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The altcoin market appears bullish as some cryptocurrencies attempt to rebound. Investors should remain vigilant during this consolidation phase as it could be an opportunity to take advantage of an uptrend.
Institutional investors are now paying more attention to the interoperability and tokenization of real-world assets. Prices of these assets are rising, even before the market fully takes off. The goal is to identify the The Next Cryptocurrencies to Explode and inform investors and traders about each token.
The Next Cryptocurrency Is Going to Explode
Over the next month, the focus of the cryptocurrency market will be on the altcoin and meme coin sectors and how to make the most of the altcoin market. Investors can capitalize on the moment and take a position on upcoming tokens like PlayDoge. PlayDoge is a new Doge meme coin that uses play-to-earn technology to create a game economy with real-world monetizable value. This article covers the details of its presale.
1. UNUS SED LEO (LEO)
UNUS SED LEO is a utility token recognized for its advanced features within the iFinex ecosystem. One of its main innovations is the token buyback system. iFinex uses at least 27% of its monthly revenue to buy back LEO tokens on the open market. This strategy helps maintain the value of the token, which sets it apart from other cryptocurrencies that rely solely on supply and demand.
Additionally, LEO’s value is closely tied to Bitfinex’s profitability and commitment to transparency. Bitfinex allocates a portion of its profits to buy back LEO tokens, ensuring constant demand. Additionally, regular token burns reduce the overall supply, supporting the token’s price. This system also reduces transaction fees for users and builds investor confidence.
Currently, the price of LEO is $5.88, with a slight increase of 0.03% over the past day and 1.87% over the past week. It is trading 50.38% above its 200-day simple moving average (SMA) of $3.85. Over the past year, the price of LEO has increased by 47.17%, with 16 green days in the past 30 days. The 14-day Relative Strength Index (RSI) is 41.04, indicating a neutral market sentiment.
Looking ahead to 2025, LEO is promising due to positive regulatory trends and the growing utility of blockchain technologies. It could reach a high of $7.80, supported by favorable market conditions and growing adoption of cryptocurrencies. The average price is expected to be around $6.40, with minor fluctuations.
2. Amplifier (AMP)
AMP price saw a significant surge of around 550% during the first quarter. However, as market momentum slowed, AMP followed suit and saw a similar decline. Over the past five months, AMP has erased all of its Q1 gains, indicating a strong bearish reversal in the cryptocurrency market. Despite this, AMP price saw an intraday surge of 11.13%, bringing it closer to its resistance/support level of $0.004150, suggesting a potential reversal.
In the 1D time frame, the AMP coin price has formed a descending wedge pattern and has been moving within this pattern since mid-April. The altcoin is now hovering near its resistance trendline and with the recent 11% surge, it is on the verge of testing this level, although the outcome remains uncertain.
AMP is trading at $0.004153, with a circulating supply of 80,722,574,661 AMP and 99,213,408,535 AMP tokens. It is ranked 144th in the market with a market cap of $327.03 million. The 50-day EMA is consistently acting as resistance on the AMP price chart, indicating a strong bearish sentiment in the market.
On the other hand, the MACD indicator shows a steady rise in the green histogram, with its averages indicating bullish action. This creates uncertainty regarding the future course of AMP price. If the market manages to sustain AMP price above its support level of $0.004150, the bulls could regain momentum and test the resistance level of $0.006595. If the price holds at this level, AMP could reach its all-time high of $0.009100.
3. PlayDoge (PLAY)
With over $6 million raised, PlayDoge ($PLAY) announced that its pre-sale will end on August 26 at 10:00 UTC. The decision to close the fundraising round early comes as the team prepares to launch its P2E mobile game ahead of schedule, thanks to faster-than-expected development.
It’s time to scrub and clean your adorable dog! 🐶 🛁
Last chance to stock up $PLAY in presale.
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BUY NOW 👉 pic.twitter.com/cwjQQuYCNB
— PlayDoge (@PlayDogeGame) August 16, 2024
PlayDoge has become one of the most anticipated ICOs of 2024, largely due to its Tamagotchi-inspired game. PlayDoge brings a fresh twist by incorporating cryptocurrency into the virtual pet care experience. Players earn $PLAY as rewards for caring for their pets, adding a financial incentive to the game.
What sets PlayDoge apart from most P2E games is its focus on token utility. Many Web3 games have struggled due to limited token usage or because players are primarily interested in cashing out their earned tokens. In contrast, PlayDoge’s $PLAY tokens offer a lot of possibilities as the game develops. While $PLAY is the game’s primary currency, its potential is vast. Players can purchase stylish dog houses, accessories, treats, skins, or mini-game tools.
As the presale draws to a close, the community eagerly awaits the announcement of the token claim date, with excitement building to trade what some are already calling the next Dogecoin ($DOGE). Details are expected to be revealed once the presale ends. With just nine days left, investors have a limited time to buy $PLAY tokens at the current low price. Once the presale ends, the token’s engaging gameplay and high utility could lead to significant returns, making it a great time to invest before prices surge.
Visit the PlayDoge Presale Now
4. TRON (TRX)
TRON (TRX) has seen a modest increase of 3.12% over the past 24 hours and a 4.92% increase over the past week. This indicates a neutral trend, reflected by a 14-day RSI of 32.79. Currently, TRX is trading around $0.1358, which is above its 200-day moving average of $0.120228, indicating a potential recovery. Key resistance levels are located at $0.1415, $0.1445, and $0.1528. Breaking the first resistance could lead to a 15% increase, while reaching the higher target could lead to a 22% gain.
Despite recent declines, particularly over the past month, TRX’s six-month performance has edged up. This suggests resilience and potential growth opportunities for investors. Additionally, TRX has garnered attention in the cryptocurrency market due to its impressive increase in transactions on the network, highlighting robust growth and increased adoption.
Additionally, the TRON network set a new annual record by processing 7.99 million transactions in a single day last week. Analytics platform IntoTheBlock noted this feat, marking a spike in TRON’s transaction volume for the year.
🚀 NEWSFLASH! Messari Crypto’s latest report reveals that USDT transactions on the TRON network reached a new all-time high of $57.1 billion in Q2! Among Uquid users, @trondao remains the top choice, with an impressive 59.72% increase in Latin America by June 2024! 🌍
And growth… pic.twitter.com/dOnTi4xQI2— UQUID (@uquidcard) August 16, 2024
The increase in activity on the TRON blockchain underscores its growing adoption and growing role in the digital economy. With a consistent daily average of over 7 million transactions, TRON demonstrates its ability to handle large volumes of blockchain activity, reflecting its scalability and the growing demand for its services.
5. Bitget Token (BGB)
The Bitget (BGB) token has quickly gained recognition in the crypto community and its relevance could increase as the market faces downturns. As the native token of the Bitget exchange, BGB plays an important role in the ecosystem, offering users benefits such as reduced trading fees, access to exclusive features, and participation in platform governance. BGB’s growth potential is attractive, even in a bear market.
Over the past 24 hours, the Bitget token has seen a modest increase of around 1.59%, with prices ranging from $0.9198 to $0.9354. At the time of writing, the token was trading at $0.9198, while trading volume increased by 4.55% to $26 million.
As the DeFi space grows, the utility and value of tokens like BGB are closely tied to the success of the platforms they support. Bitget exchange has grown its user base globally, which could drive continued demand for BGB even in challenging market conditions.
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— Bitget (@bitgetglobal) August 17, 2024
Crypto analysts remain cautiously optimistic about BGB despite the current market downturn. Given the token’s utility within the Bitget ecosystem and the growth of the exchange, BGB could see its value increase significantly over time. Some experts believe that BGB could potentially double in value by the end of the year, especially if Bitget successfully overcomes the current market challenges. However, due to the market volatility, investors should be cautious and conduct thorough research before making any investment decisions.
Learn more
PlayDoge (PLAY) – The Latest ICO on the BNB Chain
- Virtual Pet Dog 2D
- Play to win Meme Coin Fusion
- Staking and In-Game Token Rewards
- SolidProof Audit – playdoge.io
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