Next Cryptocurrency to Explode Wednesday May 17 – Decentraland, Render Token, Synthetix

Despite the cryptocurrency market cap climbing to $1.3 trillion, obvious trends of a bearish rally still rage across the cryptocurrency market. However, crypto investors are showing increasing preference for coins with the potential to become the next big cryptocurrency rather than following the traditional buy-and-hold strategy. The pessimistic behavior is a result of recent protracted dip experienced across the market. 

Meanwhile, as various coins begin to show the possibility of recovery, investors are plunged into a feeling of optimism, pessimism and fear of missing out (FOMO). This wild mix of temperament is revealed by the greed/fear index which has remained at an average level for most part of the month May. 

Also, the massive sell-off and price rally evident across coins within the same category attest to lack of motivation in the coin market. A typical example is the Optimism selloff that’s continued unabated over the past 30 days and the massive rally experienced across the  zkEVM network. Yesterday, we released a curated list of cryptocurrencies that started picking up steam over a 24-hour period, and the bulk of those coins have shown consistent price improvement for about 7 days now. True to our predictions, some of the coins on our list yesterday still continued to show a stronger push for more gains, and they may continue unabated over the coming days.

What is the next cryptocurrency to explode? Top list

Below is a curated list of the cryptocurrencies to watch in the coming morning. This morning, Wednesday 17th, each coin listed below gained a range of 5%–11% over 24 hours ago.

1. Decentraland (MANA)

As we move closer to the launch of the Apple mixed reality headset, metaverse native coins are seeing a progressive increase in price. The positive price changes over the last 24 hours show the long-standing bearish run in this category  is about to come to an end. Interest in metaverse native tokens seems to have taken a dip since the start of the year due to uncertainties surrounding utility and adoption.

However, metaverse tokens responded positively to the trending news of Apple inc moves towards VR. The news of Apple’s mixed-reality headset hit the market earlier this year and the release date drawing closer gradually. Decentraland, MANA, took a leading position over a 24-hour period with an increase of 11% over yesterday’s price.

In the meantime, metaverse experts have expressed optimism about the potential for metaverse coins to pick up in the coming weeks. Since Apple controls a large chunk of the smartphone market share, the release of its headset would lead to an upward trend in the demand for Decentraland (MANA). Other metaverse coins are bound to follow suit.

Unfortunately, many speculators and coin investors across major social media platforms are not jumping on the rallying metaverse trend. Udi Wertheimer, a metaverse developer, took to his Twitter handle to express displeasure over the continued demand for meme coins. The recent spike in public interest in VR and metaverse would result in a definite explosion of price and demand. It would equally play a role towards forcing the price of MANA to stay up much longer than it has in previous Decentraland price surges.

Decentraland, being the first and most popular metaverse real estate project, may enjoy higher upward price movements compared to other coins in the metaverse. As the trends continue to improve, it may be the best time to buy a metaverse coin before the spike in demand, which may drive the price to an all-time high. Besides the prospect of Apple’s mixed-reality headsets influencing the market, the expanding utility of Decentraland fortifies it against possible price reversals.  You can buy Decentraland on eToro. 

2. Render Token (RNDR)

Render Token is up by 6% over its 24-hour price. Likewise, it’s continued on an upward trend in the past seven days to reach a new high of $2. It has shown unrestrained growth after it dipped last week below $1.6 and risen to a high of $2 in 24 hours, and it has reestablished a new resistance at the $1.98 mark. The bullish trend may continue throughout the day, however, as Render Token now has new intra-day support at $1.78.

Beyond its 24-hour price moment, the coin may see more growth in the coming months as more attention is garnered towards AI-generated imagery. Holding the position as a foremost 3D rendering service provider, Render Token is likely to ride the growing popularity of VR. Speculation also making the rounds indicates that the render token may be leveraged in Apple’s Mixed-reality product. If this news holds true, Render Token may reach an all-time high price.

In the meantime, there is a need to achieve a price point above its current resistance. It has since remained at the $2.2 point for a period of time. Pushing beyond this level would create a new rally that would force new support to form.

3. Synthetix (SNX)

The month of May has not been friendly to SNX holders, as the price has spiraled in a consistent downward trend. However, SNX has shown a major rebounce with price tending towards its all-time high over the last 30 days period.. The recovery results from signals of increasing activity around the Synthetix platform. A platform-wide governance call came up toward the end of April, where discussions regarding the improvement were held.

As a result of the call, Synthetix has taken initiatives geared towards developing the platform further. The development has also prompted a community to begin developing around the platform, hence the noticeable positive changes in the price movement. It’s possible that the price increase will continue over the coming days as more activities develop around the platform. There are equally good chances that the price will continue to improve for the rest of the month.

Also, with the likes of Lyra implementing protocol integration with the Synthetix network, there is a possibility of growing utility and demand for the Synthetix services in the coming months. You can buy Synthetix on eToro.

4. Lido DAO (LDO)

Lido DAO made yesterday’s list of the next cryptocurrency to explode. Just as we’ve predicted, the price continued to see an upward rally as its percentage increase remained in the range of 5% over the past 24 hours. Its price reached a high of $2.28 and came down to $2.23. The continued price recovery after a three-week low that bottomed at $1.17 may stem from the implementation of the Shappella protocol across the Ethereum network.

As a liquidity staking platform, Lido DAO enjoys the upward trend triggered by the withdrawal protocol implementation. Other liquidity platforms on the Ethereum network saw similar improvements in price. It’s quite unlikely that the Lido DAO would witness a price reversal as the number of staked tokens on the Ethereum network reached a high of over 20 million ETH against its previous high of 19 million. It means there will be an increase in demand for liquidity staking services.

Another factor that may keep Lido DAO’s price on an upward trend is the review of its V2 self-staking protocol. As we reported yesterday, the launch of its V2 protocol has made it easier for stakers to exit positions with the stETH. The release of Lido V2 protocol on May 15 makes an immense difference in the perceived value of Lido DAO to starkers across the Ethereum network as it allows for a 1:1 exit. As the demand for Lido DAO continues to gain momentum, analysts predict that its price may hit a high of $3.3 in June, making it a coin to watch.

Join us tomorrow at 13.30 UTC for a Lido V2 celebration ?

– How did the Lido V2 launch go down?
– Are withdrawals working as intended?
– What's next for Lido?

Save the date and come chat all things V2 ?️https://t.co/pJ4uITttt4

— Lido (@LidoFinance) May 17, 2023

5. Optimism (OP)

Optimism has witnessed a protracted reaction from the market due to its frequent boom and bust price behavior. Its price went up by 3% over the last 24 hours. The price has continued to show improvements over the week, with a 7-day high of $1.78, which is a few points above today’s 24-hour high of $1.76. The growth is largely triggered by investors’ interest in the coin, and the chart signals are very similar to the period leading to its 90-day highs.

On the flip side, Optimism may create growing concerns for investors as its performance lags those observed in comparative coins such as Lido DAO. While Lido DAO has recorded consistent growth over the past few days, Optimism has remained in the marginal range, fluctuating between highs and lows. While most investors believe it could break through $2 due to a massive sell-off, its price as of May 17 has shown an upward trend. Against the doom predictions of most analysts, it is likely that Optimism will become one of the new cryptocurrencies that may experience massive price rise in the layer 2 coin category, as Lido DAO and Synthetix have witnessed consistent price improvement in the past few days.

Another factor that may influence the price of Optimism in the coming future is the impending Bedrock upgrade. It announced a move to overhaul its rollup stack. The move is intended to drive a reduction in fees. The move seems to have come in response to other newer layer 2 platforms like zkEVMs and Arbitrum, which are threatening its lead.

The presence of competitors may also have contributed to the massive sell-off in Optimism (OP) experienced throughout May. However, the Bedrock Upgrade may trigger a new rally, as we’re beginning to see. The launch date is set for June 6th, which is a few days away, and it may position Optimism as one of the next penny cryptocurrency to explode.

6. AiDoge (AI)

AiDoge is another emerging coin to watch. Following the growing interest in meme coins across social media, investors could capitalize on their popularity. AiDoge is one of these presale projects that’s showing a promising future.

It recently entered its 11th stage presale round with almost $9 million raised so far. AiDoge blends artificial intelligence and cryptocurrency, which places it at the cross-section of two emerging technologies. The project uses an innovative AI-powered tool to generate memes. The process requires users to enter a range of text that the tool uses to generate whatever memes they desire.

Attention #AiDogeArmy! ?

Stage 12 of the #Presale has sold out, and we've raised over $8.5 million!

Hold on tight because we're not stopping anytime soon! ??

Secure your bag of $AI before the next price increase! ??

? https://t.co/5j5tt4smcs$PEPE $FLOKI $XRP $BONE pic.twitter.com/zuTUdcyOYg

— aidogecrypto (@aidogecrypto) May 17, 2023

The coin is the native token of the system and allows holders to create whatever memes they desire. It also creates utility within the network by rewarding users for using the platform.

Part of the upside of holding an AiDoge token is its gives holders additional privileges within the network, including staking options. The staked coin generates passive returns for holders. Buying coins that are showing profit potential at presale could shoot investments to even higher returns when they finally take off in the market.The best time to buy is in the early phases of its presale before it hits the market.

7. Swords of Blood (SWDTKN) 

Swords of Blood occupies a niche in the cryptocurrency RPG category. Its innovative entry into the market makes it a top bet for investors interested in gaming tokens. SWDTKN positions itself as the first hack-and-slash game mode to leverage the polygon blockchain. As a pioneer in a niche, there is a likelihood of immense success when it hits the market. Even though SWDTKN is still in the third phase of its presale launch, it has raised over $1 million.

Besides its excellent performance at presale, another factor that contributes to the overall appeal of SWDTKN is the amount of funds committed to the development. Prior to its presale launch, a total of $6 million was pumped into development. In addition to that, Swords of Blood boasts a team of highly placed veterans in both the gaming and crypto sectors.

Apart from the future gains that come with SWDTKN’s price performance, another benefit of holding SWDTKN is that it grants investors access to various phases of beta testing. Other perks available to presale investors include physical goods like hoodies, vests, and branded items. Investors buying into SWDTKN are perhaps more interested in joining a community than holding an asset, which makes it a unique coin to watch out for in the coming years.

Swords Of Blood Tokenomics

The Swords of Blood (SWDTKN) serves as the currency used for in-game purchases. Also, in-game earnings and rewards are denominated in $SWDTKN. It has a total of 1 billion coins. 2.75% of the coin is issued in the seed funding phase. An additional 3.25% is released in the presale round. Liquidity 17.50%. 10.0% of the coin is kept back for liquidity, and another 10% is reserved for off-chain custodial wallets (10.00%). The team and advisors get 4% and 2.5%, respectively. 20% is funneled towards development. An additional 20% goes towards rewards. The remaining 10% is held in reserve for the Treasury.

⚔️ Thank you for your patience!https://t.co/HLHfKamruF is now up and running. If you encounter any error, please let us know immediately.

Don’t forget to participate in the ongoing $SWDTKN #presale! You only have a few more days! Don’t miss this great opportunity!

— Swords of Blood ⚔️ (@SwordsofBlood_) May 16, 2023

8. Litecoin (LTC)

Litecoin also made our list of the next coin to explode on Tuesday 15th, when it experienced a price surge that increased its value by 5%. Following our prediction that the price may continue to see an upward movement, the Litecoin 24-hour price maintained an increase of 5%. The price increase still stems from the recent launch of Litecoin NFTs. The price spike is against the backdrop of gloom experienced across major cryptocurrencies.

The entry came after Litecoin also joined its counterpart, Bitcoin, to initiate its native ordinal protocol. The move would permit the development of NFTs within the Litecoin network using the LTC-20 standards. As a result, there might be an increase in demand for Litecoin as its implementation becomes more widespread. However, even in the early stages of LTC-20 implementation, there are records of spiked activities across the Litecoin network, as daily transactions are upwards of 576,000. Continued activities in this range could

While the sudden price spike in LTC may appear to be a coincidence, it may not go down anytime soon. The recent introduction of change in the underlying technologies is set to be followed by a litecoin halving set for August of this year. This single move would create another surge in the price of Litecoin, which may see the price go on another bullish run. Now may be the best time to consider getting on board the Litecoin trend, and prices may continue to spike over the coming days or weeks.  You can buy Litecoin on eToro.

8. Love Hate Inu (LHINU)

Also on our list of the next crypto coins to explode is the popular meme coin Love Hate Inu (LHINU). It recently hit its fundraising target of $10 million within a few stages of presale. It’s a project that’s designed to revolutionize the voting and polling processes. To achieve its purpose, LHINU leverages a utility that revolves around the concept of humans’ social nature.

The project is a blockchain-based voting platform that allows token holders to initiate voting campaigns or vote on existing campaigns. Basically, votes on the platform are poll-based, and they are governed by the native token of the platform, LHINU. Further utility is provided on the platform as it rewards voters with more tokens for participating in polls. As the first blockchain-based decentralized voting platform, Love Hate Inu could see a considerable spike in its price. The spike may result from adoption across multiple markets.

As an innovative approach, the platform creates a blend between fun and serious activities to create an immersive user experience for voters. Contrary to what’s common with many namecoins, Love Hate Inu holds a viable solution to a problem that affects a wide range of markets, including politics and product ranking. The solution has applications in virtually all spheres of life. The potential utility may contribute to its extensive adoption.

As the coin is set to launch in Q3 of 2023, investors could catch the trend and earn big on its unveiling. Plus, its future plan to establish its utility across the metaverse holds a promising future for the value of the coin. One factor we believe will influence the price going forward is its first-mover advantage. Being the first namecoin to build a blockchain-based voting platform positions it for massive gains as adoption gains ground.

The first listing for LHINU will take place Friday May 19th, on OKX exchange.

Love Hate Inu Tokenomics

The Love Hate Inu coin is denoted by the LHINU, which is also the native token of the coin. The coin distribution follows a simple model. It has a total of 100 billion coins in its system. It is raising most of its capital through a presale offer, which gives it the chance to give away 90% of the coin to the community. Since there’s no venture capitalist or corporate investor to take a chunk of the funds, the remaining 10% is held in reserve for price regulation and rewards.

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