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The altcoin market looks bullish as some coins try to bounce back. Investors need to stay alert during this consolidation phase, as it could be a chance to ride a rising trend.
Institutional investors are now paying more attention to interoperability and tokenizing real-world assets. Prices of these assets are climbing, even before the market takes off entirely. The objective is to identify the next cryptocurrencies to explode and inform investors and traders about each token.
Next Cryptocurrency To Explode
Attention in the crypto market in the coming month will go toward the altcoin and meme coin sectors and making the most of the altcoin market. Hence, investors can capitalize on the moment and take a position in upcoming tokens like PlayDoge. PlayDoge is a new Doge meme coin that uses play-to-earn technology to create a gaming economy with real monetizable value. This post covers the details of its presale.
1. Sui (SUI)
Sui (SUI) is a promising Layer 1 blockchain platform attracting attention for its efficient and secure digital asset management. It is known for its scalable solutions and boasts a high Total Value Locked (TVL), showcasing its strong performance. Sui Crypto (SUI) is currently priced at $0.7458, with a 24-hour trading volume of $178,499,111, a market cap of $1.87 billion, and a market dominance of 0.08%. In the last 24 hours, the SUI price has increased by 8.55%.
On March 27, 2024, Sui Crypto reached its all-time high of $2.18. Its all-time low was $0.363977 on October 19, 2023. Since the all-time high, the lowest price was $0.58554 (cycle low), and the highest was $0.765548 (cycle high). The current sentiment for Sui Crypto is bullish, with the Fear & Greed Index showing a 28 (Fear) score. There are 2.34 billion SUI in circulation out of a maximum supply of 10 billion. The current yearly supply inflation rate is 266.18%, indicating a significant increase in supply.
The Relative Strength Index (RSI) shows a sharp uptrend from the oversold range to its mid-point, indicating increased buying pressure. Additionally, the average shows a bullish convergence, suggesting that the SUI coin price will continue to rise this week.
⚡The results are in: Sui has the largest and fastest-growing #Move developer community, according to the latest @ElectricalCapital developer data! 🎉
Since the last update in January, Sui has seen explosive developer growth according to EC data:
➕219% monthly active devs… https://t.co/s7Mzn9Ojzf— Sui (@SuiNetwork) July 9, 2024
If the bullish trend continues, Sui Crypto will surpass its resistance level of $0.8925 and move toward its high of $1.1760. On the other hand, if the bearish trend returns, the Sui token could drop to a low of $0.6125 this month.
2. Optimism (OP)
Optimism’s price has fallen below its crucial support level, causing concern among traders and investors. However, Rekt Capital suggests this might be part of a volatile retest. The analyst notes that similar retests have happened in OP’s price history. If this retest is successful, it could maintain the macro technical uptrend. As a result, it might mark the end of the current correction and pave the way for a potential price reversal.
OP is trading at $1.63, a 6.89% increase in the last 24 hours. Although trading volume dropped by 19.07%, the market cap grew by over 6.5%. Additionally, Optimism is trading 1.62% above the 200-day SMA of $1.59817. The 14-day Relative Strength Index (RSI) is at 56.88, indicating that the cryptocurrency is neutral and may trade sideways.
Optimism (OP) is a layer-two blockchain built on top of Ethereum. It benefits from the security of the Ethereum mainnet and helps scale the Ethereum ecosystem by using optimistic rollups. This means transactions are recorded on Optimism but ultimately secured on Ethereum. Optimism is one of the largest scaling solutions for Ethereum, with over $500 million in Total Value Locked (TVL). It hosts 97 protocols, including derivatives exchanges like Synthetix (SNX), decentralized exchanges like Uniswap (UNI), and Velodrome (VELO), an automated market maker (AMM).
🔴🔵 SuperFest, the Superchain DeFi Festival, is officially here. 🟡⚫️
1.5M OP is dedicated to rewarding users who explore DeFi applications across the Superchain.
Get started: https://t.co/10VEzam9KZ pic.twitter.com/bqNjMBf7IH
— Optimism (@EthCC July 8 to July 12) (@Optimism) July 9, 2024
Investors still need to learn OP’s ability to capitalize on its innovations. Monitoring market trends and project updates will be crucial for determining its success and renewing its investment potential.
3. PlayDoge (PLAY)
Play-to-earn (P2E) meme coin PlayDoge ($PLAY) has defied the market downturn, raising $5.5 million in its presale. This coin, featuring an 8-bit Dogecoin Shiba Inu pup as its mascot, aims to lead the sector that started this year’s bull run. However, PlayDoge is not just another meme coin. It introduces a new game economy inspired by the popular 1990s Tamagotchi digital toy.
The ecosystem’s core is its native token, $PLAY, which offers various in-game and market utilities. Currently priced at $0.00517, the value of one $PLAY will increase to $0.00518 in less than a day as it enters the next presale stage.
PlayDoge stands out by incorporating P2E elements. Inspired by the classic Tamagotchi game, players can care for virtual Shiba Inu dogs in an 8-bit world, earning $PLAY tokens as rewards. Instead of just holding meme coins, crypto enthusiasts can now interact with their favorite dog breeds in a personal way.
Players earn $PLAY tokens through diligent care and winning mini-games. Those who actively care for their virtual pets can also climb the game’s leaderboard for additional rewards. Moreover, PlayDoge is multichain, allowing transfers between BNB and Ethereum.
Beyond gaming, PlayDoge has the potential to attract a diverse group of investors, including women drawn to its nostalgic appeal reminiscent of Tamagotchi’s popularity among girls. Thanks to gaming fun and meme appeal, $PLAY is set to lead the next market surge. Act quickly to buy your tokens and join the smart money flowing into this project, potentially pushing the market to new heights.
4. Bittensor (TAO)
In the past 24 hours, Bittensor’s TAO has surged by 11%, making it the day’s top performer. As July continues, the focus shifts to the AI industry, especially Bittensor. Recently, 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 anticipated 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 10.50% in the last 24 hours to $260.17. Over the past week, TAO has shown a bullish trend, increasing by 13.14%.
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.
Dear Bittensor Community, Contributors, and TAO Holders
The Opentensor Foundation (OTF) has created a tool to transfer your at-risk TAO funds to a new secure wallet.
We are currently in the process of testing the tool and documenting it. Community Q&A Call on Discord OTF will…
— Openτensor Foundaτion (@opentensor) July 6, 2024
Yesterday, Bittensor’s price increased by 15.02% over 24 hours to $262.59. This rise contrasts with its trend over the past week, where it experienced a 7.0% loss, dropping from $268.8 to its current price. The coin’s all-time high stands at $757.60.
The coin’s trading volume has increased by over 85% in the past week. Additionally, the overall circulating supply of the coin has grown by 0.52% to over 7.02 million, which is about 33.41% of its maximum supply of 21 million. TAO ranks #45 in market cap, valued at $1.902 billion.
5. Mog Coin (MOG)
Mog Coin is the first popular meme coin to show double-digit growth in a market dominated by blockchain and AI tokens. As of press time, Mog Coin (MOG) has risen to $0.000001772, marking a 21.25% increase in the last 24 hours. It has also performed well weekly and monthly, indicating ongoing investor interest. Since its debut, the token’s value has surged by more than 10,000%, according to CoinMarketCap.
This performance has surpassed many well-known meme coins during the same period, such as Dogecoin, Shiba Inu, Book of Meme, Bonk Inu, and WIF. By the end of June, MOG had entered the top 100 cryptocurrencies by market cap, now ranking 95th with a valuation of $614.57 million.
Earlier this month, MOG became more accessible after being listed on the KuCoin exchange and trading as the MOG/USDT pair. It is also available on the WOO X trading platform in the perpetual futures market as 1000000MOG.
Additionally, Mog Coin has gained significant traction, especially among Gen Z, due to its strong social media presence and community-driven initiatives. It is positioned as a cultural asset, focusing on the interests and trends of younger audiences. This has boosted its popularity and market engagement.
Mog Coin (MOG) has shown volatility, with sharp price movements driven by social media trends and community activities. These fluctuations reflect the speculative interest in the coin. Mog Coin’s future looks promising, and it could be the next cryptocurrency to explode if it continues to appeal to its core audience and expand its cultural relevance.
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