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Many altcoins are trying to make a comeback as they record significant gains. Bitcoin (BTC) is still slowly making its way back to $70,000, hoping to find support for its next big move. Investors need to stay alert during this consolidation phase as it could be a chance to catch a ride on a rising trend.
Prices of these various assets are climbing, even before the market takes off entirely. That is why today’s article is dedicated to identifying the next cryptocurrencies to explode and inform investors and traders about each token.
Next Cryptocurrency To Explode
Smart investors are moving to capitalize on the boom in the altcoin market and taking positions in upcoming tokens like the Shiba Shootout. The project features a unique Wild West design, combining this popular period from American history with the crypto frontier. This post covers the details of its presale.
1. XRP (XRP)
XRP (XRP) has outperformed the broader crypto market in the past 24 hours, reaching a three-month high. This surge is due to its relatively underbought status on yearly timeframes and renewed interest from large investors. The bulls have become aggressive, with XRP’s 24-hour volume surpassing Solana’s by over a billion. This significant breakout could signal the start of a new upward trend, pushing prices close to the $1 mark.
The long-term price chart shows a bullish trend, reclaiming levels within a bullish pattern. XRP has entered an ascending parallel channel, rising over 45% in just two days. Additionally, the weekly on-balance volume has shown a bullish divergence, indicating the rally is under bullish control. As a result, XRP’s price is expected to maintain a healthy upswing in the coming weeks and reach the average levels of the channel.
XRP’s price has increased by nearly 15% to $0.6221, its highest in three months, despite concerns about the ongoing Mt. Gox reimbursement. The XRP/USD pair has climbed around 62.20% from its local low of $0.381 on July 5. Interestingly, while the overall crypto market capitalization has risen by about 24.50% in the same period, XRP’s rebound has been much stronger.
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Although XRP’s price is 84% below its all-time high of $3.31, analysts remain optimistic. XRP’s Bollinger Bands are tighter than those of Bitcoin and Ethereum, indicating a potentially significant price movement for XRP. Based on Gann’s theory and Fibonacci retracement levels, one analyst predicts that XRP could reach $250 by 2028. He believes that if Bitcoin and Tesla can achieve similar Fibonacci extensions, XRP can reach this ambitious target.
2. Arweave (AR)
Arweave is known for its decentralized storage solution and has indexed about 15% of the internet’s pages. Its current price is $31.39, showing a more than 13% increase. Analysts predict it could reach $80. Despite possible short-term fluctuations, the long-term outlook is positive.
Arweave established a strong base around $25, which helped it rebound during a bearish period. Events like the Mt. Gox incident and the German terror attack caused the price to drop below $20. However, recent price movements have brought the altcoin back into a bullish range, raising expectations for a continued upward trend in the coming days.
The AR price has hit a major resistance level between $30 and $31.5, which could become a strong base once surpassed. The buying volume is gradually increasing, supporting the bullish outlook. The supertrend indicator recently signaled a buy, suggesting a clear trend reversal.
— Only Arweave (@onlyarweave) July 15, 2024
Arweave (AR) has been trading in a wide range between $22 and $49.55 for several weeks. In this range, traders typically buy near the support level and sell near the resistance. Therefore, the AR price is expected to maintain a healthy upward trend and rise above $40. If the bullish trend continues, reaching new highs above $50 might be achievable.
3. Shiba Shootout (SHIBASHOOT)
Shiba Shootout is transforming the meme coin world with a Wild West-inspired theme. This community-driven project blends creativity, competition, and camaraderie in a unique digital frontier. Characters like Marshal Shiba and the Shiba Sharpshooters immersive the experience, setting it apart from typical crypto investments.
The project’s story unfolds in Shiba Gulch, a lively digital town. Marshal Shiba leads the community, encouraging Shiba Inu fans to participate in meme battles, friendly exchanges, and clever meme contests. Shiba Shootout aims to engage crypto enthusiasts by tapping into popular play-to-earn (P2E) and meme trends.
Shiba Shootout offers innovative features to engage and reward its community. The Posse Rewards referral program encourages growth, while Campfire Stories sessions build community through shared experiences. Token Governance Roundups allow holders to influence the project’s direction, reflecting the democratic spirit of a Wild West town.
Recent updates from Shiba Shootout have excited the crypto community. Users can now claim free $SHIBASHOOT tokens, attracting more participants to the adventure. This initiative aims to boost engagement and increase the token’s circulation among potential investors.
Shiba Shootout has gained attention from various crypto media and formed strategic partnerships. The project has been featured in Coincodex, TradingView, Binance Square, CryptoNewsZ, The Bit Times, The Coin Republic, and The Times of India. These collaborations and media coverage have significantly boosted Shiba Shootout’s visibility in the competitive crypto market.
Shiba Shootout’s ongoing presale is making headlines. The project has raised $684,143.14 out of a $1,415,514 target, with tokens priced at $0.0196. This strong performance indicates a growing interest in Shiba Shootout’s unique approach to meme coins.
Visit the Shiba Shootout Presale
4. Ponke (PONKE)
Ponke, a Solana meme coin, has recently reached a new all-time high (ATH) of $0.6591. This happened just a few hours ago. This marks its second bullish rally, following a strong performance last month during a slow market. Currently, the price is consolidating at $0.6383 after a 33% surge over the previous 24 hours and a 50% increase over the past week.
In its short existence, Ponke has achieved several milestones. It is listed on major exchanges such as ByBit, KuCoin, Gate.io, and BitMart. Additionally, it has gained recognition from top crypto influencers and analysts. The upcoming PonkeSwap DEX launch will offer users various benefits and features. These include low fees, efficient trading pairs, liquidity provision through staking, and token governance. The Ponke team is also working on adding cross-chain compatibility to enhance the protocol’s value.
Ponke’s unique concept and community-driven approach have garnered attention from industry insiders. This suggests a promising future for the meme coin. It will be interesting to see its evolution within DeFi and beyond. Being included in the GMCI Top 30 Index further underscores its potential and stability, adding credibility to the project and attracting more institutional investment.
The Ponke team is dedicated to creating a sustainable and innovative DeFi ecosystem on Solana. Their vision includes expanding Ponke’s use cases beyond memes, incorporating cross-chain compatibility, and building a robust community. The project also plans to leverage its unique features to attract users from other DeFi protocols. With the launch of PonkeSwap and future developments in the pipeline, Ponke is poised for growth and success in the competitive DeFi market.
5. ConstitutionDAO (PEOPLE)
ConstitutionDAO was a crowdfunding effort by web3 enthusiasts to buy an original copy of the U.S. Constitution at a Sotheby’s auction. Although they did not win the bid, the PEOPLE token has grown into a decentralized autonomous organization (DAO) with historical significance. PEOPLE also acts as the token representing ConstitutionDAO.
Moreover, the token’s community-focused approach has led to a significant increase in its price since its launch. In the last 24 hours, PEOPLE has risen by over 11%, showing its short-term potential. Over the year, it has increased by more than 460%, demonstrating long-term potential. The token’s rapid popularity is due to viral marketing campaigns featuring Nicolas Cage memes, major exchange listings, and a strong, active community.
ConstitutionDAO (PEOPLE) has attracted investors with its unique method of collective asset ownership. It aims to democratize the purchase of valuable assets using blockchain technology for transparency and security.
According to current 7-day market data from CoinMarketCap, interest in ConstitutionDAO (PEOPLE) is growing. Its price increased 35.07% to $0.07918. Its 24-hour trading volume is $324,566,117. Despite recently trading below the $0.1 support level and struggling to break this threshold, analysts expect a rebound. The token might surpass its all-time high with the positive influence of Spot Bitcoin ETFs.
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