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What are the next cryptocurrencies to explode? The cryptocurrency analytic company CryptoQuant recently released a report documenting how trading activities in the United States may have contributed to the rise in the value of ETH.
The report clarifies that the anticipation of the ETH ETF has increased the desire to invest in Ethereum ahead of its approval. Thus, the crypto market is witnessing increases in the value of ETH and the value of memecoins built on the platform. Pepe and several other memecoins have seen a nearly 100% price rise since the ETH rally’s start.
Next Cryptocurrency To Explode
Moreover, the trend has also spilled into other chains, with assets like Bonk printing double-digit gains recently. Frog With Hat, a newly launched memecoin, also recorded over 800% gains and appeared on the trending list on Dexscreener in the last 24 hours. Many have argued it might become one of the upcoming crypto projects to explode. The details of its performance are highlighted below.
1. Quant (QNT)
Will Quant become the next crypto to explode? Signs indicate that QNT is one of the cryptocurrencies to watch this quarter as the token kicked into an uptrend today. With a Relative strength index reading of 59, investors can expect a reasonably consistent move in the upward direction.
Besides QNT’s neutral RSI value, its moving averages trail below its current price. It means the market is optimistic about the token’s future value, notably this quarter.
Investors can expect QNT to maintain as the platform now looks towards enabling central bank digital currencies (CBDC) to leverage its Rosalind interface for payment functionalities and securities.
Global financial institutions and governments are currently pushing to implement various CBDC projects. QNT is positioned as a critical player in a multibillion-dollar sector. As the move to implement CBDC projects takes ground, the value of QNT would equally increase at a proportional rate.
As part of Project Rosalind, we proved that Overledger APIs could play a key role in enabling #cbdc systems to deliver a range of benefits regarding payments functionality and security.
Watch our team explain it below.#apigateway #smartcontracts #blockchaintechnology… pic.twitter.com/bAZlSj777b
— Quant (@quant_network) February 19, 2024
At the time of writing, QNT has a price of $111, up by nearly 5% in the past seven days. Despite the relatively slow price increase in the bull market, the project shows resilience and remarkable stability. It also indicates potential for sustainable growth in the coming months.
2. Frog Wif Hat (FWIF)
An astounding price surge is a usual trend in any bull market, but the remarkable trend of Frog Wif Hat is noteworthy. Following the project’s debut, it records over 800% price pump, making it one of the biggest gainers this week. The project adopts the French theme, which is often associated with luxury. It brings winning opportunities to degen investors who missed the previous memecoin season.
NO HAT?? 🎩🎩
These #MemeCoins don't stand a chance against $FWIF 🚀
Check it out on #DexScreener! 👇https://t.co/YqBqH54yt0#FrogWifHat #Crypto #FWIF #100x #Binance #CoinBase #BONK #PEPE pic.twitter.com/SYiPQIkE5g
— Frogwifhat (@Frogwifhat_coin) February 27, 2024
With Pepe, Doge, Bonk, and Shiba Inu topping the list of gainers this week, investors can turn to upcoming memecoin projects like the FWIF to enter at a low cost and exit with a sizable ROI. The rave around the project is still on, with several degens flocking to fill their bags.
At the time of writing, there were close to a thousand holders, and trading volume crossed the $500k mark. More importantly, it made it into the trending list on Dexscreener yesterday after posting over 150% gains.
The momentum at which the FWIF token is progressing puts it in the camp of the upcoming tokens to explode. Early birds can still ride the wave before more degeners board and mop the low price.
3. XRP (XRP)
Legal battles and token dumps have long kept XRP below its potential. However, the sleeping token appears to be rising out of slumber. As the BTC resumed its bullish trend a few days back, XRP also saw an uptick in price. It recently started moving for partnerships and increasing activities, which is also reflected in its price.
Today’s token price reached as high as $0.59, which amounts to a 24-hour increase of 10%. It’s not the first XRP increase in the last seven days, as XRP has netted 6%, counting the pullback it saw earlier in the week.
Generally, investors have their fingers crossed as the token approaches the $0.6 resistance. A break above the resistance would likely see the token’s value gliding closer to its $0.7 range or higher. Interestingly, XRP reaching $0.7 will likely trigger a remarkable moment in the XRP community as it marks the turning point in its legal battle in the previous year.
This collaboration with @Axl_Foundation will enhance the XRPL's interoperability by extending it to a wider network of blockchains while complementing the #XRPL's feature set and opening new opportunities to broaden reach and utility. 🤝 https://t.co/zI8TcXzisH
— RippleX (@RippleXDev) February 27, 2024
Technical data also indicates the bullish momentum as the MACD value of the asset currently has a value of 0.00833. Ultimately, the pullback from the $0.59 price may be short-lived as the price of XRP may resume the uptrend in the coming days.
Above all, XRP holders might see a price climbing above the $0.7 range before the mid-quarter. However, we are unlikely to see the $1 value anytime soon. The probability of such price movement is threatened by distrust from the community, which might result in a bear pressure as the token nears the $1 mark. Overall, investors should keep an eye out for the future trend of the token.
4. Injective (INJ)
Injective made the news last quarter after a remarkable 700% price increase in 90 days, pushing the price from $7 to $43. However, the subsequent token release forced the token’s price into an unexpected pullback, which shaved over 29% off its value. However, Injective has returned to an uptrend after the BTC $58k rally. Today, the price of INJ is up by over 14%, approaching THE value of $45.
The rise in INJ value is traceable to the increasing activities in the ecosystem and the overall optimism in the crypto market. Investors can expect INJ to hold its uptrend as an Injective network witnesses more project launches due to the bull run. It is also making inroads into other chains through partnerships and events.
We have another exciting week within the Injective ecosystem with new updates from both #Injective and the ecosystem within it.
@Injective_ is gradually becoming hot and attracting many users while projects are constantly being updated and new projects are emerging🔥Let's… pic.twitter.com/ptdIiwqPZq
— INJ Hub 🥷 (@Injective_Hub) February 27, 2024
From its technical analysis, INJ remains bullish despite the recent pullback. Its price sits conveniently above its 200-day moving average on its daily timeframe, showing that it might hold its ground above the $39 price despite the bearish RSI.
However, with the resistance at $45, investors might expect a short-term sideways trend before seeing a new push in the upward direction. However, as crypto inflow moves into ALTs, investors can expect INJ to become one of the next cryptocurrencies to explode.
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