/kNciCJPvNM
— Alexandre Dreyfus 🇹🇷 (@alex_dreyfus) February 19, 2024
Generally, the likelihood of CHZ beating this price range is high, given the recent partnership the platform is forging in the sporting industry. Its partnership with Kleague signifies a significant milestone for the platform as it would reinforce the confidence in its holders. It would also expand its visibility across a country that’s a significant player in the crypto market.
Ultimately, investors should watch the Chiliz trend as the token continues, reinforcing its potential to become the next crypto to explode.
3. Scotty the AI (SCOTTY)
The growing AI trend allows traders who missed out on past crypto cycles to capitalize and earn rewards. Thankfully, many presale projects are underway, opening the path to earning remarkable rewards, especially when the tokens are listed on exchanges.
Scotty the AI is an instance of crypto opportunity on its path to becoming the upcoming crypto to explode. The project combines the memecoin narrative with the reigning AI narrative. Out of the trends comes what is the protector of the crypto industry. The details of the project fundamentals and its tokenomics are featured on its website.
💥Presale Update!💥
ScottyTheAi has raised $500k in early stages of presale
Congratulation to all the early #Scottydogs in presale.
Buy Now: https://t.co/zRmy4g8hfW #cryptocurrencies #Ethererum #binance $SCOTTY pic.twitter.com/uScsbKkd3t
— Scotty The Ai (@ScottyThe_Ai) February 20, 2024
At press time, the token is valued at $0.00555, and the project has raised about $500k through its presale. Investors can fill their bags before SCOTTY goes live on exchanges. The market is yet to see the PEPE trend of the previous year. SCOTTY might be leading the way this quarter.
4. Fetch.ai price (FET)
Like every significant crypto in the AI sector, FET has been printing impressive performance over the past few weeks. At press time, the price of FET is up by over 5%, complemented by 10% in trading volume. The sudden turn of events for the token defeated the expectations of many bears as short positions got liquidated.
Today, the price of the FET briefly crossed the $1 mark before receding by a few percent. Data from its technical analysis reveals that FET recently experienced the golden cross as its moving averages switched trends. The market movement likely triggered the visible gains recorded in its price. However, RSI readings show there will likely be a pullback due to the overbought signals.
Hence, the dipping price might be an opportunity to buy against the next leg up as the crypto AI sector continues to witness growing inflow and interest. The asset is currently at the $0.9 support zone, which might break due to the bear pressure. However, it will likely bounce off the $0.85 range to return on its uptrend.
Big News! 🚀
In a recent promotion, @binance has included $FET in a campaign for their users between Feb 19th and March 3rd 🗓️
Check out the details in their tweet below 👇 https://t.co/6AgpnsF2jJ
— Fetch.ai (@Fetch_ai) February 21, 2024
In addition, the ongoing Binance campaign, putting up AI tokens for grabs, will likely result in an uptrend in the category.
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