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Many altcoins are trying to get back to normal with significant gains. Meanwhile, Bitcoin (BTC) has fallen below $60,000 and is still hoping to find support for its next big move. Investors should stay vigilant during this consolidation phase as it could be an opportunity to take advantage of an uptrend.
The prices of these different assets are rising, even before the market takes off completely. That’s why today’s article is dedicated to identifying the The Next Cryptocurrencies to Explode and inform investors and traders about each token.
The Next Cryptocurrency Is Going to Explode
Savvy investors are stepping up to take advantage of the booming altcoin market and are taking positions in upcoming tokens like the Shiba Shootout. The project features a unique Wild West design, combining this popular period in American history with the cryptocurrency frontier. This article covers the details of its presale.
1. SafePal (SFP)
SafePal recently rolled out significant updates to enhance its platform, including integration with MultiversX (EGLD). This allows users to securely manage and trade EGLD via SafePal’s browser extension, mobile app, and hardware wallets. Additionally, a new collaboration with Kryptos simplifies cryptocurrency tax calculations and wallet management. It supports over 2,000 DeFi protocols and 100+ exchanges and wallets. These updates underscore SafePal’s commitment to improving user experience and security while addressing the complexities of cryptocurrency tax reporting.
Launched in 2018, SafePal is transforming the way users protect and grow their digital assets through innovative wallet solutions. The platform offers both hardware and software wallets, all managed through the SafePal app. Notably, SafePal was the first hardware wallet to receive an investment from Binance, further cementing its credibility.
Stay up to date with the latest crypto news provided by our partners @SoSoValueCrypto pic.twitter.com/EWof2us5Ry
– SafePal – Crypto Wallet (@iSafePal) August 12, 2024
SafePal supports several popular cryptocurrencies and tokens on the Ethereum, Binance Smart Chain, and TRON blockchains. The platform’s native token, SFP, plays a central role in its ecosystem by offering discounts, incentivizing users, and enabling governance through feature proposals and votes.
SFP is priced at $0.8019, reflecting a 3.80% increase in the last 24 hours. The token has high liquidity, with a volume-to-market cap ratio of 0.0568. A 14-day RSI of 56.59 suggests a neutral market stance, potentially leading to a sideways move. Over the past month, SFP has seen 15 bullish days, with a 30-day volatility of just 2.60%. Furthermore, trading 37.62% above its 200-day moving average of $0.583112, SafePal has appreciated by 75% over the past year, outperforming 67% of the top 100 crypto assets.
2. Saga (SAGA)
Saga (SAGA) saw a 20% price increase today, reaching $1.61. SAGA’s total market cap is $160 million at the time of writing. This surge comes after the Saga team announced on August 12th via X, where they introduced the Liquidity Integration Layer (LIL). This innovative solution aims to solve the problem of liquidity fragmentation in the blockchain space. The team noted that the rise of various chains, L2s, and rollups has led to this fragmentation, which has created complexity and poor user experience. Saga aims to change this.
Saga’s L1 protocol offers infinite horizontal scalability via chainlets. However, the team clarified that this scalability no longer results in liquidity fragmentation. Developers can easily request chainlets, but the decentralized nature of these chainlets has traditionally resulted in fragmented liquidity. LIL offers an integrated architecture that introduces automatic composability into the Saga ecosystem. This seamlessly connects chainlets, providing instant access to tokens, services, and applications within and beyond the ecosystem.
Today, we’re introducing Saga’s Liquidity Integration Layer (LIL), a revolutionary solution to combat liquidity fragmentation in the blockchain space. Here’s what you need to know: 🧵👇 pic.twitter.com/A62ikbIAQv
— Saga ⛋ (@Sagaxyz__) August 12, 2024
Saga’s price rally followed a rally from its monthly lows, forming a double bottom pattern. This pattern suggests the possibility of a bullish reversal if the price breaks above the neckline of the pattern.
Applying the Fibonacci retracement from the recent high of $1.82 to the low of $0.86, the golden zone was identified around the $1.44 level. The golden zone in Fibonacci analysis is often considered critical for potential reversals. If the bulls push the price above this $1.44 level, it could signal the end of the correction phase and the start of a new uptrend.
3. Penalty Shootout with Shiba (SHIBASHOOT)
Penalty Shootout Against Shiba is a cryptocurrency project that transports its community into a digital world themed around the Wild West. It offers much more than just a classic cryptocurrency investment. First, it offers an engaging experience that combines creativity, competition and community spirit.
Additionally, the project includes several innovative features to keep its community actively engaged. For example, the Posse Rewards referral program incentivizes users to expand the community by offering bonus tokens for successful invites. Campfire Stories sessions also allow members to share their crypto adventures, with the most entertaining stories earning token rewards.
Shiba Shootout also emphasizes community governance through its Token Governance Roundups, where token holders can vote on important project decisions. This democratic approach gives the community a significant role in shaping the future of the project.
Additionally, the Lucky Lasso lottery system allows participants to purchase lottery tickets using Shiba Shootout tokens, with a portion of the proceeds going to charity. This feature combines the excitement of potential winnings with a commitment to social responsibility.
🎉🌟 Try the Lucky Lasso Lottery! 🎰
To use #Shiba Showdown Tokens to win prizes and support causes! 🤠💰 Lock tokens in Savings Bags to earn rewards! 🏆💼 pic.twitter.com/W8BGAT7df5
— shibashootout (@shibashootout) August 13, 2024
Additionally, Cactus Staking offers users a visually appealing way to grow their token holdings. By staking their tokens on a digital cactus, users can watch their rewards increase over time, adding a fun twist to the usual staking process.
Penalty Shootout Against Shiba is currently in its pre-sale phase and has raised $935,191.71 of its $1,699,291 target. The token is trading at $0.0199, reflecting the growing interest from early investors. While partnerships are planned for the next phase, the project remains focused on building a strong base and community.
Visit the SHIBASHOOT pre-sale
4. Gravity (G)
Coinbase recently announced its intention to list Gravity (G), an Ethereum-based token, attracting the attention of investors. The listing will begin on August 13, 2024, provided that liquidity conditions are met. This announcement has already impacted market trends and pushed up the price of Gravity.
Following the news, Gravity’s price jumped $0.37 to over $0.04294, an increase of 12.48% in 24 hours. Gravity’s market cap also increased to $310 million, while its 24-hour trading volume jumped 226.26% to $87.39 million. Investors are keeping a close eye on these developments as the listing date approaches.
Coinbase also announced a major transition involving Galxe (GAL) tokens, which will be converted to Gravity (G). This transition will take place on the Ethereum network, but users will have to manage the process themselves. Starting July 9, 2024, an official GAL token transition portal will be available for users and will remain open for at least one year.
Earn an extra boost when you participate in the G Staking Program.
Users who stake G unlock a percentage boost, a multiplier that amplifies the rewards you can potentially earn from activities on the platform.
— Gravity (@GravityChain) August 12, 2024
For investors, the addition of G to Coinbase’s roadmap presents new opportunities. It offers the chance to get involved early in a promising asset, which can lead to significant rewards as the token gains popularity. However, it also comes with risks, especially given the experimental label that may be applied to it.
5. VGX Token (VGX)
Over the past 24 hours, VGX has seen a 6.39% gain, now trading at $0.03736. After months of decline, VGX broke its downtrend line and entered a consolidation phase in late July. The bulls found support in the 50-day moving average, which helped keep the price in this consolidation phase. This momentum has allowed the price to move closer to the 200-day moving average. A break above this level could signal a bullish rally for VGX.
VGX’s Relative Strength Index (RSI) is currently bullish, at 79, above the overbought zone. This suggests strong bullish momentum. The RSI could continue to rise, indicating even greater strength in the market. Additionally, the incredible oscillator is showing green bars trading at 0.032 above the neutral mark, giving buyers the confidence to enter the market without significant risk.
“The VGX Foundation and the Cardano-based Clay Nation project have entered into a partnership integrating the $VGX token in Clay Nation through a grant that provides VGX rewards to the dedicated Clay Nation community.
We would like to go into a little more detail regarding our… pic.twitter.com/WVNsfMMoTU
— VGX Foundation (@VGXFoundation) August 10, 2024
Chart analysis indicates that if VGX breaks above the descending wedge and receives continued support from the 50-day simple moving average, its price could surge to $0.58. However, the 200-day simple moving average presents a potential hurdle, with a support level of $0.085. At the same time, VGX’s market capitalization increased by 7.48%, reaching $12,821,369, while the 24-hour trading volume increased by 36.41%, reaching $20,250,552.
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